Concha shares (LSE:CHA) have the tendency to
continue going north – though in a slow and gradual manner. There is no big
momentum in the market but the shares are fairly strong.
The
ADX period 14 is not above the level 30, confirming the aforementioned low
momentum in the market. The ADX DM+ is, however, above the DM-. The bulls still
have upper hands in the market. The MACD (default parameters) has its signal
lines above the zero line. But its histogram is below the zero line. With an
increase in the market momentum, the histogram would soon appear above the zero
line. At that time, the ADX would have risen above the level 30, thereby
showing a Bullish Confirmation Pattern in the market.
Conservative
traders could wait until the Bullish Confirmation Pattern appears before going
long on Concha. Dr. Van Tharp says that most people make the mistake of looking
for trading techniques right away without first working on themselves. When you
do that, you end up making thousands of mistakes.
We
want to avoid mistakes by sticking to our trading rules.
This forecast is ended by the quote below:
“As humans we always want to be right; we hate being
wrong. You can’t think this way in the world of trading and investing because
the truth is, you will have losses. Embrace those losses as a part of your
winning strategy and keep them small.” – Sam Seiden
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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