In the 1H chart, we can see the price action has broken down from the bullish trend line and there are several gaps that it can possibly fill up. The first one at 117.8 is completed. So, if you want to go LONG/accumulate, go in in tranches instead of one lump sum. Yes, you may lose a bit in brokerage fees but the average price you get is much better.
Nibbled some for now
Please DYODD
Nibbled some for now
Please DYODD
Note
Wrong mindset - if there is gap to be filled up, why don't I wait till it drop to 110.20? Isn't that a no brainer? Yes you are right but the million dollar question is nobody knows for sure how far down the market will drop before it rebound? It is hard to predict ? What if it does not come to the level you want ? Then, a missed opportunity.Buying in tranches - 5% for 117.8, another 5% for 113-114 , maybe another 10% for 110 -112.
Note
19th May it was at 117.8 and it went up without you. However, if you are patient, yesterday, market offers you a 2nd chance to go LONG at same price. Did you go LONG ?Note
So Mr Market is generous lately and decides to give those who missed buying another opportunity. I grabbed you, how about you?Note
Aiya, I bought , followed you and now see, it drops again !!! Such is the mentality of many retail investors. The moment they went LONG, they expect the price to shoot up immediately. Fat hope lah ! Short term, the market is manipulated , that is why it is less profitable to trade than invest , imo. Patience is running thin in this instant gratification society where everything is fast!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.