Just a condition statement in chart format for QQQ for the dip buying enthusiast.
Price is sitting at April support backtest as RES at 333.94!!
ATH to March low fib is below that price, at 332.59!!!
Trade strategy is to dollar cost average 20%/30%/50% into 331.74/329.84/326.76 areas, save the heaviest buy for 326.76.
Stoploss for the trade is the gap at 323, plan is to cut 50% of position and wait for 316 at the March low before deploying new capital.
This is a volatility reducing swing strategy using fibonacci levels from different time frames and pivots to define risk and cost average.
A break of 336.65= ATH test!
Price is sitting at April support backtest as RES at 333.94!!
ATH to March low fib is below that price, at 332.59!!!
Trade strategy is to dollar cost average 20%/30%/50% into 331.74/329.84/326.76 areas, save the heaviest buy for 326.76.
Stoploss for the trade is the gap at 323, plan is to cut 50% of position and wait for 316 at the March low before deploying new capital.
This is a volatility reducing swing strategy using fibonacci levels from different time frames and pivots to define risk and cost average.
A break of 336.65= ATH test!