What mistakes in charting have cost me this year
Slope of Hope Blog Posts
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Gypped
Today sucked.
I can deal with a day that starts off badly and gets worse. But there’s something extra-terrible about a day which starts off with so much promise and winds up being just a horrific shit-show.
The charts below illustrate how, leading up to the opening bell, things looked like up to be fantastic, and maybe even a major breakdown day. Then, hocus-pocus, all the world’s problems were solved based on NO new information whatsoever.
Context. Again.
Well, piss me OFF. This morning was looking like the bears were going to need some much-needed relief, with crypto threatening a major failure and the ES down more than 40 points. But then, straight outta Washington, D.C.,, the buy programs hit with merciless vengeance:
Really Down But Not Out
Let me start off by saying something crystal clear: not flipping from totally bearish to totally bullish on May 20th was the biggest mistake of the past twelve months (probably twenty-four months). I mean, it was right there in front of me: these Fibonacci retracements are not new information. They’re well established. But I got greedy and I decided to wait for more profits, and then BLAMMO, here we are. It’s a damned shame.
When Your Bitcoin Miner Drops 80%
