The recent sell-off in the technology industry has had a significant effect on Wall Street. Previously, most investors looked at the market as being unstopped, but now most are nervous. This uncertainty is the driving force behind the choppy market throughout the summer times. Here is the strategy you can use to make profits at these times.
These strategies have been developed to make profits in choppy markets. One of these approaches is “Lock and Wall.” Although the strategy has been profitable in the past, there is no guarantee that it will give same results in the future. Only one rule characterizes this approach. You should show respect in the Nasdaq 100 Index, +0.42% for the support and resistance levels.In addition, in case the support and resistance levels of ProSharesUltraShort QQQQID, -0.81% and also in the ProShares Ultra QQQ QLD, +0.78% test or break, they should be traded. More info on this useful link.
Mastering of these rules can enable you to do various things. For instance, when support is tested by QLD, sell the target resistance. You should only sell QLD when the support breaks. In addition, target support should be sold whenever resistance is tested by QID. Otherwise, you should QID when resistance breaks. A relevant article to read here.
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Nervousness and cold feet seems to characterize Wall Street lately. The arrogance of rich investors and giant businesses has somewhat been replaced by the cat like cautious maneuvers. Those who deemed the market unstoppable seem to have had to eat humble pie as they are now among those who have decided to take things a little slower.
The cautious nature in the markets has in turn led to the current choppy market experience. In this setting, there are price fluctuations which are not significant whether in increment or in reduction. Some knowledge on how to trade in this market is quite important since the delicate nature of the market may cause serious miscalculated trades and consequent losses.
The ‘lock and walk’ maneuver is one that works in such settings. The strategy pays attention to the support and resistance levels when dealing with the Nasdaq. This knowledge will guide investors and traders on when it is proper to trade the ‘ProShares Ultrashort’ or others.
Resistance to sell should be paid attention to especially when support is being tested using QLD. In case support breaks, then it follows that QLD ought to be sold. Conversely, if resistance is tested, QID, sell support should be targeted. If resistance breaks, QID must be sold. First glance might suggest a complexity in the rules, but this is not entirely the case. Ideally one should make a purchase near support and sell when near resistance. In case support breaks, then you should stop activity at once. Check on investing.com for more trading article.
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