I got close with my plot predictions! Made pretty good money, but don't trust myself when I should.
Bears tried to break the bottom of the channel several times Friday, but ran out of steam. I was nervous about it, but kept buying TQQQ 10 shares at a time under 11k, swung up 80 pts at close for a sweet $600 profit. Left 50 .
Like the title say, trust the trend until it breaks... it's been on this bear channel for 3 weeks, so prolly due for a change, but who knows? Nobody thought we'd have a 12yr bull market and people would still cry about the President. Until it breaks that bottom channel line good and proper, it's a buy. I expect a pump to midpoint of the channel around 11230 in Sun/Mon Pre-market. Then a sell-off, perhaps happening very earlier, referencing the last two Mondays, 26th & 19th.
Still... follow the trend lines. Yellows the supp/res zones of interest. Red is the bear channel, blue dot the mid point. Till it breaks strong, its to be trusted.
Bears tried to break the bottom of the channel several times Friday, but ran out of steam. I was nervous about it, but kept buying TQQQ 10 shares at a time under 11k, swung up 80 pts at close for a sweet $600 profit. Left 50 .
Like the title say, trust the trend until it breaks... it's been on this bear channel for 3 weeks, so prolly due for a change, but who knows? Nobody thought we'd have a 12yr bull market and people would still cry about the President. Until it breaks that bottom channel line good and proper, it's a buy. I expect a pump to midpoint of the channel around 11230 in Sun/Mon Pre-market. Then a sell-off, perhaps happening very earlier, referencing the last two Mondays, 26th & 19th.
Still... follow the trend lines. Yellows the supp/res zones of interest. Red is the bear channel, blue dot the mid point. Till it breaks strong, its to be trusted.
I'm still a relative noob; but I know one school of thought completely ignores news and that is dumb. On the flip side, psuedo-macro-economics should be disregarded if any ego or thumb is present on the scale. It's just a gauge of sentiment anyhow, as well as any little fish can see in the ocean.
It just tries to avoid a tough subject; which is setting your personal, political views and emotions aside when analyzing a trade. While still recognizing others will be swayed.