QQQ at a Critical Level! Key Trade Setups for This Week

🚀Market Structure & Price Action
* QQQ has bounced from a key reversal zone, signaling early bullish strength.
* The price recently broke a descending trendline, suggesting a potential short-term trend reversal.
* Resistance at $513.29 aligns with previous rejection levels, making it a key target.
* A break above $513 could open the path toward $530-$535 resistance.

Support & Resistance Levels
* Immediate Resistance: $491.81 (current rejection point)
* Major Resistance Zone: $510 - $513 (historical resistance)
* Support Levels: $486, $480 (highest negative GEX / put support)
* Breakout Target: $530, $535 (GEX Call Walls)

GEX & Options Flow Insights


* IV Rank: 49, suggesting moderate implied volatility.
* Options Flow:
* Calls: 12.13% at $510 (2nd Call Wall)
* Puts: -78.42% at $485 (2nd Put Wall)
* High Volatility Level (HVL): $513, indicating a crucial pivot level.
Indicators Overview
* MACD: Showing signs of bullish momentum with a potential crossover.
* Stoch RSI: Oversold and turning up, suggesting a rebound is in play.
Trade Scenarios

Bullish Setup (Breakout Play)
* Entry: Above $492
* Target 1: $510
* Target 2: $530
* Stop Loss: Below $486
* Confirmation: High volume breakout above $491.81

Bearish Setup (Rejection Play)
* Entry: Below $486
* Target 1: $480
* Target 2: $475
* Stop Loss: Above $492

Conclusion
QQQ is approaching a key decision zone. If buyers can push above $491.81, we could see a strong rally toward $510+. However, failure to break above this level could result in another rejection back to $480-$475.

📌 This analysis is for educational purposes only and does not constitute financial advice. Always do your own research before making trading decisions.