People always say that trend is your friend but many traders are still failure after following the trend. What’s your opinion?
Because they - don't know how to read the charts - they read the charts upside down - they wait for all the 9 planets to be aligned to confirm the trend. By the time they enter, TOO LATE! - they don't wait for confirmation etc etc etc
If the trend was your friend then why did the spy break 420 which was the s&p breaking point, settle down for a few days and then surge to 450? ??
S R lines are not concrete walls. It is a permeable membrane. Anyway, the 420 level seems to be insignificant.
It seemed significant when it broke according to most....some even were saying we were headed below 4000...... And now 3 weeks later everyone on cnbc etc is more bullish than the next suggesting that the markets are only going to continue to surge from here saying there is nothing now to worry about.
Sp since we are talking about trading trends let's see someone here make a call based on following a trend that will be late say 92% accurate? Who wants to go first??? Let's see if the trend is your friemd??