From here the odds are very high that the market will turn south for a hike to the L-MLH. Remember bevor you initiate trades: I wrote "ODDS"...not "it WILL".
And when we play with odds, they can flip around however they like to, because the odds don't care about the fork or our opinion.
Applied to the Chart analysis it means, that price could jump above the centerrline and even close above, bevor breaking down again or shoot up to the U-MLH!
P!
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That's exactly what I meant.
So, short Ideas are gone for now.
I wait if the market pulls back to the CL and hunting for longs.
This is how I use my charts...I follow the market, observe, look for a good entry and then pull the trigger. This is all I can do as a Trader, because after the trade is working, I can't do anything anymore then controlling the risk - that's it.
Don't use Charts to forecast. Never use them to support your opinion. Use them to lead you to a good entry. Then act accordingly to your strategy, system, setup, whatever your stats tell you works most of the time.
Nice...I'm with you, shorted AAPL, FB, NVDA, GOOG yesterday. (Sadly have a small NFLX short to cover in loss, unless it comes down quickly today-made a mistake with the earnings time...was after the close, lack of coffee does that I guess)
Best of luck my friend.
Tr8dingN3rd
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Hi Ivan
Thanks, and yes, I'm short AAPL too since yesterday on a perfect PB to the centerline.
Oh I know such failures caused of lack of coffee hahaaa...
Best of luck my friend.