Technical Analysis Week 5 + Psychology!15 Nov 2020 21:17
This is the time when you have to guard your mind from noise and doubts. Always ask why you bought this stock and maybe read some of the great posters here (Adam, Jenny, etc.) We will come out on the top!
Just give you guys an example. Bought RMS at 0.36...0.45 and sold above 4p (+1200% profit). It dipped again and bought under 2p and lots at 1p (0.99p). Currently, sitting on 300%-400% profit but looking for more. BBC/ITV interview tomorrow and RNS on orders this coming week . Why did I buy under 2p? Simply because the story never changed! Same here with VAL. The story is only getting better while price is getting cheaper! I’m loading up every week! I’m sure the smart money is buying. Remember when others are getting frustrated/confused/nervous, it creates an opportunity for an informed investor to strike! Making BIG money in the market is +80% psychology.
CCI is in the oversold territory but starting to inch upwards.....RSI flat lined....MCAD oversold....price action flat lined. If you look at the daily chart you have periods where the price action flat lined (remember the TA rule: price action always repeats). When this happens the pressure starts to build and then you get a sudden blow up. On Friday we had a zero rate of change in price action. So I have two scenarios for next week.
1) We could move up towards 50 DMA.
2) We could flat line in price action for the coming week.
It's important to stay positive and patient. We are coming to an important time period. Interest will start building up again as traders/speculators start taking positions. Two more weeks and we are into December. Half of the December month is holiday and I don't think Suzy will push deep into December. It could be a really good Xmas for all of us.
With the S&P/N&Q at all time high and hitting key inflection points. I read most of the posts but trading the big markets keeps me very busy!
Watching NFL today. I really want Tampa Bay Buccaneers to beat the Panthers! It's a crazy game! But I have faith in my QB, TOM BRADY! THE GOAT!
Good luck!
Sign In
Follow the stocks
