[Premium] 6%-15% Potential Upside Short Term Trade Setup For TQQQ [Setup Expires 2-3 Days]

Nov16tqqq

This is a short term trade setup for TQQQ based on the 30 day 1 minute chart.  Potential upside on the targeted buy area is as much as 5-6 points or 6% in a matter of a couple days(!) or even 15%(!)

Best case scenario:  Gap down downward 3 completes at 1.618 right to 106-108 range.  Buying in that range is in anticipation of an upward 382 W4, in this case, if there’s a bounce from 106, back to 112, or 108 back to 114.  You’re betting there’s no 2.618 wave 3 which is pretty rare (2.618 happens 10%-15% of the time), and betting that 1.618 is complete for an upward 4.  Even better scenario is that that was the bottom, period.  We’d go all the way back to a 786 reversal over the top of the B to 122 or 126 the all time high.

Worst case scenario:  You run into the rare 2.618 would be another 10 points of downside from the 106-108 range…but the VIX is right at the magic 21-23 range right now and with the gap down tomorrow we’ll hit that and those levels.

Where I’m leaning:  Great buy to buy the TQQQ in the 106-108 range as there’s an 80% chance it reverses in at least a 4 to the 112-114 range.

About the author

The secret of many top analysts and traders...(in fact mutual fund managers, hedge fund traders and even a couple seat owners of the NYSE are subscribers!) Wavegenius.com. Ted "Wavegenius" Aguhob since 2001 has profited on 80%-88% of his trades EVERY year since the inception of his blogs and websites..Ted has made and incredible amount of calls during this period including: 1778% gain in 03-04 from swing trades, The 2009 bottom lows of S&P DOW and NASDAQ literally right on the number, the massive 3rd waves when SPX made it's run from just over 1000 to 2400+ that we're seeing now (these calls were written by Ernie Varitimos on articles on the FRONT PAGE of TheStreet.com, Yahoo Finance and MSN Money for a week), The exact all time low of Apple and Facebook and the huge move that followed on Youtube videos, and he's had Top 20 Charts of stocks that 90%-100% of the time were accurate...at the time the calls were considered insane to most and hundreds of his charts have been like that..until they actually happened...as a result Ted with a tiny audience made almost $177,000 in 2013 as one of the top earning blogs in the country. His following is beyond fanatical, and has been hidden away for many years with many websites and competitors refusing to partner with him..mostly because he'd walk in there and take away many subscribers and traffic from them...

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