PowerShares Nasdaq QQQ breaking all-time highs again all-time highs broken, expecting a surge. As long term supply and demand traders we have bigger timeframe imbalances that gained control so there is a bullish bias on Nasdaq QQQ ETF.
The top 10 holding for this ETF are below, all of them are rallying, and that’s helping the QQQ to rally as well.
As explained in Set and Forget’s trading community, we were expecting a strong rally and all-time highs being broken and that’s exactly what has happened on PowerShares Nasdaq QQQ. take a look at the weekly timeframe price action analysis below, we are expecting PowerShares Nasdaq QQQ to break the $249 mark any time soon.
This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances, this is the best way to learn how to trade.
Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.
Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
If you want to learn how to trade using our supply and demand trading strategy, join our supply and demand stocks trading courses.
There are several ways of buying stocks and futures. When trading stocks, you can buy shares of the underlying stock or use options strategies to go long or short at these specific supply and demand levels, long calls or long puts or spreads. You can even buy a CFD (contracts for difference) if you are in a country where it’s allowed.
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