I am adding onto my position in SQQQ, my last buy in point was $41.85 with the FOMC about to happen over the next 2 days, this is going to be my hedge against any drops in the market.
We're well underneath the Keltner Channel and I expect to either trade sideways for the time being or move our way back into the channel as the next 2 days go on.
We're sitting right under a major area of resistance, we will retest this over the rest of the week.
Depending on what happens with the FOMC meeting, we may see a huge rebound in this. As you may know, asset classes of all types typically jump in price before these meetings.
I may continue to add onto this position as I believe 2023 will be an absolutely s*** show with a global recession / potentially depression incoming.
We're well underneath the Keltner Channel and I expect to either trade sideways for the time being or move our way back into the channel as the next 2 days go on.
We're sitting right under a major area of resistance, we will retest this over the rest of the week.
Depending on what happens with the FOMC meeting, we may see a huge rebound in this. As you may know, asset classes of all types typically jump in price before these meetings.
I may continue to add onto this position as I believe 2023 will be an absolutely s*** show with a global recession / potentially depression incoming.
