### Buying the Dip on QQQM ETF
Alright, let’s talk about why buying the dip on QQQM at $199.80 makes perfect sense. You see, the QQQM ETF, which tracks the Nasdaq 100, recently took a tumble from a high of $206 to a low of $198. I seized the opportunity to buy in at $199.80 because, well, buying the dip is a classic move for a reason. $Invesco NASDAQ 100 ETF(QQQM)$$Invesco QQQ(QQQ)$
Looking at the technical analysis, QQQM's recent price action shows it retraced from a high of $206. The support level, around $193.96, suggests a strong base where buyers typically step in. The resistance level, around $207.24, is where sellers might start taking profits. By entering at $199.80, I’m strategically placing myself closer to the support, minimizing downside risk and maximizing upside potential.
Now, about those technical candles. Yes, they provide valuable insights into market sentiment and potential price movements. However, sometimes you have to consider the bigger picture. In this case, I didn't strictly follow the technical candles for a few reasons. First, there's the element of market noise—Trump’s words, for instance. His statements can sway the market temporarily, but they often lack lasting impact. To me, it seems like he's just trying to garner votes. Instead of reacting to every headline, I focused on the broader trend and the fundamental strength of the Nasdaq 100.
Moreover, the moving averages and Bollinger Bands add another layer of analysis. The midline at $187.26 and the upper band at $205.69 help me gauge the volatility and potential price range. The MACD indicator also supports my decision, showing a favorable trend even after the recent pullback.
In summary, buying QQQM at $199.80 was a strategic move, blending technical analysis with a healthy dose of skepticism towards political noise. By focusing on solid support levels and overall market trends, I’m positioning myself for long-term gains while filtering out the distractions.
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