My previous thesis played out perfectly on this in 2022 (see profile).
Now, we have sharply flipped after getting close to the bottom of the channel on this key pair trade.
The beautiful breakout, with a confirmation pullback, suggests the outperformance of QQQ over SPY will continue and the breakout of the channel which occurred in 2020 is here to stay.
Given...
The beauty about crypto trading is:
1. 24/7 wordwide. You can trade on the worlds crypto exchanges from anywhere that's not authoritarian
2. The charts are beautiful
3. The crypto industry is getting legit. bad players are getting shown the exit. Don't hold fake "stablecoins" unless who know which gangster/bankster "backs" them. Hint: Pay VERY ATTENTION to UK...
As forecast the market and volatility has been coiling all week and likely into next week too with the election the week after that, I exited 2 pairs trades and put on 1 new pairs trade, long $VGT vs short $FDN. Highly likely I won't enter any new trades next week and flatten the portfolio before next weekend.
Jared
