QQQ chart analysis/mapping.QQQ ETF in consolidation phase after strong November rally.
Trading scenarios:
- Further consolidation = descending trend-line (light blue) / multiple EMA confluence zone.
- Continuation rally #1 = top range of Fib / ascending trend-line (green) confluence zone.
- Shallow pullback #1 = 78.6% Fib / 200MA confluence zone.
- Shallow pullback #2 = descending trend-line (white dotted)\
- Deeper pullback #1 = gap fill / ascending trend-line (green) / Golden Pocket confluence zone.
- Capitulation #1 = 50% Fib
- Capitulation #2 = 38.2% Fib / gap fill / ascending trend-line (light blue) confluence zone.
- Capitulation #3 = 23.6% Fib
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.