This could be you or me or anyone else for that matter.
Trend lines and patterns are just a guide , not a 100% accurate , must happen thing for the Market to follow. Anyone attempting to control the market are either out of the market , cursing and swearing never to get in or have busted one too many accounts.
This entire selling saga lasted for 427 days; ie one year and two months. Do you have the patience, stamina to wait that long? Most retail traders would not , I think, maybe a small minority.
Here's a valuable lesson that we can all learn -
If we divide this shorts into 3 trades, then it is likely we are taken out on the first one as the SL would be hit. 2nd short if your SL is above 46.45 , just slightly more , at 46.69 , then with patience you hold this trade and add shorts on the 3rd attempt, you should be handsomely rewarded.
Of course, this is on hindsight and without emotions , it is so much easier to analyse in a logical manner.
The benefits of studying past historical patterns is Mr Market will repeat itself again and again. We just need to be a little hardworking to identify these patterns and understand how to avoid the pitfalls and understand the risks involved.
Not all shorts are 90 degree plunge down and even if it does, you might not be quick enough to catch it. With this kind of shorts, it is on the other extreme, it drags on and on , testing one's patience to the limit.
Like the SPX500 and other indices now, if you believe it is a bear market rally, then how long more will the price continue to rise bit by bit and for how long before we witness the next plunge ?
Trend lines and patterns are just a guide , not a 100% accurate , must happen thing for the Market to follow. Anyone attempting to control the market are either out of the market , cursing and swearing never to get in or have busted one too many accounts.
This entire selling saga lasted for 427 days; ie one year and two months. Do you have the patience, stamina to wait that long? Most retail traders would not , I think, maybe a small minority.
Here's a valuable lesson that we can all learn -
If we divide this shorts into 3 trades, then it is likely we are taken out on the first one as the SL would be hit. 2nd short if your SL is above 46.45 , just slightly more , at 46.69 , then with patience you hold this trade and add shorts on the 3rd attempt, you should be handsomely rewarded.
Of course, this is on hindsight and without emotions , it is so much easier to analyse in a logical manner.
The benefits of studying past historical patterns is Mr Market will repeat itself again and again. We just need to be a little hardworking to identify these patterns and understand how to avoid the pitfalls and understand the risks involved.
Not all shorts are 90 degree plunge down and even if it does, you might not be quick enough to catch it. With this kind of shorts, it is on the other extreme, it drags on and on , testing one's patience to the limit.
Like the SPX500 and other indices now, if you believe it is a bear market rally, then how long more will the price continue to rise bit by bit and for how long before we witness the next plunge ?
