We are on the way to break the prior lows and create a lower...
We are on the way to break the prior lows and create a lower low. As we are on wave 3 now and also possibly the final wave down before we conclude the correction, it is going to be the leg that is the fastest and the one that catches everyone off guard.
Smart money has trapped most retailers by now playing with everyone feelings going up and down each time creating a lower low and lower high. after trapping, it's time to now flush them out.
This will be the leg where margin calls will activated as those without enough cash would be averaging in on leverage thinking the bottom is really in. There will be the final batch of weak hands who would probably sell out soon after holding out for 2 months. They will probably stop loss once we break the prior lows thinking that it's going to CRASH.
Don't be surprised even some smaller institutions are trapped with high leverage buying the dip. Margin calls don't only happen to dumb money.
This will all fuel the last leg down.
This will all fuel the last leg down.
It is gonna be a fast hit and reverse before even you have the time to sort out your emotions whether you are supposed to buy the dip or hold longer for a larger dip.
Remember, bottom will only be in when you see real panic in the market. do you see it yet? Nope. Warren Buffett quote of "be greedy when others are fearful and be fearful when others are greedy" is used often by ppl who try convince themselves that every dip bought is the real dip.
truth is sometimes they bought too early and market is not yet in the fearful stage but still in the greedy stage. More often than not, when the market reaches that fearful stage, they similarly are in that phase and did not buy the lows. still sitting at the side waiting for more dips when there are none left. so they bought the high dips and did not average in at the low dips. common mistakes of every retailer.
Look at 2018 correction and you see people making that mistake. Same mistakes being made this correction. this is human nature.
that's why ROBOTS do better than human.
that's why ROBOTS do better than human.
stocks tagged all have their technical analysis done in the video!
as always, trade safe & invest wise!
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Fat Veg 7890 : Boss101
Does it mean that today will dip all the way or may just retrace to the 13500-13600ish?
Else got to put limit to sell my sqqq already. Cannot be not sleeping and looking at the indexes sia.
Investing 101OP Fat Veg 7890: no more 13500 to 13600 retrace. it's quite weak.. maybe 13300 to 13400 only.. see if Biden can help me get it higher to short.
Fat Veg 7890 : So should i sell my sqqq and wait for 13400 to buy again?
mr kian : looks brutal today!
Investing 101OP : big retracement probably come tmr instead. base off 2hr. but might only see 13600 around there
mr kian : ppl are eyeing this channel more than the indices haha
generous Cheetah 383 Investing 101OP: So usually use 2H to look for bull or bear for tomorrow?
Investing 101OP generous Cheetah 383: 2hr is creating a bearish divergence on the macd. so we gonna retrace for sure. tmr likely as the divergence only just appeared now.
Fat Veg 7890 : Boss101
Do you suggest i rip my sqqq first then wait for retrace and buy back?
Investing 101OP Fat Veg 7890: I would not bother doing that as the retracement probably to retest 2hr 55ema. few dollars off Sqqq. unless you confident catch back in the right price and also trading high volume. otherwise that few bucks not life changing
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