Having said all that, this is typical of buying climax or what VZ calls "mob mentality". Go pied piper!
In the end - all that matters is if price is going up or down, IMO.
ES Journal - 2019/2020
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In the end - all that matters is if price is going up or down, IMO.
IMHO what matters is if we're trending or in a rangeIn the end - all that matters is if price is going up or down, IMO.
IMHO what matters is if we're trending or in a range
If you know the direction like @Laissez Faire stated, I could care less whether it is ranging or in a trend. Direction = $$$ regardless of behavior of the movement. That being said a solid trend in one direction will make your life easier for less order dropping and commissions.
If we get to 3100 - what's to keep us from going back to 3400?
At that point you'll have blown the lid off the 61.8 retrace + most of the supply on the left side of the chart.
When we were at 3400, a lot of folks here thought we would be heading up to 4000 in a jiffy. Everyday was kumbaya. Sadly, in life, things can go terribly wrong in a split second.
In the end - all that matters is if price is going up or down, IMO.
Sane traders should be able to keep their bias in check, and focus on capitalizing the opportunity that market offers, up or down, not like a one-trick pony.
It is always easier and more profitable to GO with the trend than go against the trend.
If you don't have a solid and reliable charting system that show you the trend, work hard to establish one, if you have one already, follow it to make some dough, no need to second guess where market is going.
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When we were at 3400, a lot of folks here thought we would be heading up to 4000 in a jiffy. Everyday was kumbaya. Sadly, in life, things can go terribly wrong in a split second.
I agree and am not saying that happens. But don't think for a second it can't happen no matter how much you think the market needs to / should be going south.
Anyway its all conjecture. Follow the bouncing ball as @speedo always says.
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