Community

Share knowledge. Find answers. Ask questions.

Online Share Trading

Engage and learn about markets and trading online

JSE looking for direction

Reply
Highlighted
Super Contributor
ah well, win some, lose some. Stopped out for zero profit but no loss at least. Moral of the story? Always swing in the direction of the primary trend. Upside is very weak so I reckon we're going sideways until the US open
0 Kudos
Highlighted
Not applicable
0 Kudos
Highlighted
Super Contributor
Primary trend is down so I would only look for downside swings for now. What you'll likely see is slow upswings which will generally only revert to the linear regression line or just above it and then downswings to the 2x bollinger line. The writing is on the wall with the fact that the downswing pivots on the 5 min chart average over 400 pips while the upswings only average around 200 for at least the past three sessions. I'm pretty much stepping away from the screen until the Yanks arrive later or unless I see a swing pivot at the upper bollinger
0 Kudos
Contributor
Bad luck Nova! Murphy's law - you get stopped out & a reversal takes it to your target.
0 Kudos
Highlighted
Super Contributor
Yeap, 'ole Jack Murphy is certainly loose out there. Anyway, it was a bad trade, shouldn't have even considered it as it was contrary to the trend and swing trades against the trend are high risk. But I reckon much opportunity into the US open for short swings. Just got to see where bollies settle in the next two hours
0 Kudos