Weekly: - firm bearish Ichimoku. - Bearish momentum increased this week in Heikin-Ashi - Price is reaching POSSIBLE bottom of trend channel and a wedge. Wedge only valid if lower line holds. Fetting Oversold! - Maybe in next few weeks we can see some slowdown in selling
Anyway, if it goes at this nominal pace, by Febr/2016 WTI Oil will be free for everybody! Hurray! Please also consider, that since last Muppet eeeee I mean OPEC Meeting all news are bearish! There are only Bears in Oil market! You remember what has just happened to EURUSD right? Get ready for more volatility.
Daily: - Not much to add, it is a falling knife. - For sure the correction will be at least as agressive as this selloff, due to lack of liquidity and probably increased short positions. - Price drop too sharp, far below Kumo and Kijun, EWO also shows it is getting a bit stretched!
Note: I was trying to catch few times a bottom intraday. Even if just in small, but I lost money on 4 out of 5 trades! Conclusion: don't try to guess the market, not even intraday, not even in small! Until you see a clear counter trend signal, the "looks like" opportunities can cause at least a serious menthal harm, if not a financial drawdown. :-)
When u fck yourself mentally with early bottom fishing and multiple stops, it will be a lot harder to buy in again, when the proper signal is there: human nature, your mind will second guess due to hidden fear and negative feedback loops.
Bình luận
jangseohee
⋅
Mokonomo
⋅
Totally agree with your note :) Is it just me or do other people hate trading in every December?
A-shot
⋅
I also got caught with the bad trades in recent intradays cause markets are choppy. Better sit on your hands
JoeZero
⋅
You're right about bottom fishing, It is an ego game. Actually part ego, part fear (of missing the maximum move in reverse).
roninator
⋅
I"m finding trading HOD.TO long has worked very well this week. Despite 30% failed trades I'm up 10%+ this week.