- Posted by admin
- on May 30th, 2012
Star of the carnage scene today was crude $CL_F which looks to be heading to test the secondary trend-line. Take a look (click to enlarge) at the following weekly chart:
1-2 were tests of trend-line, 3 was re-test of backside, 4 established new trendline and 5 is going to be test of trendline. First test in oversold market usually is good for a short-term trade. We’ll be buyers on any reversal of this trend-line.
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- Keep swimming but with an eye on the shore
- Make peace with not catching every move
- 21 days and counting
- Trade against it
- What’s your edge?
- Wait for it
- Keep Calm and Carry On
- Even if you don’t trade it, you have to watch it
- This is where we would buy AAPL
- No matter what your time-frame, be patient enough to trade against an edge