you are exactly right bro...
bobcor is right on with his latest of many great messages, and i've been saying almost the same thing too since late last year ...and exactly the same thing the past few weeks
stockcharts.com
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stockcharts.com
Message 16849154
i remember when i put these charts up, here, a long time ago, and I got blasted by Allan saying that stuff was as
wild as some of the Security Trader H/S formations<g>
The fact of the matter is, they are spot on for the most part, here and around the world; They were back then, and they are now even more since they've followed thru.
... but they are STILL!! doubted and picked apart by some of the best traders who still are soooo conditioned by the past bull market, and the failure of H/S formations over and over in it.
It's a self fulfilling prophecy, and the people who choose not to trade these formations both short at resistance and long from major multi year supports and measurements are the ones who will be missing out.
It's not about who is right or wrong, it's about what is right or wrong....and it's about having the objectivity and ability to adapt and change to ever evolving conditions around us in the market.
A truly objective trader will NEVER buy the low, but Aggresive traders who maintain strict risk controls should be looking vary hard here for intermediate and swing longs...i think we are very close.
As an aside, i've noticed an extraordinary increase in the volume of posts on this very good thread... and i'm not quite sure if thats a good thing. Lot's of distractions usually lead to lots of mistakes, at least in my personal experience<g>
Message 17759007 |
