Gloomy days for capital and capitalism ahead as we fast approach the much anticipated 'fear' cycle peak in Q3'17, strap on your seat belts folks, its gonna be a bumpy ride...
aka The Rational Investor
Stop on short setup hit.
Now hunting longs as new 'BoT' setup fired (tweet: https://twitter.com/CRInvestor/status/640180958415622144)
Cheers all and gl in following those trading plans
I was already short, for the record... lets see how it plays out. In my setup, instead of defining the stop through the previous high, i use a trendline traced from the $316 top to the recent $238 top. If that line breaks with volume, or with bullish indicators, then I consider that to be my stop. That way, I can have a tighter stop (plus it actually goes lower every candle), and therefore less risk. Right now the line would be hit at about $231, although its not an automatic stop; it is more the price at which i start to hunt for confirmation to stop.
Makes sense, or is it the most ridiculous thing you have ever read?
hope that helps and all the best
p.s. new school term starts next week, for those that need help in both building and sticking to your plan, consider enrolling in our program....it might just change your life