NDX is hitting up against limits within a rising channel that started back on Oct 3, 2019 that is now up 20%. After yesterday's Fukery move we have now developed a Megaphone structure. Typically this has two basic probabilities.
A seasoned trader understands the difference between PROBOLILITY and POSSIBILITY! Anything is possible but not probable. Experienced traders never guess as to which of the two probabilities it will be. Instead, they find the risk-reward points that best suit them and manages the trade. No one can control markets but you can control and manage your trades.
- 1. Rides the upper trendline a bit more and corrects through time.
2. Sharp reverses and corrects within the channel and possibly breaks it.
A seasoned trader understands the difference between PROBOLILITY and POSSIBILITY! Anything is possible but not probable. Experienced traders never guess as to which of the two probabilities it will be. Instead, they find the risk-reward points that best suit them and manages the trade. No one can control markets but you can control and manage your trades.
Comment:
Still looking for the pause to a correction. It's havings a bit of a hard time as expected. Again the pause could occur a bit higher. Perfectly normal.
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