There’s a lot of noise out there in the markets. You’re going to hear a lot of different stories about a lot of different things that are “behind the wheel” of where the market is headed.
Today, I’m gonna cut through all that and tell you the one thing that actually matters. And honestly, it’s the core of my entire trading philosophy.
My Ultimate Price Tester: Fibonacci
If you finish this newsletter and you’re wondering how I determine where price is headed, I’ve got great news:
You can grab all my classes on Fibonacci right now for a special low price. Check out the bundle here
This is one of the most important truths you can learn in my opinion.
The #1 rule you should never forget when you’re trading…
Price is the ultimate truth in the market.
Not news. Not sentiment. Not fundamentals. PRICE.
Why does that matter so much?
Because it’s so counterintuitive to 99.9% of all the trading talk you hear out there.
The folks on CNBC aren’t talking about “price” as the ultimate truth.
They’re telling you about some new innovation in the market, or speaking to a company’s CEO to try and pump up the stock.
They’re spinning narratives about where the stock will head, rather than looking at the price levels and using technical analysis to decide the next move.
That’s all good to a point. But it doesn’t last.
We saw a perfect example of this on Thursday.
The news of Russia invading Ukraine absolutely tanked the market, and I’m sure some folks were certain it was the kickoff for a new long-term bear market.
In fact, I don’t have to wonder if people were panicking. I heard from a lot of folks first-hand.
But I had predicted the day before that we were about to reach the bottom of the SPY downturn.
And sure enough, the pullback only lasted about an hour, and all the markets started climbing back higher!
Now, how could I have known that?
Can I see the future? Was Russia not really that big a deal?
Of course not!
But I know price. And the Fibonacci levels were able to predict how price would react, even in the face of insane headlines.
Just a prime example of how price is the ultimate truth.
So next time you think you need to panic about a sudden shift in the market, remember that the headlines aren’t actually at the wheel.
That should give you the breathing room you need to clear your head and make smarter decisions about how to proceed.
Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.
0 Response to "Russia quietly loosening on Bitcoin?"
Post a Comment