$QQQ printing a double top — two peaks kissing the same high, then rejection. Clean structure.
Break below trendline and volume support already happened. That's your first confirmation the setup is live.
Next support zone sits around $707. If we hold there, could be a retest setup back to structure. If we slice through, expect continuation lower.
Invalidation? Reclaim of the trendline and volume shelf with follow-through. Until then, bearish structure controls the read.
Double tops work when the second peak can't break the first — that's exhaustion. Now we're watching whether $707 holds or folds. Trade the levels, not the hope.
Break below trendline and volume support already happened. That's your first confirmation the setup is live.
Next support zone sits around $707. If we hold there, could be a retest setup back to structure. If we slice through, expect continuation lower.
Invalidation? Reclaim of the trendline and volume shelf with follow-through. Until then, bearish structure controls the read.
Double tops work when the second peak can't break the first — that's exhaustion. Now we're watching whether $707 holds or folds. Trade the levels, not the hope.