I entered $TQQQ at $83.13 based on the $QQQ chart as it broke above the 50 day sma. This has been a profitable buy signal over the past 4 years. My stop was a close below the 50 day sma.
With the first gap and go I moved my stop to a close below the gap up day trading range’s low of day.
Since I was not stopped out I let my winner run.
On the second gap up day I once again moved my stop to a close below that gap up day. I was keeping a close stop due to the RSI being so close to 70 signaling the potential for being overbought after the quick ‘V’ shaped run up from the bounce off the lows.
Today with the gap down I moved my stop to a close below yesterday’s close. I locked in profits as it never rallied back to yesterday’s close and weakness emerged throughout the day as the trading range from the gap up expanded and most the day was spent in the red.
I locked in a 10.9% return on $TQQQ in just nine trading days.