DislikedHi Rastaman,
I don't think. I lose money everytime I do. Trading is like sitting on the beach: I just watch the waves and react to them.
But right now, I would agree that GU looks to be consolidating. But as Linda Raschke taught in her Chicago seminar years back, sometimes a consolidation results in a reversal and not a continuation. Therefore, I try not to think about whether it will pop or drop. I just do my wave analysis and trade the waves.
Good Luck,
ddaytraderIgnored
Good point DD. Sometimes I can sort of hypnotize myself into a perspective as to which way the trade will pop, which is not a good thing and blinds me from seeing the PA. I need to learn to stop trying to FADE the market and take what it offers, gracefully.
Starting to see instead of just looking.