The coming week is very important for us considering the fact the government goes into the vote of confidence. It is often said that the charts (Price) discounts all news, and with the little bull moves we have made in the last three days it looks like the market senses that the government is going to survive the trust vote. Though I would really like to believe such a scenario, but I sometimes wonder “Can the charts (Price) discount Politicians!!!”? So if you want to play it safe use STOPS or still better is to stay on the sidelines till this dust clears. Not writing much today (did that for the post on Fake moves…), leaving you with the weekly chart (above) and the daily chart (below) with adequate ramblings on them…..maybe they sound intelligent or maybe dumb! Before I leave I would like to introduce a fellow analyst and trader Ilango, his blog I have added to my blogroll, it’s called JustNifty. The man breathes and swears Elliot Waves, so for all the fellow Ellioticians, his blog, I am sure will be a delight!!!
No comments:
Post a Comment