(Click On Chart To Enlarge)
From November 6-10, the QQQQ tried to put in a Double Bottom at 30.40...30.40. That broke down at the open this morning, so to derive the downside target:
High: 31.97
Lows: 30.40 and 30.40
31.97 - 30.40 = 1.57 Points
30.40 - 1.57 = Target: 28.83 IN PLAY, which just got MADE.
2 comments:
HI Melf,
I replied to your question on xtrends. In short it is a
mathematical calculation. The first target today was
29.59. I covered puts there. Then bought more as we
broke through. I covered puts at 28.90.
Next target is 27.72. I will wait for the open before I
make my next trade. I'm still playing the down trend
for now.
Vader,
Nice going! Glad that you're doing well. Thanks for the feedback.
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