QQQ- Bulls want second leg / bears want DB moving avg resistanceInvesco QQQ Trust Series IBATS:QQQRaw_Dogging_The_WickHello trading view community , I am new to the community but want to start interacting more and after reading some ideas on here , I think trading view community is a gem . I am going to start publishing with some trading calls. I will also track the result vs the year so readers can observe the Year To Date "R" return/loss of my calls . About me : I am a full time trader , self funded . Primarily focused on QQQ/SPY and their leveraged counterparts. Though, I am sometimes taking high probability stock plays on individual names too . I use a combination of price action/technical , with minimal focus on news based plays. Current QQQ theme : Market is in an oversold bounce after finally breaking below 5+ month trading range with last trading day being a low 1 50% pullback but also still closing above prior days lows . This is the first reversal out of a tight bear channel so price action tells us that the first reversal is probably minor . -Bulls see Thursdays move ( L1) as a 50% pullback after a first leg up ( H1,H2 ) and expect a second leg up ... -Bears see Thursdays rejection off the 21ema region as a rejection/test of resistance ( 21 ema) and also a double top ( last two bars , H2,L1) . They expect this move to fail and are betting on the minor reversal odds of first breakout out of a tight channel being minor . Bears see a minor reversal . My Plan(s) - *currently in cash Scenario 1 ( bulls get a second leg and break above highs) - I will use the break above prior days highs as a way to get long and hold the position to next L1 and close below another days low . Scenario 2 ( bears seem to be getting push down , thurs L1 bar gets continuation ) - watch for push down and see if bears try to form a second entry long later . This will be a good area to manage risk probably . If we get this but it fails and bears push lower , we may be in for a larger move down overall and a measured move perhaps.. Scenario 3 ( Confusion TTR ect ) - In this scenario we see tight trading ranges , iii's(inside , inside , inside ) , ioi (outside , inside , outside ), lots of wicks and doji candles, ect ect . Overall confusion and disappointment for both bears and bulls . A case where most traders are having trouble making sense of the moves. In this case I will probably either wait or take very tiny trades that have minimal effect on accounts . I find that these cases I can usually make money but only trading the range and if range is only a few percent ect ect ,its not worth it. If I am buying normal reversals and trend based trades in a TTR, I lose $$ .Usually best to just wait in TTR's, though easier said then done as you all know too no doubt . Conclusion : Lets see what happens tommorow. Since first reversal out of a tight bear/bull channel is usually minor and we are at moving average too , I am betting on bears winning the next few days . I personally would prefer to see that along with an obvious second entry long double bottom formation , possible MTR .