Measuring a Piece of String
Updated
Report back: Green Target 1 was reached. 2 Is still out there, but questions are being asked that needs some attention. Questions? What questions? The thing is that trading relies a lot on measuring. If not, then it would rely on guessing. That is why indicators are so widely used as they give you some consistency of measuring via their inbuilt formulas. Money Man is a bit OCD with consistency and measurement, but not too keen on all the indicators instead of price. Those levels are where he thinks things are to happen. As said so many times; measurements beyond an All Time High are difficult and these foreseen “happenings” could be seen as pivots (very difficult especially if things go parabolic). What is seen to potentially happen there? Run out of gas or (I heard this from somebody – cannot remember his name, think it was Shapiro) where emotional traders meet technical traders.
Conclusion: All is not lost, but it looks like this is a good time to reassess where price is going and add what it has been telling since the last analysis. Remember: no guarantees only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Conclusion: All is not lost, but it looks like this is a good time to reassess where price is going and add what it has been telling since the last analysis. Remember: no guarantees only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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