This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Saturday, 3 September 2011
Dow
Bearish shooting star weekly candle.Headed for support at next Gann line and 50% retracement ??
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.
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
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.
ReplyDeleteAgreed 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.
ReplyDeleteIwouls appreciate it if people dont post comments anonymously and indulge in abusive comments...criticism is fine,abuse is unnecessary and unwelcome
http://2.bp.blogspot.com/-NBGfzXRIxK8/TmIbxqCxq9I/AAAAAAAAGms/STX8XJwoe98/s1600/a2ron.png
ReplyDeleteI think this chart shows some of the indicator signals why Ron turned short-term bullish