In a recent post we observed that the QQQQs were breaking out of a well defined double bottom.  Let us emphasize how important it is to take these trades as they occur.  Hesitating or doubting the signal does nothing but increase the risk.  Every trade has risk associated with it — most of all at inception.  But waiting until the trend is clear measurably increases risk.  This continues to be a trade to take, and is progressing.

This is really a beautiful pattern.  Textbook double bottom.  (Oh, and incidentally, no guarantees.)