I decided to take a blank chart of the $QQQ and create several different perspectives. A few of them provide a clear look while others just muddy things up even more. Let’s start with the blank chart first, no trend lines or support/resistance lines:
I like this chart above the best as it shows a clean B/O (breakout) back-test, albeit back under the 50 SMA. You may not notice this but there are not many hollow Red candles on this chart.
So is the test at the 200 SMA below in the cards? What is your take? Comments welcome.