Correlation trading strategy idea analysis.
The market is going between the freshly formed and confirmed support&resistance levels.
So there is a very good opportunity for correlation trading.
I showed my vision of correlated moves in my previous ideas.
Now I am going to introduce another stock for correlation trading.
Cisco has big enough weight in the S&P 500, so correlation predetermined to be good.
Look on the
SPY and 
CSCO 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 CSCO simultaneously break their resistance levels, it will be possible to buy $CSCO.
WhenSPY and CSCO simultaneously break their support levels, it will be possible to short $CSCO.
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.
The market is going between the freshly formed and confirmed support&resistance levels.
So there is a very good opportunity for correlation trading.
I showed my vision of correlated moves in my previous ideas.
Now I am going to introduce another stock for correlation trading.
Cisco has big enough weight in the S&P 500, so correlation predetermined to be good.
Look on the
SPY and CSCO 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 CSCO simultaneously break their resistance levels, it will be possible to buy $CSCO.When
SPY and CSCO simultaneously break their support levels, it will be possible to short $CSCO.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.
More information: fondexx.pro/
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Here ==> t.me/fndxworld
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
More information: fondexx.pro/
!!! Join our trader's chat !!!
Here ==> t.me/fndxworld
We build a cozy community of professional traders
!!! Join our trader's chat !!!
Here ==> t.me/fndxworld
We build a cozy community of professional traders
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.