$WLD To Be Successful In The Markets, You Have To Think & Act Like The Whales
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This hourly setup of WLD proves that "When the market is directional, the opposite patterns are nothing more than traps."
Here we witnessed a pullback after the price hit the crucial resistance of $3. So a retracement was evident, also long traders pulled out the big chunks in profit. But then see how the price action is behaving, indicating a bear flag pattern. And to be more obvious a retailer will open short from that $2.9-2.75 level. All set and good to go down.
Isn't it?
That's where you have screwed up and your capital is swiped away by those institutions.
Again a retailer ends up losing his hard earned money.
Look, I'm an avid believer of Technical Analysis and without that I don't execute my trades. But the thing is You have to understand the markets, you have to catch that nerve, that sentiment which is pushing things against you.
Institutions understand that and this is how they play with our money. Learn the fundamentals & Technicals, but spend some time in the market. Try to understand the behaviour.
The theory that I mentioned above stays true for a bear market as well. Things will just reverse. So learning is important, but you should be capable enough to feel the heartbeat of the market and think like those big guns.
And bookmark this post so that this may help you up somewhere in your journey.
Also if you're visiting my profile, just below this post you'll witness how I captured this entire move till $3.4 and still holding my position.
That's the conviction I have for my trades.