Today was a very ugly reversal to the downside

Pricechange said:
Derek's comments yesterday finally coming to light here today
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Wrong.
Derek's comments yesterday finally come to the opposite of light (ie darkness ) here today.

Those day traders who traded with trend profited massively.
While those who read the chart upside down
and those who traded against the trend suffered miserably.
 
Trends change. As traders, our job is to have our trades aligned with the trend. If not, you will get run over by the prevailing trend. There is a short term trend, medium term trend, long term trend. It depends what time frame you are trading.
 
maxinger said:
Today was a very ugly reversal to the downside -->
Today was a very profitable reversal to the downside


Unfortunately, NQ trendiness was not that great.
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%%
I dont know about subjective stuff like ugly/LOL
SPY inverse did fine/profitable , hourly charts, 200 period ma.............................................
 
Pricechange said:
many many more ugly reversals....indeed
My second day in heavy SQQQ
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I'm swing trading SQQQ, as always I'll add at new highs, or scale out if it loses pdh 25.4 -- nice chart:



sqqq17sepv.jpg
sqqq17sep6mon.jpg
 
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