The bears are bent on pushing the shares price on
Tri-Star Resources (LSE:TSTR) further southwards. Sometimes the simplest truths
are the best. A tree that is too young to support our weight when we lean upon
it cannot kill us if it falls upon us. In this market, the bulls have proven to
be undependable, and therefore, they should be shunned.
The ADX period 14 is above 40 (showing a strong
trend), while the DM- is far above the DM+. This means it is more dependable to
follow the bears here. The MACD (default parameters) has its signal lines and
histogram belwo the zero line. This means a Bearish Confirmation Pattern on the
chart.
Conclusion: The best
thing is to keep on selling on Tri-Star Resources until the price reaches 0.1.
This means victory for patient sellers; and patience also for permabulls, who
may be willing to sell only when a Bullish Confirmation Pattern occurs in the
market. Waiting is hard. So impatient is a common trait in trading.
This forecast is ended with the quote below:
“As a
trend-follower you typically have more losing trades than winning ones, but as
long as you are disciplined in executing the time honoured strategy of cutting
losers and running winners, your average win will outweigh your average loss
and make you profitable overall. So I now look at losing trades as being part
of a winning system.” – Jon Boorman (Source:
www.tradersonline-mag.com)
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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