Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
The new resistance will be the 42.20 - 42.10 area if we break out and continue the down trend. The last resistance was 42.95 which was the last support lost. We over took this level and are above it now. I am thinking we are on the bottom of the leg of an uptrend. I can be totally wrong but this is what I get by going back and studying the CL chart trend legs. It will be an even stronger case if we can break 44.23. Which is the next area of lost support turned resistance as clearly shown on the chart. I am just thinking out loud. I am not profitable but this is what I see when I look at these charts with my own eyes.
Are you alluding to the fractal nature of the markets?
The info you use to make a trading decision is not what makes or loses you money..your gain or loss will be as a result of your actions..or.. inactions!
If you want to draw lines..squares..circles.. triangles..or any combination of same..then you can obviously do so..but..they really are of limited value.. except for one aspect of reading information which seems to be an adequate constant for any financial market that is tradeable
Is this a prerequisite!!
If you want to draw lines..squares..circles.. triangles..or any combination of same..then you can obviously do so..but..they really are of limited value.. except for one aspect of reading information which seems to be an adequate constant for any financial market that is tradeable
Is this a prerequisite!!
No..I am saying that most of what you read about in relation to TA is no better than the DaVinci code..or to be blunt..mumbo jumbo !
It is so obvious..but not to all.. especially those starting out..as they are the most gullible.
It takes years of winning and losing to see it all for what it really is..which is mostly a complete waste of time and effort..and..the reality is that..it really is so simple..is the exact reason why most fail.
Very few grasp it from the start..in fact..I do not know any person who has done so!
How long did it take you to see the light?
I am very stubborn and persistent which means that I will keep going as long as it takes...but at the same time it is my weakness because ill hold trades even when the original premise is becoming questionable. Know thy self is the easy part...to change thy self is the real struggle.
It is not so much how long..but how much!
Some years ago a friend of mine..who traded for many years..said to me.."you will not start to make money until you have lost big three times".
Of course I laughed at him..as I had my multi monitor setup and was ready to clean up after several years of looking at and testing various daytrading strategies.
Guess who was right
What makes you highlight the 2433.50 area?
Looks like this morning we found buyers at the 2328 - 2430 area like usual and it made it up to 2433.50 which you had market out and found some resistance.
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