How low can she go?
The double bottom test seems inevitable at this point, so the key evidently is what happens then?
Markets are easy to see in hindsight, but “in the moment” are much harder, as we are dealing with our emotions. The market has been ugly lately, and everyone is saying “buy and hold is dead”.
Can’t disagree with that; much easier to go with the flow, whether long or short.
The ferocious plunge the past seven days has left some traders breathless; don’t get caught near the lows if we test the bottom. V bounces are equally ferocious and will skin you alive if you overstay your welcome.
Why? Profit taking is usually in order, and then the market says “now what?”
Best to answer that question from the sidelines.
Feel the pace, feel the pulse, feel the tempo.
You can do this, and enjoy huge rewards from being a professional trader.