Incredible

Just WOW

As we anticipate more time sensitive trades in upcoming days, would you please post your notes and screen images, instead of videos – only until things settle down. I hate to lose good opportunities on trades because the video is 20-30 minutes long, and it takes good 15 minutes to skip through video to gather key takeaways. Very Respectfully.

At times I do share key levels on the ETFs & comparable futures contracts but it can get rather time consuming for me to correlate the comparable levels on all the various trading proxies for an index such as the index (e.g.: /NQ, QQQ, PSQ, QID, QLD, SQQQ, TQQQ, etc.., even just one of them, especially during days like today when things are moving fast.

My suggestion would be to mark up your charts of TQQQ in advance with the comparable support & resistance levels, trendlines, etc.. Those should closely line up with the QQQ & /NQ charts I post if you match up the recent reaction highs & lows & other noticeable price action such as trading ranges, gaps, etc. The limitation to that is the further back in time you compare the charts of QQQ with the 3x leveraged TQQQ, the more the effects of the decay from the leverage start to distort the chart of TQQQ (see my FAQ page for that explanation).

E.g.- Here’s that 60-min chart of QQQ with my 4th price target (T4) that was laid out a while back. That level (369.50) aligns with the top of the Sept 27/28 gap & the bottom of the Sept 17th/20th gap as well as some reaction highs before that.

As such, even if trading TQQQ, SQQQ, QID, QLD, etc.., it is best to keep a chart of QQQ with key levels marked up & give preference to those levels on your entries & exits for the leveraged ETFs.