Hot Features
Premium
Level up your trading with our powerful tools and real-time insights all in one place.
It is expected that the shares of Motive Television (LSE:MTV) would continue going upwards, following an overextended bearish run in the market. There is now a valid bullish bias on the chart.
One should not short this market any longer: an ounce of restraint can frequently prevent a pound of regret. On the chart the ADX period 14 is above the level 40 (showing a strong bullish bias), while the DM+ is far above the DM-. The MACD histogram and signal lines are above the zero level. This is a Bullish Confirmation Pattern. The shares are still very cheap, and the outlook is bright. This market is ready to have huge gains in years to come. Most traders go long when prices are overbought or go short when prices are oversold. The common speculator is confident of further rallies in very expensive markets and confident of further pullbacks in very cheap markets – something that explains the speculator’s avarice in an overextended northward journey and dread in an overextended southward journey. Common sense would make one open long positions after the price has gone down too far, and found some bottom. Sadly, this is contrary to what most speculators prefer.
This article is ended with the quote below:
“I learned that just because I put on a trade, it did not have to work. I learned to accept the risk when I put on a trade. I learned that anything can happen and always needed to play the defense when trading.” – Andrew Abraham
