What happened on this chart?

KGTrader4 said:
But none with a singular move the size of that move that I can see, they were all gradual moves. That’s what caught my eye
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Look at the two bars ranges back around 11:30am.

We can always find what we are looking for. Confirmation bias. The trick or better yet skill is to find what we are not looking for.
 
smallfil said:
Based on your stockchart, there is strong overhead resistance @ $52.50. Remember, those who bought at higher prices are all losers so, trying to get out with some of their monies back. Selling at resistance makes perfect sense for them. It will be hard to go higher because you have waves upon waves of sellers waiting to get out @ $52.50.
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I agree with most of that/ especially since OCT is nicknamed by Stock Traders Almanac as ''bear killer''
More risk + reward for both sellers + buyers, due to OCT wildness.
SQQQ , as you may have noted/ makes money on QQQ downtrends \so, main trend is down + medium trend[50dma] is still down, on QQQ.
Frankly, nice gap down on QQQ today WED OCT 5= gap up on SQQQ.....

Panic sellers of QQQ favors SQQQ; i see more panic moves to upside with SQQQ,than gradual ; but i dont watch 1 minutes charts much.
 
I’ve started watching both 1 and 5 minute charts today. 5 minute seems to help me avoid shakeouts that are fake outs.
Just a small trade today on SQQQ, made $100. I think I’m done, it’s religious holiday, feeling like I shouldn’t trade today. So I’ll end the day with a profit and just reflect on God, life, and moving averages
 
KGTrader4 said:
I’ve started watching both 1 and 5 minute charts today. 5 minute seems to help me avoid shakeouts that are fake outs.
Just a small trade today on SQQQ, made $100. I think I’m done, it’s religious holiday, feeling like I shouldn’t trade today. So I’ll end the day with a profit and just reflect on God, life, and moving averages
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Good points;
I like the OCT calendars with Yom Kipper, World Missions Sunday, Columbus day/Thanks Day Canada, day still on them[may be hard to find that on internet WOW].
OK by me if they put national Taco day on OCT , but amazing how so many, are trying to edit out important days:caution::caution:
Printed out a 6 or 7 day QQQ candlechart, May 2002 bear\ all the days were down, +below 50 period moving average; except one day QQQ was up10%+ above 50 period ma on 30 minute candles.
QQQ was in $30-$33 trend area, with12- 15 million/ 30 minute QQQ volume bars.
 
KGTrader4 said:
I’ve started watching both 1 and 5 minute charts today. 5 minute seems to help me avoid shakeouts that are fake outs.
Just a small trade today on SQQQ, made $100. I think I’m done, it’s religious holiday, feeling like I shouldn’t trade today. So I’ll end the day with a profit and just reflect on God, life, and moving averages
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how many trades did you do today on sqqq?
 
KGTrader4 said:
Just did the one. Then stopped trading for the Jewish Holiday, (see above post)
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you mean 2 trades...one to open and one to close? that's 2 trades. how many days have you been trading sqqq beside today? if it is one day...do you think you can repeat this in the foreseeable future?
 
It was a breakout, it can fail or it can pull back for a long entry. Don't concern with the why but with the what. Have setups and rules and don't try and figure out the meaning of life every time there is a move.
 
vincentnyc said:
you mean 2 trades...one to open and one to close? that's 2 trades. how many days have you been trading sqqq beside today? if it is one day...do you think you can repeat this in the foreseeable future?
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Yes one round trip

second day I’ve been trading might be repeatable time will tell
 
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