Put on your Elder Impulse Goggles (EIG's) See c
Post# of 1023
See chart below
Click link if you cant see image
http://i.imgur.com/M7ZBqHA.png
Notice the two charts. They look similar because they are the same chart for the same time period. The top is a candle chart and the bottom is a Elder Impulse.
Notice March 15th on the top chart. Its red. Now notice the same day, March 15th, on the bottom chart; it's green. Although there is a natural tendency to freak out on 'red days' (and some times it is good to do this), doing basic DD, along with learning how to interpret charts can help. Even though March 15th appeared to be a dramatic red day, it was still considered a bullish day based on the Elder Impulse chart. And even though the following day closed red in the top chart, it closed blue in the bottom chart; indicating a split between the buyers and the sellers.
The Elder Impulse is all about creating your position, making a profit, and hightailing it out of there. One concept which can be read on many online websites is that beginner investors make their position (buy stock) and then stay in too long, hoping to make a 'killing', but end up missing their opportunity to make a profit before the price dropped. Professionals on the other hand (I am not one), make their position, exit fast, take their profits, and do the dance of joy.
From this, I have learned not to be greedy. Do I want to make that illusive 'million dollars' investing? Yes, duh. But I don't have to do it all at once. And with this knowledge, I have set my sell limits to a specific price and if/when the PPS reaches those prices, I will take the profits and run run run all the way to the highest hill in the area and scream at the top of my lungs, "Booyahhhhh!"
This is my investment strategy and is not advice. Do your own DD. Make your own decisions. Buy, sell, and hold according to your rules and not my opinions. This post guarantees no success for spectrascience.
Note:
Has anyone looked at the Elder Impulse chart for the past month? There has been NO red impulse bars since FEBRUARY 19TH!! That is a MONTH AGO! In my opinion, well obviously its my opinion as this is NOT INVESTMENT ADVICE... I believe the chart is about to enter full blown bull mode. I could be wrong, but its ok to be wrong because this is OPINION. Go talk to your investment advisor before you make any investment decision.
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