The bottom

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HIest probability is one could make money off that ;
and past trend study.

That is unless one tried to make that a prediction;
never confuse any probabibility with infallibility.

Wisdom is profitable to direct

 

No, that was the opposite of what I was asking for.

 

QQQ at the 65.20 area. Are profit takers/sellers around the corner? Is 65.49 an important level?

 

Could you share some charts, and grant me the rights to use them if I do?

 

Charts for what? The only thing I did in this thread was post a chart that kind of agreed with you about where the bottom is.

But it will be interesting to see what happens now since QQQ may be hitting some resistance (if you believe in trendlines, of course).

 

Today was a BO of the channel. This is still a retrace - tongue in cheek, "the mother of all retraces" of the leg from late September (cf. the 3 prior retraces in the channel).

 

According to that chart you posted, the recent low was a BO of the same channel, wasn't it?

 

the close is the most important, and if you notice there was no close below the channel line

 

QQQ at 65.32. Goodbye to the long side.

 

Yeah, I never understood why people said the close is important.

Seems to me like it's ignoring data. If price went above/below a certain amount, you can't just ignore it because it wasn't the close. It still tripped limit orders. It was still a valid price.

Plus, if you use a different time frame, the high/low may very well be the close. This presupposes that daily charts are somehow different from all other charts.

Or perhaps the big players who control price look at these levels and say "regardless of where price goes, we're going to make it close above/below this specific point."

Beats me.

Seems to be two bounces off support today, though, where I drew the horizontal line on that last chart.