I've seen a lot of people saying "reversal na sa MCP."
And depending on a trader's perspective, this could be true or false.
It may be a reversal on the very short term, but what about
the long term?
Technically speaking, if we want to have a bullish reversal on
MCP, R2 and R1 levels on the chart above must be taken out first.
And overall trends don't always shift overnight.
I'm not bashing. I'm just tired of the people messaging me their sad
stories of how they've lost their hard earned money for believing
Remember FNI? The ulols have been calling a reversal on it since
the 2.xx levels. Halos lahat na ng hype analysis, ginamit.
Fundamentals, All kinds of technical patterns, Candlestick analysis,
Broker analysis, Kwentong Barbero Analysis,
"Reverse Chart" etc.
Where is it now?
And when the damage has been done, they'll just give you that
"you pressed that button" BS and hand you all the blame.
If the teacher taught something wrong,
should the student shoulder all the blame?
It's amazing how gurung ulols have successfully brainwashed the
public so they'd come out clean after several disaster calls.
So if you're just starting out as a trader and planning to buy MCP
because of all the "reversal" posts you're reading in FB groups.
Your city of dreams might end up in the hut of nightmares.