Nasdaq is the strongest of the US indices. Buy the strongest, sell the weakest (RUT).
Price just broke pin bar candle after making double bottom. Extensive fundamental analysis shows that unlikely market should enter bear phase at this time, although upside limited, thus buy the dip one last time. We can now buy and aim for previous highs as an initial target. Reward:Risk ~ 10:1
Better stop loss location would be just below the extreme of last double bottom. With QQQ: 167.66
Price just broke pin bar candle after making double bottom. Extensive fundamental analysis shows that unlikely market should enter bear phase at this time, although upside limited, thus buy the dip one last time. We can now buy and aim for previous highs as an initial target. Reward:Risk ~ 10:1
Better stop loss location would be just below the extreme of last double bottom. With QQQ: 167.66
Trade closed: stop reached:
So much for being a long term play. Only 1 day's worth of profits to be had. Stopped out at a loss. Not happy! -1.5%