.

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
.


The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday, 3 September 2011

Dow

Bearish shooting star weekly candle.Headed for support at next Gann line and 50% retracement ??


Posted by at

3 comments:

  1. Anonymous3 September 2011 at 11:14

    One of the hallmarks of a successful trader/investor is the ability to “turn on a dime” in response, of course, to the market’s own propensity to turn on a dime. If the indicators shift from bullish to bearish, as in this case (indeed, I too got bearish momentum reversals on Thursday and Friday on the daily charts), the successful trader makes the correspondingly appropriate trading decisions. What a “loser” does is the opposite as the emotionally married to and “losing” position is angrily blamed on someone or something else.

    ReplyDelete
  2. Chartrambler3 September 2011 at 13:06

    Agreed HighRev.Last video of Ron'sthat I saw he was still bearish longerterm but turned short-term bull based on BPI,NYSI and a coupleof other indicators.He was quitehonest about the amiguities in the technicals andready to turn on a dime if price action dictated.
    Iwouls appreciate it if people dont post comments anonymously and indulge in abusive comments...criticism is fine,abuse is unnecessary and unwelcome

    ReplyDelete
  3. Chartrambler3 September 2011 at 22:32

    http://2.bp.blogspot.com/-NBGfzXRIxK8/TmIbxqCxq9I/AAAAAAAAGms/STX8XJwoe98/s1600/a2ron.png

    I think this chart shows some of the indicator signals why Ron turned short-term bullish

    ReplyDelete

Subscribe to: Post Comments (Atom)