Using Bullish % Indicators For Timing Indicators
tkathlinastocks's Blog
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These 3 charts look at the % of stocks that are in bullish technical patterns based on point and figure charts.
We expect the range to hover between 45-65 or 50-70. Readings at 80 as we are currently, should be used by technical traders as a caution sign to move up trade stops if your long, and not to take new long positions.
To stay in this game long term, you have to know when to hold them, know when to fold them. Sometimes you will sell too early as we did back in December. You can't force a trade by jumping back on the band wagon as a turn the other way can come fast and furious.
As a professional, you have to learn to wait for the market to get you back in the game. This will cause some missed profits, but even more missed loses.
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