QQQ Trade on Jun 3, 2022 10:36 from JRockTrades: Tradervue User Stock Trades.

QQQ has been in a longterm downtrend, but the past few days have been a bear market rally. Today QQQ had sold into the open and remained below VWAP for most of the day. The opening drive low was 307.50. I was watching that level as QQQ came back in. It came in so quickly that I was hoping for a bounce off the level before a retest, or a consolidation just above the level before breaking lower. If it had broken through on the first go, I probably wouldn't have taken the trade because it would have moved so much so fast that the chance of it just being a wick and then stopping out would be too high. What happened though was a bounce off the level and a retest. I was watching like a hawk for the break, which is evidenced by the 307.50 entry that was done manually with a market order.

I pretty much got what my best case scenario was, which was a move to 305. That level has been very important support recently and I wanted to be flat because a retracement from that level was very likely.

I probably covered too much too quickly, but can't knock a winner. I was already up a full daily stop on the day when I took this trade and would not have taken it had it not been such an A++ setup from my playbook.