I became a winning trader when I was able to say,
"To hell with my ego (when I'm wrong), making money is more important."
"Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool - remove one and the stool will fall, together with the person who sits on it. "
"Don't call the market a bull or a bear --it can switch-- just ride the trend"
"When all the experts and forecasts agree – something else is going to happen."
“Markets can remain illogical longer than you or I can remain solvent,”
Dr. A. Gary Shilling
"Time is your friend; impulse is your enemy"
John (Jack) Bogle
"Simplicity in trading demonstrates wisdom. Complexity is the sign of inexperience."
“You cannot teach a man anything; you can only help him to find it within himself.”
"A whole lot of bulls make a bear"
The daily candle put in a pivot low/bottoming tail at 2344 after terrorism concerns via St Petersburgh, Russia triggered a bout of risk aversion.
Daily chart has held Fib 75% resistance on concerns the trump trade has failed and is built on hot air given his health care bill failed to get enough votes.
Weaker economic data in the US + UK failed to support the bullish thesis from EU with stronger PMI and employment numbers.
A drop in US auto sales also hurt sentiment.
60 mins chart is in no mans land , asian markets will now dictate
Resistance seen at : 2370 , support seen at 2325 , 2340.
10 mins - support seen at 2350-2344.
game plan tomorrow: Long at support zones above provided fundamentals confirm, short at resistance zones above given bearish FA
happy to short at 2362-64 zone...targeting 2354-2344 .