Traders waste a lot of time, energy and effort on stuff that has NO BEARING on their P&L at the end of the day / month / quarter. This waste often takes the form of pointless questions. Where do I think XYZ Stock is going to go? I don’t know, I’m neither long nor short, so why should I expend energy on a question that vague when I can instead focus on trying to find the next high conviction opportunity where I actually intend to take a sizable position?
How high do I think crude oil will go before it tops? Again, I have no frigging idea and nor does anyone else, there are literally a thousand variables that could impact the blow-off, no, make that ten thousand, so trying to guess exact timing and magnitude makes zero sense, and again, crude oil as a conflicted trade is in the “too hard” bucket right now, I’m not focused on it, so why waste my time…
Traders are ridiculously enamored with the quest for certainty — the impossible safety blanket of “knowing” what is going to happen. Are you certain the scenario you just laid out will come to pass? How do you KNOW that it’s going to be correct? Can you kindly confirm 100% confidence, so I can completely absolve myself of personal responsibility for the risk I am taking? Hey, something different happened – last week you said X was the probable outcome and it turned out to be wrong! What gives!?!?!
Last Close : 5941
Above is Daily Chart of Nifty Future.
Yesterday as expected above 5913 level it zoomed to kiss our Laxman Rekha of 5941 & made high of 5963 & exactly closed at 5941.
We had Mentioned Two things Yes except Fools ,Idiots ,Jokers ,Born Blinds…Everybody else had read )
Watch Triangle of 141 points :Breakout Point was 5905+ 141 = 6046 level.
We are writing from last One Week :Three Consecutive close above 5941 +Weekly close will take to 6069——–6112 level very soon !!
Already SGX at 5971 (Up 31 points )
Today ,We see Hurdle at 5986————-6022 level. (If everything goes right )
Triangle Break out Target already told u at 6046 level.
Support will be given by 3DEMA at 5889 ,7DEMA at 5856 level.
Yesterday ,We Recommended to Buy 6000 ,6100 Call-Buy and Buy 5800 Put too and will see What happens ?
More Details ,Intraday levels to our Subscribers during trading hrs.
Updated at 8:10/12th July/Baroda/India