I went long Friday but I'm not giving it much room to destroy me if everyone uses it as an opportunity to get short or add to there short positions for that matter, its just a punt really
I got in at 4hour support on bitcoin, closed the last bitcoin trade out for a small profit as it reversed and traded below my trendline hopefully this will have more legs
Meaning?!
Just entered this yesterday after a strong weekly break of 200 ema and residence has been overcome, I got in on intraday bounce of 200ema.....
Sorry that was a bad picture, this is a stock I entered at a sideways trend to the moving average after a huge gap up after a company acquisition .....
I have concluded that the best thing to do is wait for a pause and confirm that selling is mainly profit taking light selling and trend is going sideways, when buying resumes I will make an entry.Like this......
Facebooks in a long uptrend wouldn't have thought you will get much of a short run out of it, people will be looking to gain long positions ie waiting for a small selloff
Trend following only works when there are Mega trends in a strong bull market, did not work for the last few years in a crap ranging market, is back in fashion now as we are in a new bull market