These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.The chart says it all.
The cycle in time is now upon us. Monday could possibly be a short term high. The stress is on the word possibly. Could it be a major top? The odds are not in that favour. It does seem that we may have another major move up. But possibly after a correction.
As was suggested on Thursday, at this stage people would be tempted to short. To those people, all I can suggest that trying to catch tops or bottoms is a luxury which disciplined traders had better avoid. The business of trading does not earn money by “predicting” tops or bottoms. But to decide what the trend is and to take a slice of the action, by trading in the direction of the trend.
Please stay alert for a short term bearish pattern, as shown on my Blog. The link is on the right panel.
1 comment:
How i repent not making any money in the last 3 days ! feel having lost out completely, whats more, even had shorted, thankfully not rnrl ! haha
i am throwing in the towels, from now on only buy on dips as suggested ! and no shorting ! (
everytime i give in there is a huge 2000 pts correction, which raises the dead bear in me ! what to do....this stupid mkt really outsmarts me !! and its been doing so successfully since last 3 yrs !! i find it really funny ! any others here like me ??)
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