πΌ Daily Technical Picture π
"The market has broken out,
So has my trading drought,
We are back in the action,
Will we profit? That is the question."
β€ The colour theme of today's chart background is fire π₯ because it looks like the equity market is red hot. Is the Bear market over? It's certainly pointing that way. π
β€ To be frank, I'm not a big fan of breakout trades. It probably worked very well during those times before I was born but these days there are more fakeouts. Price may either completely reverse or sometimes retrace the break. Both actions can result in an exit for a loss.
β€ If I lose, I guess I can always quit trading and make money through rhymes...Oh wait there's CHATGPT.
β€ I'm long with a large position
β€ Conclusion: π MrStocky the Sometime Trader, Rhymer of Words, King of Patience, Protector of Profit (but not yet the King of Copytrading)
EQUITY TREND:
β¦Ώ Short-term (weeks) - UP
β¦Ώ Medium-term (< 6 months) - UP
β¦Ώ Long-term (>6 months) - DOWN
"The market has broken out,
So has my trading drought,
We are back in the action,
Will we profit? That is the question."
β€ The colour theme of today's chart background is fire π₯ because it looks like the equity market is red hot. Is the Bear market over? It's certainly pointing that way. π
β€ To be frank, I'm not a big fan of breakout trades. It probably worked very well during those times before I was born but these days there are more fakeouts. Price may either completely reverse or sometimes retrace the break. Both actions can result in an exit for a loss.
β€ If I lose, I guess I can always quit trading and make money through rhymes...Oh wait there's CHATGPT.
β€ I'm long with a large position
β€ Conclusion: π MrStocky the Sometime Trader, Rhymer of Words, King of Patience, Protector of Profit (but not yet the King of Copytrading)
EQUITY TREND:
β¦Ώ Short-term (weeks) - UP
β¦Ώ Medium-term (< 6 months) - UP
β¦Ώ Long-term (>6 months) - DOWN
π eToro Popular Investor π°
β Copy My Trades @ eToro, www.etoro.com/people/mrstocky
β Verified Track Record π
Not Investment Advice
β Copy My Trades @ eToro, www.etoro.com/people/mrstocky
β Verified Track Record π
Not Investment Advice