here’s that 4 hour QQQ chart showing the expected bounce (with a 1 minute chart overlaid to zoom in). very active traders (daytraders, scalpers, etc..) could use these target/support levels for quick trades using tight stops and a fair amount of leverage (since we’re only talking about a 1/2% bounce since that support level was hit). at times i will day trade or micro-manage my positions around these levels. however, for now i am sitting tight as i do expect prices to break below that support level (T1) sooner than later.
