More on the Q's

I was looking at the 4 hour chart I just posted, I noticed something that made sense with yesterday's signal and given the hourly chart's candles.

 Looking at the daily chart INCLUDING VOLUME, remember me railing on about the Harami bullish reversal candlestick pattern on the daily chart? Well there it is in yellow, a Harami followed by a hammer and an upside reversal.

I haven't met anyone yet who can tell me how far a candlestick reversal will go because I don't think there's any information with regard to that, they just mean the trend will reverse, they don't give targets, but I have found one way to get a target.

First what I wanted to point out to you is this star like candle that has gapped away today and volume is light, that's a pretty good set up for the kind of reversal set up forming on the charts since yesterday.

Here's a way I've found to judge distance with candlesticks, this is a 5-day chart of the QQQ with a bullish hammer reversal, I know that the reversal is going to put in at least 1 5-day candle so that gives me a rough target, see the hammer to the left, but that was a different market environment.

What first grabbed my attention though was the 4 hour QQQ chart posted, just price and that same gapping star, that's nearly a perfect set up for a 5 min negative divegrence reversal. Of course the weekly hammer still holds our longer uptrend that we have been tracking, but things make a bit more sense looking at these price charts.