- Category: Analysis
Traders should equate the general market to that of a big river with individuals stocks as floating logs. If ones objective was to ride in the general direction of the current, they would not stand on the bank looking for a log that was bucking that trend? Furthermore, even if they found one that temporarily headed in the wrong direction, more than likely it would only be a matter of time before the log reversed course and also headed in the way of all the other logs.
—Traders would be wise to understand there are 3 directions a market can travel; up, down or sideways. As long as we trade stocks, this will be true – and just as valuable as Livermore’s seasoned trading friend’s advice was then it would be today.
Markets, like rivers, don’t change courses overnight – or even in a few days. It often takes many months if not years to properly establish a trend. Simply pull back any weekly chart over the past couple years and assess where the trend is going. If you aren’t quite sure, then more than likely cash remains the place for you.
Understand this basic, yet key, principle of trading, and you will already be well ahead of most.
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Yesterday ,We had written-Support was at 5399-5394.Made low of 5405.Hurdle was at 5458.It made high of 5454.75.
Last close :5431 Today,Just have a eye on 5458 – level.
-Decisive Crossover with volumes will take to 5472-5476 level.There after Spurt upto 5494 not ruled out.
Will Update more during trading hrs to our Subscribers.
Support @ 5421-3DEMA ,Break will take to 5402 7DEMA @ 5395 Level !!
Three Consecutive close above 5472+Weekly close if Happens then more Firework will start.