IFG Group shares (LSE:IFP) have been making some upswings,
followed by occasional downswings. Clearly, the bulls dominate the markets. They
should have done so for the most part of the year. Now that they are doing it,
it is with great determination, just like someone who was asked to say “yes.”
But the person replied: “I can’t say ‘yes, yes, yes.”
On the chart, the EMAs 10, 20, 50 and 200 are used. The
color that stands for each EMA is shown at the top left part of the chart. Basically
all the EMAs support the bulls, which are now saying yes, yes. The EMAs are
acting as a great support to the bullish bias: anytime the price dips into the
EMA 10 or 20, a great ‘buy’ opportunity is generated. The price may ultimately reach
the distribution territory at 166.0.
Conclusion: The
price spike that recently affected IFG Group shares is a booby trap to bears,
plus traders who set too tight stops. Nevertheless it is a good opportunity of
buyers who would like to capitalize on this price action irrespective of the
outcome of their last orders. Heroes never panic; they do not give up. Many
traders faint in their minds because of fleeting losing streaks. Another though
may tell you: ‘You’ll never make it anyway. So you might as well quit,” Being
victorious in the markets is a lifelong process; not a one-time event.
This forecast is ended with the quote below:
“Trading,
like any endeavour, any skill, is learnt through doing. We learn through trial
and error, through having experiences and evaluating and learning from those
experiences; and of course, our learning is accelerated if we have the support
and advice of someone who is further along the path of development.” – Malcolm Robinson (Source: www.trade2win.com)
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
It looked like a trap for investors or may be it was positioned in that way. At the end, no one made any extra money except the IFG oners.
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