Support = Buy , Resistance = Sell, is it correct ?
I was too naive to think that after reviewing 10 to 20 charts and seeing a pattern where price bounce off from support and retrace from resistance, I formed a bias view to buy at support and sell at resistance.
Of course, over the long haul, my results proved that I was wrong. On certain occasions, I would like to think I probably enjoyed a stroke of luck to get them right by following this train of thoughts.
I have often said the Market is way too smart to be predicted and it is a futile exercise (at least for me). From this XLK chart, we can see that it has just break out of the resistance level at 102.74 and the last bullish candle signals it would continue to trend higher.
I use Amazon chart as an example to illustrate. If one thinks that upon resistance, the price MUST falls, then they would have missed another 27% returns.
Of course, over the long haul, my results proved that I was wrong. On certain occasions, I would like to think I probably enjoyed a stroke of luck to get them right by following this train of thoughts.
I have often said the Market is way too smart to be predicted and it is a futile exercise (at least for me). From this XLK chart, we can see that it has just break out of the resistance level at 102.74 and the last bullish candle signals it would continue to trend higher.
I use Amazon chart as an example to illustrate. If one thinks that upon resistance, the price MUST falls, then they would have missed another 27% returns.
Note
Hope you guys made some good profits out of this ETFNote
Halleujah....What I like about ETF investing is it takes away the hassle of analysing individual company and allow you to buy many good fundamental companies at a low costs and still make a good profits.
Note
even if you do not know which tech stocks to buy since there are so many and new ones being listed , it can be confusing for one to choose. This ETF solves part of the problem and is offering steady returns thus farNote
Praise the Lord
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.