Drip Drip Drip... 2 Mar 2023

١ مارس ٢٠٢٣🖼 Daily Technical Picture 📈

➤ Another down day to start off March. You can see that prices have trickled down slowly drip by drip since the Feb 2 high. It feels like a death by a thousand cuts. Not enjoyable for the Bulls nor satisfying for the bloodthirsty Bears.

➤ It's certainly different to the drops in the past year where they have been fast and furious. This has two potential meanings:

❶ There's a lack of strong selling
❷ There's strong selling still to come

➤ In the first case, the behaviour says that the Bulls will eventually win out. They are absorbing whatever level of selling there is. Bears will exhaust themselves ending in an inevitable levitation in price (perhaps a fast one since there are no more sellers).

➤ In the second case, the dumb Bulls are buying the dip. As a more clever Bull you have the knowledge that there are more sellers than buyers. In order to exit your buy positions at the best price you exit with care, drip by drip. Until at some stage, the dumb dip buyers run out and then the drip feed becomes a selling waterfall as the Bears come to feed.

➤ Conclusion: These are the types of games the big players play. I don't really care for either explanation. My only care is that I grasp this opportunity to make money.