Well, the long down trend that started last year gave us a decent profits on the way down to the last four trades that was written in my previous post. The whole euro crisis did give us some handsome profits. And the question comes to mind… Is it over? Or is it a temporary retracement?
If you ask me, I don’t know… I have long turned my back to predicting the market. And now focused my energy into betting into sure trends. Like the previous euro down trend. My hunch is, the euro crisis is not over. And I’m guessing this is just a short term retracement. What we need to watch out for is its continuation on the down side. But it might take a few more weeks before it shows a good enough sign.
1.3100 is a very strong resistance. Let’s see if it holds.
Meanwhile, I was reading a lot of books and there’s a particular book that got my attention. Its “Reminiscences of a Stock Operator“. There’s a lot of wisdom in this book that every trader should know. The story is very interesting as well, because its based on a true story for the most part.