agreed...but you at least have to have TA 101 and i can see some are looking at the charts and they think conventional wisdom is enough...I would like to get you view on the action i outlined earlier as being an expended flat...the upside action may look impulsive (because of the speed and order flow) but i can still only see 3 clear waves for the up moves....this makes it corrective for me. The price action has now extended a full 138% of the A wave...great fib ratio for an expanded flat...if it is an expended flat the C wave would either extend a similar aount beyond the B wave making 29970 the target or 100% of the C wave making target 30100..
Just for the entertainment value (and my profit, of course) I'd like to see a serious drop in the next couple hours. That would be priceless. They would sing songs of it in years to come. Videos would be made.
look Richard I dont have a beef with you ...u seem a reasonable chap..sometimes like to throw a punch from behind when the others are punching but can be forgiven....No one got anyone...I have been patiently waiting for the short....got it wrong at 610...got stopped...got it right at 700 for (small profit). I am like you short again and if i am stopped i am stopped. My analysis cannot allow me to go long here and it is telling me that the risk reward is excellent. Thats the way I trade. I am constantly trying to find out if i am right or wrong....I am probably wrong more than i am am right but when i get it right i get the 500 point moves as you have seen. When it get it wrong its a 100 point move. Thats trading.
I have been going short ever since the market has been going up and I went long ever since the market was going down, this way I always make a profit. Go long as the market drops go short as the market rises, don't get greedy.
Lets summarise todays action: even bigger mouthed bulls have not only stepped up to the plate, they have eaten the plate!Trading is simple...setup,trigger then confirmation!Trade well!Dont count the money!