In March, QQQ went from Fib Pivot, let's call it FP for short, to FS1 and by the end of the month went back up to FR1 pivot. This month it's logical to see a higher low at Fib Pivot for Apr.
This area is also the 0.618 retracement of that move in March.
In addition, this is coinciding with the rising 50D SMA (not shown).
The odds of holding here is higher as a result.
For me, given the geopolitical risks, it's prudent to go long on a smaller size than usual.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice.
This area is also the 0.618 retracement of that move in March.
In addition, this is coinciding with the rising 50D SMA (not shown).
The odds of holding here is higher as a result.
For me, given the geopolitical risks, it's prudent to go long on a smaller size than usual.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice.