One more stock for correlation tradingCorrelation trading strategy idea analysis.
Today I have already shown a possibility for correlation trading of $NVDA.
In my other ideas, I showed my vision of correlated moves.
Now I want to tell about another stock for today's correlation trading.
Visa has big enough weight in the S&P 500, so correlation predetermined to be good.
Look on the $SPY and $V 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 $V simultaneously break their resistance levels, it will be possible to buy $V.
When $SPY and $V simultaneously break their support levels, it will be possible to short $V.
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.
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