Loading ...MUX Breakdown
MUX breaking down from its nice daily uptrend channel.
Note the horsemen 2/4 on sell and the other 2 nearing sell mode. How this plays out the next several days will tell us if this was a bear market rally or this is just a minor pullback in the setting of a bull market.
The BULLS are losing mojo. Today is crucial. The 13/34 EMA on the 15 minutes are BEAR crossed…Best to be flat IMHO. One trading mistake I have made several times is not accepting reality of the situation…HOPE does not work in trading.
The following is exactly what I needed to be reminded of. “One trading mistake I have made several times is not accepting reality of the situation…HOPE does not work in trading”
I have been the worst at doing this. Really appreciate your work Eagle.
Thanks Optional, as FGC stated many times before, “the toughest game on the planet”…One can always see a bear AND a bull scenario in every chart. Keep your positions small, if any, in times like this…always have your mental stops in place…
I.E. When RIC had that first BEAR flag several weeks ago, that was THE warning…Many held on only to be dissappointed.
It seems easy for me to get in that freeze/no decision denial mode if I dont scratch that stop number down on a piece of paper. Thanks for the much needed reminder and the importance of having that number already in place! I once herd the following quote, “when someone shows you who they are, believe them” Ive recently been using that same analogy as a way to condition my mind for trading. (When the chart tells you something, believe them). Thanks again Eagle!
Thanks for the chart Dadoc1!