Ain't that the truth. And I also wish I could get half the money I would've made reversing my position at the point I decided to throw in an absolute disaster stop, and placing a limit order to take my profits at that price.
The only problem is that everybody (me included) looks for such moment. Experience in such cases learned me that they will not continue until most of us will give up. Howewer at 1188 if it will start show sign of rebound Iwill buy it.
I'd be careful on a dip below Friday's support. 1193 was the 20-day moving average. That was the sweet spot for trend followers to add to or initiate a long position. If it dips back down there and breaks out, that could indicate a trend reversal. Price hasn't closed below that line since 8/31.
I believe that we will see this month 1070 like minimal downside target. Until 1020 I will say that it is not trend reversal, we are still in uptrend. Bellow 1010 that will be different situation. However I am sure that bellow 1070 will PPT start using large cailber weapons
I see quite a bit of confluence at last year's Hi, that was the obvious breakout point this year. Line in the sand. The big news is going to be bailout of Ireland, as default is less expected to take place â¬2 trillion QE has been suggested by some analysts. They are in a total mess.
My swing signal went short at 3:30 Fri. Entry at 1202.50. Sustained move above 1205.50 would reverse signal. Stop above 1208. QE monkey business is a significant risk to any short position, but it's becoming politically, more costly to be onside with Tim and Ben so change could be in the wind - interesting times