Key reversal
- Thread starter Lojanica
- Start date
Make note, we correct and range for a few weeks at most and then go to new highs on the year. We don't see 1450 in this time. (see, an opposite prediction, we'll know later in the year which was accurate, but how does that help anyone make profit or improve their market knowledge meanwhile?)
We can make some points on the short side, and on the long side during this time. What is relevant to day traders is the increase in intraday range and trade setups.
Why is there the preoccupation with picking out 1 candle, without any context or understanding of the prior move, and using it in isolation to make market calls (or worse, trades)? Do you guys even know what timelines you are trading on? It makes more sense to maximize your odds by learning how to create accurate predictions of the immediate future.
Which signify what?
Reminds me of the time gold was $550. Sure it had ramped from 450. This guy I know was badgering the crap out of me for one good trade I said "Buy Gold." He argued and huffed and puffed and I said you wanted solid advice on one good trade. To this day the guy is still beligerant because he needed to be right more than he needed to make money. I like money myself.....
Note: condition B was met. Bounced off 54 handle for an easy 8-9 pts. Again, at ~53 for another 6. Likely retest again, for another short. Please tell us of these "accurate predictions of the immediate future"..... :S
See that chart I posted above? Price respect the underside of that established trendline pretty good....
Back at cha
Only 40 pts...
