'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Tuesday, August 6, 2013

Crude Wrong Setup

This refers to my earlier post regarding 'Crude Bullish Cup?'. Was wrong with my observation and got stopped at 106 as shown below. That's how the market is, it's all about probabilities, we cannot predict the market movement. All we have to do is admit we are wrong and  move on. Wait for the next trade or look for other opportunities, or might as well reverse the trade. That's how to be in the market, ready to change/adapt. In this chart, the bullish cup with a handle pattern failed.