This is where discipline pays off, we see my standard "top" setup, and I expect to see resistance at the trend lines, but what to look for is that "resistance" to break down.
all of this assuming that we haven't reversed course, But I think traders were carried away like I was shorting the market, and that gives you this move.. If you notice I marked two other bad entries I made today.
amusing we aren't "off to the races"
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Friday, December 12, 2008
Discipline
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