10/3 QQQ AMZN NVDA

Update to our weekly plan

Traders,

Today was pretty tough, we ended inside on QQQ but AMZN and NVDA both broke out of Friday’s range. Let’s update.

—QQQ—

A couple things to note, on the monthly profile we broke back into September’s value area, breaching the VAL at 359.91 and we managed to close above it back inside September’s balance.

1D NVDA

Remember we highlighted last week’s value area and said that above the VAH 359.82 we wanted to target the gap starting at 362.95 and that weekly naked POC at 363.89. These targets are still in play as we closed above last week’s value area (keep in mind that we did end the day inside (more on that later)). It seems bulls may have the upper hand here, but we will see what tomorrow brings.

4hr QQQ

30min QQQ

Friday’s POC at 358.29 provided good support all session, but the bulls could not sustain about the VAH at 361.05.

QQQ Plan for 10/3

If I am a bull, I want to see this shaded area hold as support and I want to target that 362.95 - 364.46 area. The bulls have checked a few boxes by breaching last month’s VAL and also closing above last week’s balance area.

30 min QQQ

Above 360.63 target 362.95 > 363.89 > 364.23/46

Below 358.37 target 357.08 > 356.01 > 354.72

—AMZN—

This one worked out really well minus the fact that we didn’t reach September’s VAL. Look how we opened, we opened right at Friday’s VAL and POC (our major level at 127.12 the quarterly close, held as support), also notice how price broke out from Friday’s VAH at 128.10, it even came back for a retest, and then continued higher.