RE: Trade Opportunity Panic Dive SingularDTV (SBGLS)
Hey luc, I have been following you and watching your vids for the past 2 weeks now and thanks so much for all this info. I haven't jumped in yet and its strange... I see you go in the past on these charts and locate bases and suppoprts and dips... But on a live chart it seems very very difficult to identify a legit base and to point out when a dip will occur. Using your strategy i try to draw out what I predict will happen when I see a chart that has a pretty realistic base... i see it break the base and so i draw a arrow going down and try to mimic where it will go and where it will bounce back at.... so far ive been wrong everytime. how?
I look for bases with a strong bounce and I watch for when that base starts to crack... I set up alerts and follow it and it just cracks maybe just a little bit.. right before the projected panic sellers should start selling... and it just heads right back up.
what do you think I can do?
i think the problem is your alerts... you have to set the alert where you might buy.. so draw your base and set your alert for well below it, and then when you get an alert it will be time for action.. The problem you are having is, that most bases hold.. and there is no panic.. but buying into that panic is the safest area.. so you have to wait for the panic..
Let me try to explain it another way.. if you see something drop, you really dont know the story? why is it dropping? who knows.. But when a base gets cracked and then traders panic out, right after a crack, then you do know the story. Its a panic due to a base crack and thats usually an overreaction... so you need that narrative ..
Awesome explanation thank you