The battle exit line will not deceive you into thinking that you are always going to be right but instead allows you to trust yourself to do what is right!
The battle exit line will not deceive you into thinking that you are always going to be right but instead allows you to trust yourself to do what is right!
There are no secrets in the market so this is not a new phenomenon and I cannot take credit for its “discovery” and neither can any one person in particular. However, let’s look at this statistic in a little more detail (including a slightly different opinion) and find out why this phenomenon exists. Then let’s look at what I believe is the best way to trade using this information.
I recently wrote about the dire predictions for the market as the focus of the financial stations and trading websites turned toward the “bearish head and shoulders” pattern forming on the S&P. This pattern turned out to be a deception and the market took off like a rocket off the 200 TANKS and up past the channel we discussed when we were looking at either a missile launch or bunker building from a recent range. We knew one or the other would take place with great force and energy.
The dictionary defines deception as a trick or the art of deceiving someone. And how do you deceive someone? By hiding the truth behind the facts. There is an art to this. Indeed, trading is an art, an art of deception, like it or not. Does not matter whether you believe it not, it just is.
What looked in early June to be a possible missile launch fizzled out over 10 days as we moved all the way back down to the lower support. My upper resistance line and my lower support line were both tapped within a five day period (please note I drew these lines BEFORE this happened).
Notice that in just the last 6 trading days ICE lost all of the gain from the last 49 trading days (note: the sell-off in this stock started BEFORE the negative news yesterday!). For trend traders following the 21 TANKS as a good trend line support money was made for several months.
CONCLUSION:
Waiting for one pattern to repeat itself over and over again allows THE CROSSHAIRS TRADER to remain focused. Just as a SNIPER must remain focused on the enemy in order to survive, the trader must remain focused on the trading battlefield or there will be no more fighting.
The CROSSHAIRS formula is very simple actually but has taken several years to develop and is a direct result of my need to reign in my emotions and develop my patience, both of which all traders must ultimately deal with in order to become successful.
As before, I would suggest you contact Charles Nenner Research via this CONTACT link. Mention THE CROSSHAIRS TRADER in the MESSAGE SECTION and in the follow up phone call. You could receive a FREE TRIAL of the Charles Nenner Newsletter.
Another contrary report here with mixed numbers. Contrary because the analysts (who are these people and how much are they getting paid?) have it way wrong again! But what really matters to us is the trading environment.
