MAR 6 QQQ/NQ Projections

🚨 Market Update & Strategy 🚨

Hey everyone, quick heads up about yesterday - turns out we saw a deeper retrace than expected. My bad for any lost gains or losses following my guidance. 📉💔 Even I miss the mark sometimes.

🔍 Today's Setup 🔍

We're eyeing at least a .5 Fibonacci (Fib) retracement of the recent downtrend. There's a compelling Fair Value Gap (FVG) at that level. If we fail to hold, we might be looking at new lows in the coming days. Nonetheless, I'm leaning bullish 🐂 and hopeful for a spectacular recovery to surpass our .886 Fib today, fitting this bull market's vibe. The morning's showing some strength, so fingers crossed! 🤞

🌜Last Night's Move🌛: Swung calls. Planning to trim if we fail the .5 Fib and 1hr FVG.

📊 Fibonacci Levels to Watch:

NQ (Nasdaq):

• 🟢 .5 Retrace: 18106.75
• 🟢 1 Fib Extension from Low First Wave: 18099.25
• 🟢 .618 Retrace: 18170.75
• 🟢 1.382 Fib Extension from Low First Wave: 185158.50 (Check this value)
• 🟢 1.618 Fib Extension from Low First Wave: 18195.25
• 🟢 .786 Retrace: 18261.75
• 🟢 2 Fib Extension from Low First Wave: 18254.50
• 🟢 .886 Retrace: 18316.00

QQQ:

• 🟡 .5 Fib: 440.25
• 🟡 1 Fib Extension: 440.31
• 🟡 .618 Fib: 441.74
• 🟡 1.382 Extension: 441.82
• 🟡 1.618 Extension: 442.75
• 🟡 .786 Fib: 443.94
• 🟡 2 Fib Extension: 444.26
• 🟡 .886 Fib: 445.25

📈 Strategy: Aim for a 5m close above a Fib level, expect a bit of retracement, then push to the next level. Beyond 1 Fib extension, reaching the next 2 levels becomes common.

⚠️ Caution: In a wave 'c', it's common to extend to 1.382 or 1.618 before a potential sharp pullback. Stay vigilant!

💡 Positioning: Cautiously bullish. I'll feel more comfortable sizing up calls above the noted .886 levels.

Let's keep our eyes peeled and stay agile! 💼👀