I’m back… with another great chart setup for you.
This Week’s Chart
TQQQ is a leveraged ETF that follows QQQ. (CAUTION: leveraged ETFs do NOT always obey my patterns.)
TQQQ is entering a *Market Roadmap-type setup with a bounce off my Roadmap Line (RML).
The aggressive entry is a break above the downtrend of highs.
The regular, more conservative entry is on a daily close above $42.
The stop would be on a sustained break below $30.
The super conservative target is the prior high at $47. The regular target is $51, while a more aggressive target is up around $57.
The correction took Aug through Oct or about 3 months. The next move up could take up to 3x this duration to reach the targets.
You can see my marked up chart here: https://www.tradingview.com/x/A8kYd9mO/
PS> *Market Roadmap is my TradingView indicator that helps me spot many of the trades I post, including this one. If you’d like to grab it for yourself — and get access to my private Discord channels, too — just click here to pick it up for $5!