Today market was bullish, closing price above 8 MA, yesterday's high. I made profits because I traded from long side. However, we are approaching to the recent market top of 5/21/13 very soon on Monday or so. I noted Stoch RSI is about to close, up trend steam is running out...
This doesn't mean I have to start to short. Not yet, because MACD is still up pointing. There is some energy left to upside.
Monday the top will be tested, either going up to the top, making double top or fall down from there, depending on market sentiment from the retail sale report, manufacturing index , inventory report on Monday 8:30 AM. Very interesting week is coming....
I just follow trend, up and down, either way. I don't care up or down. As long as there is volatility, I make profits daily. That's my goal--consistent profits.
This doesn't mean I have to start to short. Not yet, because MACD is still up pointing. There is some energy left to upside.
Monday the top will be tested, either going up to the top, making double top or fall down from there, depending on market sentiment from the retail sale report, manufacturing index , inventory report on Monday 8:30 AM. Very interesting week is coming....
I just follow trend, up and down, either way. I don't care up or down. As long as there is volatility, I make profits daily. That's my goal--consistent profits.