TQQQ – Chart of the Week for November 7, 2023

by | Nov 7, 2023

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/

Good Luck!


— Jeffry Turnmire
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!

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