The trend is your friend. We as traders hear this all the time but it's really the truth. One should internalize this mantra and make it his/her own. So often traders try and impose their views on what SHOULD happen next in the market rather than what IS happening. You should not worry yourself on projecting where the market SHOULD go next. Only concern yourself with where the market IS going. Current price action is all the information you need to make an informed decision as to what your next move should be. Take it from an ex-Elliottician, prediction in the markets will get you killed, eventually. Instead, only observe what the market IS doing in the present moment in order to gain profit.
Markets are erratic and almost completely unpredictable. The best you can do is follow the trends and let nature take it's course. Sure, you will be wrong at times, but when the trend picks back up and moves in a big way, your profits will definitely be higher than your losses.
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