Corrections can be shallow and rambling - or, sharp and scary - and many things in between.
A Flat can be both - corrective looking A and B - followed by an impulsive C.
So, yeah, we may be near the start of a B.
But, alternatively, this may prove to be a ranging, time consuming Triangle. Or, the market may decide to simply resume the underlying trend.
I’m trying to refrain from trading short term. If I take a position, I have to “monitor” it - and before long, I start checking the markets several times a day. And, I think I deserve some peace of mind. Read a book, take a walk - and other such things.
Lately, when I see a correction coming, I decrease exposure - and try to sit it out. If I’m wrong and it’s not a correction - but more like a serious reversal - that’s where some simple trend following ought to kick in - and save the day :)
There are as many ways to play the game as there are players. No hard rules - except for one: watch the bottom line. Don’t stay wrong for too long.
…the weather IS nice. The spring is a bit late, but it’s nice and gentle. No storm season in sight as yet :) |
