The best part about trading is "buy at high and sell at low" or did I miss a point or so... over the last many years retail crowd follows the golden rule of buy at high and sell at low and get butchered.
It amuses me how people cannot understand a simple trading logic, or maybe the herd mentality can't get over. Gold for instance is the classic example over here, well its not just gold but spread across every sectors.
We will buy at 2000 and sell at 1860, while this has to be totally opposite, selling at 2000 and buying at 1860 is what we shout be doing and not the other way around.
I now read or see how lot of traders wants to short this market, longer term I am bearish this market (refer to my previous post) but we may have some short squeeze over here, and clearly this is not where one should be shorting this market.
As long as 1835 holds, we may see a short rally towards to the 1950 handle, if market do capture and settles over 1986 then we will hit the upper band and look for new highs.
Use stops and look for levels mentioned.
It amuses me how people cannot understand a simple trading logic, or maybe the herd mentality can't get over. Gold for instance is the classic example over here, well its not just gold but spread across every sectors.
We will buy at 2000 and sell at 1860, while this has to be totally opposite, selling at 2000 and buying at 1860 is what we shout be doing and not the other way around.
I now read or see how lot of traders wants to short this market, longer term I am bearish this market (refer to my previous post) but we may have some short squeeze over here, and clearly this is not where one should be shorting this market.
As long as 1835 holds, we may see a short rally towards to the 1950 handle, if market do capture and settles over 1986 then we will hit the upper band and look for new highs.
Use stops and look for levels mentioned.