27-Mar

Daily trend is up, will weekly trend turn up next?

Hello SpikeTraders,Markets have closed higher for two weeks, moving the daily trend from down to up and testing weekly resistance. I posted last week how we have to be careful about becoming bored when there is nothing new to analyze. We do not always get information every day that changes or adds to researching the market. It can be dangerous to become bored with a market that has nothing new to add to what we are analyzing. We can start looking so hard for something we begin seeing mirages. Worse is, we can start looking for information to align with our bias if we have one. So if we have more bullish opinions, we look for bullish confirming data, and if bearish, we look for bearish confirming data. The more important thing is to have a trading plan based on data and research. What does the market have to do for you to take on risk or remove risk? Let's look at the charts...

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