This channel is at $29-31. No matter if you short or go long. You'll make money if you know how to play a channel. That's where most traders make consistent bank we'll see how my analysis progresses throughout a longer time frame. This thread is about finding shorting opportunities in Wells Fargo over a period of time anyway. I'm not like most OP's who will have a single post and not add to it over a period of time and will run away when their wrong once or twice. To be a good OP you need to constantly add clarity. I'm not like most OP's who will just stick a post on ET just to make a single point on a trade. This thread is about finding shorting opportunities in channels and trends on Wells Fargo. To be blunt it's a thread about being temporarily right and constantly moving on to your next short or long set-up. You seem more like a day trader. I'm a swing and a position trader, you jump up when a stock does something over a period of a trading session. While I react to a trade over a period of 3-5 days in a swing or if I'm in a position 2-4 weeks. I don't mind people running in and posting stuff like it went up 3% and I made $$$ so suck it. or people running in and saying I made 5% on a short and I made bank we're trading channels and people trade different time frames, so we react to charts and events differently. Dude, seriously we're not in trading 101. We're both traders we know markets change. I'm right for one day in a channel and your right the next day it's how it works. We can talk shit to each other too it's fine because we're trading a channel that adjusts into another channel that's what markets are about. Markets change and being flexible is important. But understanding the key fundamentals behind your trading style is even more important. That's why I'm pretty open and talk a lot of crap. That's what an ET thread is for anyway . Well that's my input riskfreetrading.
Agreed!... Wells fargo, and most of the bank stocks will liekly head lower... Its important to watch the dollar and the euro.. It will dictate the markets for a while.