To continue the topic of investing in China, I am using CHAU chart, which is the CSI300 2 x ETF chart. CSI300 chart is available else where but not on TV.
1. CHAU, the 2x ETF of Shanghai traded CSI300, similar to SPY500
2. NIO, Chinese rival of Tesla. I like its CEO humility and customer service focused business approach.
3. TIGR, 150% ...
All the Chinese indices are breaking out. Most importantly the Shanghai A 50, similar to Dow Jones 30, is breaking 5 year top. But here I am using the more available CSI 500 which can be similarly effective.
1. We knew China Economy has been growing like wild for years if not decades BUT Chinese stock markets are NOT reflecting that.
2. Chinese and Chinese...
1. This is a case of extreme "High Pole" formation.
2. There are not just ONE but TWO gaps underneath the current closing price.
Both of which are actually very BULLISH.
Correction are reasonable however even more IMPORTANT is the HOLDING THROUGH CORRECTIONS and STAY IN for MORE PROFITS.
If you got decent entries, stay in for AT LEAST 2 more WEEKS.
ICPT is a perfect example. The chart was "nuked" before the open to multi-year low. It is not the best way to trade stocks however if you really want to buy ICPT on the cheap, wait until the 3rd day, near the close.....if there is a 'sign' then.
High Pole formation is probably one of the most powerful chart pattern you can find, where the price is far far away from MA's.
Bought for a swing with reasonable short term price target of additional $10 move higher.
How to trade 3x ETF's?
When to trade 3x ETF's?
When to hold 3x ETF's?
For how long should you hold 3x ETF's?
The Answer is worth millions, enough to generate enough income for the rest of your life, and it is simple.
TREND is the answer.
Holding it as long as it is TRENDING. There are enemies on your way of trending, noises.
Trading with the trend is The...