Active traders who reversed (covered the /NQ or QQQ swing shorts & went long) at the second price target (T2) yesterday might consider a stop at or slightly below entry
and/or trail stops entry to protect profits. My bounce target zone remains as posted yesterday (shaded area). Previous (yesterday) & updated daily charts below.
QQQ daily March 30th
QQQ daily March 31st
Remember, never trust a bear market rally (if that proves to be what this is, which I still believe it will). Just as they start to look, smell, & fell good, with the masses believing that it’s finally safe to get back into the water, is usually about they time they pull the rug, with the next leg down starting.
Have a trading plan & stick with it, until & unless something compelling convinces you to modify it.