Today, QQQ formed a Doji. This shows market hesitation. The reason is clear: tomorrow is the Jackson Hole meeting. Before such big events, markets often move in a very uncertain way.
TCS view is simple:
• If the market drops before the event, there is often a rebound after.
• If the market rises too much before, weakness may follow.
On short time frames (like hourly charts), QQQ shows signs of stabilizing after yesterday’s big drop. This may set up for a rebound.
Tesla (TSLA): The Power of Retest
Tesla is a classic case of pattern recognition. In early August, it made a breakout. Now the price has returned to the breakout area for a retest.
This is very common in U.S. stocks. Price breaks out, then comes back to test the old resistance as new support. If support holds, the chance of further upside increases.
For swing traders, this pattern is useful: risk level is clear, and upside space is still open.
Pinduoduo (PDD): Breakout After Many Tests
PDD broke above $120. This is a textbook case of multiple resistance tests increasing breakout success.
• Before breaking, PDD tested $120 at least 8 times.
• Each failed attempt reduced selling pressure above.
• Today’s 9th attempt broke through with high volume. Volume was far above the 10-day and 50-day averages. This shows strong institutional buying.
Conclusion: when you see many tests plus high-volume breakout, the success rate is much higher than normal.
Futu (FUTU): Volume Is the Key
Futu’s action near $175 is also typical:
• On rallies, green bars (volume) are big.
• On pullbacks, red bars (volume) are smaller.
This volume pattern often means institutions are buying. It makes the breakout more reliable.
Coinbase (COIN): Value Zone Test
Many asked about Coinbase. TCS sees $300 as its value zone. After breaking $300, price came back many times to test support. Each time it held, support became stronger.
Holding $300 now looks more likely, giving a solid base for future upside.
🎯 Key Takeaways
Pattern recognition is a key skill in trading. Retests, breakouts, multiple tests, and volume signals all matter.
• Tesla shows the value of retest.
• PDD shows that many attempts plus high volume make breakouts stronger.
• Futu shows volume confirms breakout.
• Coinbase shows the importance of value zones.
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