some triple touches work, some don't.
You won't know until
a) they touch
b) you connect with market action. GDX failed a few days ago - but its plunge to the bottom corresponded exactly with a plunge in the indices. When the indices bounced, GDX bottomed as well and went on to make a huge move 3 days later. (GDX outperformed on the big rally day.)
These set ups often take time to form and time to push out and extend. I need to take more positions and hold... as long as the market is doing okay -- hold on. And wait for the touches. The best entries are markets that are holding up well during corrective times.
No comments:
Post a Comment