$NVDA is good enough for correlation trading today
Correlation trading strategy idea analysis.
The market was very volatile all the last three weeks.
There are a lot of freshly formed support and resistance levels.
So it is a very good time for correlation trading.
I showed my vision of correlated moves in my previous ideas.
Today I am going to show you a possibility of correlation trading of NVDA.
Look on the
SPY and 
NVDA charts.
Actual corresponding support&resistance levels look so much alike.
Correlation is good enough to expect future similar moves.
Following the correlation trading strategy, it is reasonable to wait for correlated level breaking.
WhenSPY and NVDA simultaneously break their resistance levels, It will be possible to buy NVDA.
WhenSPY and NVDA simultaneously break their support levels, It will be possible to short NVDA.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
The market was very volatile all the last three weeks.
There are a lot of freshly formed support and resistance levels.
So it is a very good time for correlation trading.
I showed my vision of correlated moves in my previous ideas.
Today I am going to show you a possibility of correlation trading of NVDA.
Look on the
SPY and NVDA charts.Actual corresponding support&resistance levels look so much alike.
Correlation is good enough to expect future similar moves.
Following the correlation trading strategy, it is reasonable to wait for correlated level breaking.
When
SPY and NVDA simultaneously break their resistance levels, It will be possible to buy NVDA.When
SPY and NVDA simultaneously break their support levels, It will be possible to short NVDA.Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
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