I have to disagree. A good trader knows how to trade both trend and counter trend and make money both ways. The concepts utilized by by Buy1Sell2 and Spectre2007 are all you need to know. GOOG 250 and ES 758 better pull up your shorts. The double bottom after 758 is the buy. If that does not hold, you better really lock and load and phone up those who lived during the great depression. all the best from nadir to zenith.
I like these dragon formations. IS there a "reverse dragon" pattern? or a bullish equivalent? Just bought 1000 XLF @ 9.63 Looking to add more and also INTC, MSFT as markets test SPX 760
I remember spectre laddering buy stops all the way up on a fed day, one of the best trades I have ever seen real time. clever that one. Nice trading Pekelo.
Yes, I posted one about 3 days ago. search for "upside down dragon". Due to general market weakness it didn't go as high as expected (height of the M) but the pattern was recognizable and once we made a 3rd, higher high we sold off decently... An upside down dragon is a double top short failure (M instead of W) that makes a 3rd higher high app. the same distance from the failure point than the height of the M.
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