UPL : STILL IN AN UPTREND

Notes on the chart.
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Regards

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Hello friends, its been long time since I have published any idea. I will surely try to spare some time in future to share my ideas and thoughts.

Market has been wild and could become even more wild in the coming days. VIX is 26 and still rising. I think in the coming days it could go up to 35-40. But even higher levels can not be ruled out. As a trader I think its my responsibility to warn new traders about the uncertainty in the market due to uncertain political environment in the country. Under these situations volatility in the market increases which leads to whipsaws, taking stops of small investors and day traders. Most patterns and systems fails, so people lose money. Most accounts are just wiped out.
Its better to stay out of the market, particularly those having small capital.
Another alternative for compulsive traders is to reduce their position size to 1/3rd or 1/4th.
Don't try to be a hero to take advantage of high volatility, as the typical trader psychology won't let you book profit/loss at the right time.

Trade Safe, Stay Healthy.

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