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Once again it will be time for the bulls to step up to the plate...

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richardw
Super Contributor
You sure that's the market talking, not your ego? A different approach might be "ok, you guys got me. nice trade."
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Not applicable
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..
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doomsdayza
Super Contributor
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Mar-11
Super Contributor
will have a look and reply once i have had proper look, not that easy looking at wat someelse is describing....
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richardw
Super Contributor
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.
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Mar-11
Super Contributor
i see ur alternative view, but i think we only start wave 4 down now before 5 up......from 30 jan low
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Not applicable
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.
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SimonPB
Valued Contributor
as Livermore said .. tis about the sitting tight ..
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Not applicable
yes and i am very bad at that..hardest thing in the world to do...and just in case your mind wonders there it has nothing to do with any incapacity in any of my anatomical functions..
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richardw
Super Contributor
You're mixing up my intent here. Not trying to 'punch' you, rather offer a faster way to defuse the situation. I lost money on it, keeping my sense of humour. Still short, remember? Added at 799, 850.
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Mar-11
Super Contributor
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Not applicable
I wasnt saying that...just that u have been known to in the past....but u shud be in profit now?..below 700 as we speak. ...the video is being prepared as we speak...
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Electrox
Super Contributor
talking about shorts the whole day i see.. i would only start now..
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Electrox
Super Contributor
thought i'd give u a "tip" since you said we'll talk today
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G_V_V
Super Contributor
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.
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Electrox
Super Contributor
no GVV..just go with momentum.. dont matter if it up or down..
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G_V_V
Super Contributor
No Elec.. create the momentum or else you will chase your own tail.
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Electrox
Super Contributor
create the momentum by picking a top or bottom?
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G_V_V
Super Contributor
Only God knows the top and the bottom.
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Rams
Super Contributor
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!
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