As the selling accelerates into the close, holding YM shorts into Friday. Expecting mimimum 300 point plunge with a potential of 1000 plus. surf
It will be for sure. But expect heavy drop whether it will happen in a day or a month remains to be experienced. surf
Did better than i thought. Drop of over 100 pts. Did you take a profit surf or are you holding short still? Congradulations
Ok. Might want to watch carefully though. On 5,15,30 min charts it is still good for a shorting position. But 1 hr chart is holding on for taking a long postion. Of course that can change and it may continue down but at the moment some buying has come in near the close. That may increase in the wee hours of the morn or the drop may plunge more. It is forming a wedge bottom on all four TF mentioned above and the likely resolution is a b.o. reversal to the upside. However, if the wedge bottom pattern does the unlikely and goes down (i.e. the wedge bottom fails) then it is reasonable to look for two more legs down. I am writing this at 5:28 central time a little over 2 hours after rth close. Good luck!
See if you can spot where the finger is! Catch a short term high, now that really is a fools game. As I said, all that matters is the bottom line. If you want to be somewhat serious about a journal, then when you open a position you should state the stop and exit target also, that is if you have one of course
It is only ever good for what it actually does. The biggest problem that most face is that they have limited knowledge in relation to analyzing the markets, or to be more specific, limited chart reading skills. If one looks at charts expecting some TA indicator to reveal what is actually happening, then rest assured you have been sucked into the big and wonderful world of trading by those who make money from gullible people. It is very simple - if you are losing money then you do not know what you are doing, and, if you continue to lose money, then you really are a sucker, and you ill fortune is due to the likes of David Goodboy publishing silly and ridiculous books, that are really no better than the "Shovel Sellers". You will not find Gold in those Black Hills, especially if you are looking at the wrong "Mountains"