The Lost Bearš» Tapes; No idea is Original, Nothing new under...
The Sideways Bear Snake with No Volume, continues to meander along the weak fundamentals train.
My new idea under the sun?
Adjust your stops. Hold your ass in. Rip and dip for another few sessions until we get a signal. If we hit a sideway trend line by next week... start to unwind anything under 23000. Iām short now but if volume fails to come back and we move higher but under 25200/300 level - Iāll short the dirty 30 again!
Summary
A lot of panic unwinding of sell positions today gapped the market up and pushed it over resistance. Letās monitor for support this week. Still no volume. Fundamentally. Nothing changed.
Donāt let the fancy charts from these āproāsā fool you. Anyone can label a resistance level and support line and draw and up and down arrows with a MACD indicator and retrace some Fibonacci levels. (Which means.. so can you too)
My plan?
1. Look for the volume to match any supposed breakout
2. Look for 4hr candles closing above the 25000/25200 level.
3. Broad market gains outside the tripple QQQās / based on solid earnings or suprising positive economic results
None of these things have happened as yet. And any 1 of these things - on their own is still not indicative of a price surge. thatās why im still bearish. š» And you are too.
itās why your reading this.
Iāll leave you with some wise words from renowned New York writer, musician and thinker, Nasir Jones.
āNo ideas original,
thereās nothing new under sun.
Itās never what you do,
But its how its done
What do you base your happiness around? Material, woman and large paper?
That makes you inferior,
... not major.ā - Nas, Lost Tapes, 2002
š„š„š„
āāāāāāāāā
Bio
My name is Charles Sankara.
Iām a global traveller and equity day trader.
Iām in love with South Holland and Nairobi - but all my loved ones live in London so Iām often based here (bummer)
I did worked for the largest global investment bank for over 10 years. I then ran a micro company before leaving the UK in 2014. Since then Iāve been trading my own strategies- with modest success.
Feel free to follow along for the ride.
Disclaimer
All my ideas - are just that... ideas. Please do NOT use these ideas as the SOLE basis for ANY financial investment. These ideas work for me, doesnāt mean without the proper research and timing, theyāll work for you. Feel free to comment or email any questions directly.
šš¾Happy trading! šš¾
My new idea under the sun?
Adjust your stops. Hold your ass in. Rip and dip for another few sessions until we get a signal. If we hit a sideway trend line by next week... start to unwind anything under 23000. Iām short now but if volume fails to come back and we move higher but under 25200/300 level - Iāll short the dirty 30 again!
Summary
A lot of panic unwinding of sell positions today gapped the market up and pushed it over resistance. Letās monitor for support this week. Still no volume. Fundamentally. Nothing changed.
Donāt let the fancy charts from these āproāsā fool you. Anyone can label a resistance level and support line and draw and up and down arrows with a MACD indicator and retrace some Fibonacci levels. (Which means.. so can you too)
My plan?
1. Look for the volume to match any supposed breakout
2. Look for 4hr candles closing above the 25000/25200 level.
3. Broad market gains outside the tripple QQQās / based on solid earnings or suprising positive economic results
None of these things have happened as yet. And any 1 of these things - on their own is still not indicative of a price surge. thatās why im still bearish. š» And you are too.
itās why your reading this.
Iāll leave you with some wise words from renowned New York writer, musician and thinker, Nasir Jones.
āNo ideas original,
thereās nothing new under sun.
Itās never what you do,
But its how its done
What do you base your happiness around? Material, woman and large paper?
That makes you inferior,
... not major.ā - Nas, Lost Tapes, 2002
š„š„š„
āāāāāāāāā
Bio
My name is Charles Sankara.
Iām a global traveller and equity day trader.
Iām in love with South Holland and Nairobi - but all my loved ones live in London so Iām often based here (bummer)
I did worked for the largest global investment bank for over 10 years. I then ran a micro company before leaving the UK in 2014. Since then Iāve been trading my own strategies- with modest success.
Feel free to follow along for the ride.
Disclaimer
All my ideas - are just that... ideas. Please do NOT use these ideas as the SOLE basis for ANY financial investment. These ideas work for me, doesnāt mean without the proper research and timing, theyāll work for you. Feel free to comment or email any questions directly.
šš¾Happy trading! šš¾
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.