Hello peeps,
Hope you all are well and had a great week, certainly a rollercoaster. Tried 4 trades this week - out of 3 for brokerage and one for a one pip loss. Should I be happy that all 4 turned out to be right calls and went further down or kick myself that I picked 4 duds out of many runners in the market
Just for laughs...I am fine, my MT trades are doing well, so overall I am in front. I know this isn't an easy game, so wasn't expecting money rolling in from the get go, my aim is to stay in the game for as long as I can and learn without burning capital.
As mentioned last weekend, STK was #1 on my watchlist for the week, but it slipped through my fingers countless times when I was next in line in the bid queue, finally decided not to chase. Note to self: don't use the strategy that I've been using for picking MT/LT trades for DT/ST, very obvious of course but not easy to change old habits. Stocks in red (which were green few days before of course) attracting my eyes more than the current green ones...had to slap myself a few times to remind that this is not bargain hunting in super markets to looks for items on sale.
Sorry for the rant! Thanks to many here who put up a number of charts for next week, you are legends! One small contribution from my side that's not mentioned already:
View attachment 3402446Look for a clean break of 8 on volume for confirmation.
Quick question for the TA veterans here: - in an ascending triangle setup, do you prefer volume falling or raising? Based on my research so far, I got mixed messages. One school of thought is - falling volume shows that volume is drying up with higher lows, no distribution and then look for volume on the breakout. Another school of thought is - higher volume shows even stronger up trend with distribution being absorbed and then a stronger breakout possibility.
Thanks in advance and have a great weekend all!
