QQQ Trade on Jan 11, 2022 11:10 from JRockTrades: Tradervue User Stock Trades.

Big Picture

QQQ have been weak recently, closing last week about 6% down from the ATH. It has had an expanded range and has been in-play for several sessions now with VIX near 20 at the time of this trade.

ATR: 7.6
RVOL: 1.23
VIX: ~20

QQQ came to my attention when Steve spencer tweeted about it. It had broken out from 379 on Fed news. It had lots of resistance in the 381 to 381.50 area. I was trying to short below 381, but that got stopped out. I pretty quickly switched long with a stop below 381, looking for another leg up. My entry could have been a little closer to 381, but the trade really worked so good enough.

Trade Management

I took off 30% of my position $1 higher than my entry to cover risk. I continued to sell as price moved higher and then the last 35 shares got hit on a $1 trailing stop. Given the size of the candles previously in the day, I probably should have had a $1.50 trailing stop to try to catch another leg up. Still, this worked really well in capturing one leg. I got decent risk to reward despite my could have been better entry.