This is the FNGU ETF at the 4 hour. It's a 3x leveraged ETF for mainly big tech. Well, FATMANG stocks make up over 40% of the NQ - possibly more by now.
This is one of my favorite ETFs to swing trade and scalp. The channels are aligned with the NQ channel that I published. FNGU found support at the middle of its channel... just like NQ. I am not sure how far this bounce will be.
NQ can make great gains, but the weak breadth makes rallies hard to sustain.
This is why I am waiting for the NQ to reach a major support. As you can see with FNGU, you can lose a lot in one day. If you wait until major support, you can serious bank the big bounces. The last big bounce increased the FNGU by over 60% within 2 weeks.
I am not a financial advisor. However, I would not recommend holding this ETF for long periods of time. 1-5 trading sessions at most. If you want to mitigate your risk, just scalp it.
This is one of my favorite ETFs to swing trade and scalp. The channels are aligned with the NQ channel that I published. FNGU found support at the middle of its channel... just like NQ. I am not sure how far this bounce will be.
NQ can make great gains, but the weak breadth makes rallies hard to sustain.
This is why I am waiting for the NQ to reach a major support. As you can see with FNGU, you can lose a lot in one day. If you wait until major support, you can serious bank the big bounces. The last big bounce increased the FNGU by over 60% within 2 weeks.
I am not a financial advisor. However, I would not recommend holding this ETF for long periods of time. 1-5 trading sessions at most. If you want to mitigate your risk, just scalp it.