GREY:FNKLF - Post by User
Comment by
nickeltraderon Aug 31, 2009 4:20am
308 Views
Post# 16263197
RE: Extremely bullish trend
RE: Extremely bullish trendYou said:
"The resistance line that forms the big symmetrical triangle is invalid..."
Based on what evidence? Looks pretty compelling to me. Regardless, it will be shown to be correct or false in the very near future as we approach the apex.
You said:
" one must consider the unexpected human emotion factor and the money driven factor that can make all technical analysis meaningless"
If you don't have a defined set of rules from which you are basing your decisions, then you are not trading. You're gambling. Quoting things like 'sentiment' and 'rising river' are meaningless. Every up cycle has losers. A mine that is not even open for operations does not benifet from sentiment.
I'm not putting a lid on share price, I'm making an educated guess based on facts in evidence. Without some expectation of return, one cannot rationaly calculate a position size. Making up price expectations based on intangibles will certainly lead to ruin in the long run. There may be a home run or two along the way, but the end result will always be the same - ruin.