Tech stocks are setting up a potential trade that I want to walk you through. Here is an example of a trade set up one of my favorite indicators has signaled, the chart that helped me spot it, and the steps you can consider supercharging this move for the maximum potential.

QQQ, or the Invesco QQQ Trust, is an exchange-traded fund that trades on the Nasdaq under the symbol QQQ. It is designed to track the Nasdaq ETF stock market index. In studying the QQQ I have found that Fibonacci Exponential Moving Averages (EMA) are extremely effective at providing great trade signals.

Let’s start with a look at what the NASDAQ, the index QQQ tracks, has done recently.

This chart image is courtesy of FINVIZ.com a free website and gives a quick view of each day’s movement. 

Check out this trading system that so-called "gurus" have been trying to copy for years. They hate that it has so much potential and is super easy--Click this link for details.

EMAs work well as they give a greater weight to the most recent prices and provide signals that tie directly to current price moves. Using Fibonnacci EMAs helps provide price targets to build the most effective positions. To find out more about EMAs, click here.

The EMAs on the chart below are represented by the colored lines:

In this example, you see that the EMA’s are headed up but look like they could be turning down with the red candles over the past few weeks. This lets us know that the market could be changing direction. Since we always want to see a confirmation that the signal is correct, we are going to watch for what this week’s candle and the EMA’s do before placing a trade.

QQQ’s Potential Trade

We are holding off on placing a trade until a clear direction happens.

Trading options can be a win, win, win opportunity.  Options often offer a smaller overall investment, covering more shares of stock and potential for greater profits.

Our lives should be filled with joy. As many minutes throughout the day as possible, we should be happy.  Figure out what you love and do it. Love what you do, and with all your heart give yourself to that love.  Enjoy your life and the people in it. 

I wish you the very best,

Wendy

Exclusive Access--This 6-Minute trading system exposes a "loophole" that turns $600 trades into a 6 figure retirement-at any age!! Click this link for details.

Past potential trade update:

Last week we discussed buying QQQ calls. It did not reach the target entry price.