Can you see yourself buying into the move below? It’s a strong, steep rise—the kind of trade you dream about, right? Now imagine you're a passenger in a car travelling at 50mph/80kmph on the highway, approaching a busy intersection.
Can you see yourself buying into the move below? It’s a strong, steep rise—the kind of trade you dream about, right? Now imagine you're a passenger in a car travelling at 50mph/80kmph on the highway, approaching a busy intersection. The lights are amber, and you see them change to red. But your driver must be in a dream as the car isn't slowing down. You’re about to run a red light, and it scares the daylights out of you. Intense fear can happen when you're trading.
If all of the above isn't enough to stop you from going long, the price has reached one standard deviation above a volume-weighted average, anchoring it to the downside. And what do all these red traffic lights represent?Multiple points of evidence.
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