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Nice rejection of 20 SMA & also nice to see Oscar Carboni join me in my projection. Love or hate him, he's great at price action analysis.

This is a classic trend reversal formation plus a strong April close above key averages. When you consider what's been happening to majority of other commodities, trend reversal is more likely outcome.

I doubt it's any different at the moment, money is flowing into commodities as hedge against inflation, FED can't stop printing.

That's a great question. I think majority of retail traders, me included, do not commit serious capital to trading, small capital paired with leverage. So you potentially can earn a living out of trading activity, but majority won't be making any sort of fortunes.

I see $200 as the likely next target. Will coffee follow suit of other commodities? It's monthly chart BTW.

The way to stay in the game is by having a RM strategy that assumes you will lose more than 50% of the time. The more the risk, the more the potential gain as well as likelihood or blowing up.

To each his own. The way I trade is by having predefined targets and stops. Trading isn't investing, it will never be as profitable as investing. You let your winners run when investing, when trading I see where closest target is and then workout a stop which must be at least 1:3 of target to...

Ideally, a stop has to be outside the established range, whatever range is being traded. IMHO, this approach trumps all other stop placements within a range. Therefore, initiating trades as close as possible to swing highs/lows is an optimal strategy. I subscribe to the adage of cutting losses...

It is mental and certainly isn't normal.

Could well be. When I said 'topped', I meant next will likely be a pullback or do you expect Nasdaq to only head in one direction?

Looking OK to me, fingers crossed for a deeper retracement towards 20 moving average on weekly frame, more confluence around that area (purple lines).

I am not into candlestick patterns, but did you look at the cash chart, both daily and weekly? Is that not a shooting star?

It's cool bro, I didn't get rattled by your comment. It's the dickheads that consider everyone around them to be inferior. You're welcome to share your thoughts.

Good one, nope :cool:

VIX spiking

DAX looking sick too, time to :vomit: perhaps 1k haircut. I can almost sense the chills down the backs of some managers looking at this, the signal is strong and there's confluence between few important indexes.

VIX is looking quite promising. Let's roll!

@Scataphagos 1. :thumbsup: 2. :thumbsup: 3. :banghead: :D