From
markaylatimertrades.com
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Markay@markaylatimertrades.com
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Wed, Mar 3, 2021 02:02 PM
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Hi There! Happy Wednesday. I think a lot of times, people make the mistake of assuming that traders
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Hi There! Happy Wednesday. I think a lot of times, people make the mistake of assuming that traders who have been doing this a while always know exactly whatâs going to happen. But nothing could be further from the truth! I pride myself on reading a chart and understanding it better than most. Youâve heard a lot lately about how I read candlesticks and about how I use moving averages. Those indicators teach me a lot about the stock market and help me predict how particular stocks, ETFs, etc. are going to move. But they arenât a crystal ball! And during times like this where the market is fairly sideways, and where volatility seems high. Let me show you what Iâm talking about on a chart: This is just a simple chart of the Dow Jones from yesterday. Over the course of time (the pink lines), you can see a tightening of the momentum of the Dow over time. Overall, thereâs still upward momentum present, but itâs a slower churn than what we saw back in April after the initial crash ended. But in more recent days, since the start of February or so (blue lines) weâre seeing an even more sideways market. It looks like a reversal is very possible. At the very least, the market is caught right now in a pattern that it doesnât seem confident about breaking out of in either direction. Now, remember, hand-drawn trend lines like these only tell you so much. But during these times of uncertainty, itâs important not to get out over your skis.
You want to be careful and keep your trades small, keep your stop losses tight, and just be smart. Of course, those are all [traits that make successful traders]( in the first place, regardless of market conditions. But they are even more important right now, during times like these. Iâm not trying to be doom and gloom. THe market could very well go right back into a bullish trend and continue to climb. But thereâs cause for concern. And when thereâs cause for concern, thereâs reason for caution. Thatâs all for me right now. Check out [the recent interview I did with Rob Booker]( if you havenât seen it yet. I had a ton of fun with him recording that! Chat soon, Markay Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. You may lose more than you invest. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The information on this website is intended as educational in nature and we do not recommend that you buy or sell any specific financial instrument. Â Â Daily Profit Publishing , 1800 Hughes Landing Blvd. Ste. 200, The Woodlands, TX 77380, United States [Update your subscription]( â [Unsubscribe](
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