... and please don't bite my head off.
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Posted 15 April 2021 - 09:51 AM
Is kinda sad that you have to worry about getting your head bit off. People on here need to understand that not everyone on here has been trading for decades so if your new good for you. Always hard to identify a reversal actually no matter what technicals and fundamentals are telling you because trends can last way longer than you expect. I do like to live by the rule the market never goes up forever and it never goes down forever! That goes for all time frames and can turn into an unhealthy market which can also indicate a turn is coming, it might just take a little longer then expected! I go by my expiration cycle numbers but if we use the current move in the market right now as a good example it has just basically gone straight up for 2 weeks with barely half percent corrections along the way. A healthy market see's volatility along the way! With yesterdays reversal from new highs to being down you would expect to see a retest of the old highs which were seeing this morning. Question now is will we turn back down or just continue up, we'll have to wait to see by the close but if we were to close down again or just up a little, the high may be in at least for the short term for this example. Nothing in the market is for sure and can be very frustrating when your new at it and good reason to sit back and follow it till you get a good feel. I've been doing this for decades so don't get frustrated so much anymore as I've learned patience and selling option premium has helped me with that also as you don't have to worry about direction as much. Anyhow in the end you'll learn where to find those turns as time goes by I'm sure and I hope everyone on here gives you some good advice!