• SQQQ has carved out a potential Falling Wedge
  • This reversal pattern should allow a retracement of the decline from the February high
  • If the Falling Wedge is done today´s lod must hold
  • A break out from the Falling Wedge will be confirmed if price breaches the resistance R1 = 19.90
  • Above R1 we have the 20 dma = 20.31 then a gap that can be filled at 21.25 and R2 = 22.08 (Which coincides with the 200 dma)
  • R2 should be doable.
  • The MACD is confirming a bottom

SQQQ DAILY CHART

  • I am planning to open a long position above 19.70 with a stop below today´s lod of 19.36

SQQQ 60 MIN CHART

 

Close