For those with longer term horizons in the fast movement of TQQQ and with a bigger risk appetite, I present to you..the swing trade for the big DOUBLE..yes to TQQQ 200-220..but you need a safe entry with stops? Here’s what I would do if I were to go for this type of long term swing trade… [ms-protect-content id=”61,117″]
Where I would place a stop to buy and sell: If the TQQQ drops to the 110-112 range tomorrow, buying in a bottom fishing trade in that range as low as possible is the way to go…I would place a stop to sell at 107 slightly below A wave support…that would be broken ABC flat support at the A wave and I would stop out and move on. But the reward if you held on this formation is a double, YES..a double to 200-220..that would be a 1-2-3 move up after an ABC flat wave 2 and is the very reason I created this trade setup..but 4-6 point stop less can be heavy..
How low would I go: If you read this post and decided later on to buy and waited patiently, I would try to buy in the 107-108 range if TQQQ drops that far…just keep track of it instead of diving in head first.. [/ms-protect-content]