{"id":245,"date":"2019-11-17T21:15:26","date_gmt":"2019-11-17T20:15:26","guid":{"rendered":"http:\/\/market-and-us.com\/blog\/?p=245"},"modified":"2019-11-17T21:15:27","modified_gmt":"2019-11-17T20:15:27","slug":"do-not-believe-anyone","status":"publish","type":"post","link":"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/","title":{"rendered":"Do not believe anyone!"},"content":{"rendered":"\n

When you are reading articles about the stock market and also about other themes, please: Do not believe anyone!<\/strong><\/p>\n\n\n\n

For almost every field it’s important to doubt statements<\/strong> and to think about alternatives. Everyone can be wrong<\/strong>. Even scientific laws. And you will find out that you also should not believe all of my articles \ud83d\ude00 (of course, at some points you can learn a lot by adapting a professional. If you found a good mentor it’s good to copy her or him without any doubt at first<\/em>).<\/p>\n\n\n\n

Believe in price action<\/h2>\n\n\n\n
\"\"
SPY<\/strong> (daily candles, source: thinkorswim)<\/figcaption><\/figure>\n\n\n\n

I expected the breakout<\/a> with two days of bullish movement<\/a> and I was right. But I didn’t expect the bullish movement<\/strong> without any reversals yet. On Friday SPY did broke through the resistance level of $310 I mentioned last week<\/a>. And it’s a bullish green candle with its close almost at the high.<\/p>\n\n\n\n

Do not believe me. \ud83d\ude09 I am trying not to predict<\/strong> anything and to write only about what price action is telling us. I am always honest<\/strong> and you will only read sentences I thought about several times before writing them. But it’s difficult. Trading is about probabilities<\/strong> and some say that the market is always doing the opposite of what traders are expecting:
In our example that would mean that SPY will go up as long as we are cautious expecting a move downwards and when we are confident to trade bullish the reversal will happen<\/span>.<\/p>\n\n\n\n

And so, it is more likely that we will see one or two bullish candles<\/strong> the following week. Then we have to pay attention on reversal patterns<\/strong>.<\/p>\n\n\n\n

Let’s watch the charts and see what will happen …<\/p>\n\n\n\n

One breakout and one reversal<\/h2>\n\n\n\n

This week I only took two new trades<\/strong> and no position was stopped out. I told you already that I changed my style and I just trade the best setups<\/strong> and patterns (in my opinion)<\/em>.<\/p>\n\n\n\n

\"\"
JBLU<\/strong> (daily candles, source: thinkorswim)<\/figcaption><\/figure>\n\n\n\n

In the above image you can watch the chart of JBLU<\/strong>. I traded the breakout<\/strong>. Price slowed down at the counter trend line but then built a little wedge at the breakout level and broke out.
Yes, it’s a good momentum<\/strong>, but price is also little stretched<\/strong>. The wedge and the last candles created a consolidation, so it’s more likely to collect the power for a strong breakout than to reverse down again.<\/p>\n\n\n\n

\"\"
ETSY<\/strong> (daily candles, source: thinkorswim) <\/figcaption><\/figure>\n\n\n\n

You should watch the weekly chart for ETSY<\/strong> (Etsy, Inc.<\/a>, the marketplace for creative products<\/em>) in addition to the daily. Then you will recognize that the entry level has a high probability to become a low for the next weeks<\/strong>:
It’s a strong resistance<\/strong> over a long time and it’s the 50% Fibonacci level<\/strong> of the big picture. Price fell down fast and I didn’t wait for a confirmation and bought it above the high of the lowest green candle.<\/p>\n\n\n\n

Now it looks like a re-test and maybe ETSY<\/strong> will build a double bottom next week. But you know: I won’t predict anything! \ud83d\ude42<\/p>\n\n\n\n

Not to write too many unnecessary words, I wish you a wonderful week, many lessons for becoming a better trader, good profits<\/span> and always a smile on your face<\/span>!
Remember to subscribe the newsletter to make me happy<\/span>. \ud83d\ude09<\/p>\n","protected":false},"excerpt":{"rendered":"

When you are reading articles about the stock market and also about other themes, please: Do not believe anyone! For almost every field it’s important to doubt statements and to think about alternatives. Everyone can be wrong. Even scientific laws. And you will find out that you also should not believe all of my articles […]<\/p>\n","protected":false},"author":1,"featured_media":252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":""},"categories":[5],"tags":[63,65,61,62,8,64,9,29,34],"yoast_head":"\nDo not believe anyone! - The Market and Us<\/title>\n<meta name=\"description\" content=\"Isn't it crazy that I write articles about stocks for you giving you the advice "Do not believe anyone!"? In this weekly summary you'll read why.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Do not believe anyone! - The Market and Us\" \/>\n<meta property=\"og:description\" content=\"Isn't it crazy that I write articles about stocks for you giving you the advice "Do not believe anyone!"? In this weekly summary you'll read why.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/\" \/>\n<meta property=\"og:site_name\" content=\"The Market and Us\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-17T20:15:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-17T20:15:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/market-and-us.com\/blog\/wp-content\/uploads\/2019\/11\/do-not-believe-and-enter.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1489\" \/>\n\t<meta property=\"og:image:height\" content=\"838\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"3 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/market-and-us.com\/blog\/#website\",\"url\":\"https:\/\/market-and-us.com\/blog\/\",\"name\":\"The Market and Us\",\"description\":\"Weekly Analysis of the Stock Market, Financial Coding and Online-Tools\",\"publisher\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/#\/schema\/person\/f32a93c5a88a9ec9a9595fff6179b097\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/market-and-us.com\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/market-and-us.com\/blog\/wp-content\/uploads\/2019\/11\/do-not-believe-and-enter.jpg\",\"contentUrl\":\"https:\/\/market-and-us.com\/blog\/wp-content\/uploads\/2019\/11\/do-not-believe-and-enter.jpg\",\"width\":1489,\"height\":838,\"caption\":\"The weekly summary about prediction and probability.\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#webpage\",\"url\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/\",\"name\":\"Do not believe anyone! - The Market and Us\",\"isPartOf\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#primaryimage\"},\"datePublished\":\"2019-11-17T20:15:26+00:00\",\"dateModified\":\"2019-11-17T20:15:27+00:00\",\"description\":\"Isn't it crazy that I write articles about stocks for you giving you the advice \\\"Do not believe anyone!\\\"? In this weekly summary you'll read why.\",\"breadcrumb\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/market-and-us.com\/blog\/\",\"url\":\"https:\/\/market-and-us.com\/blog\/\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"position\":2,\"item\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#webpage\"}}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#webpage\"},\"author\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/#\/schema\/person\/f32a93c5a88a9ec9a9595fff6179b097\"},\"headline\":\"Do not believe anyone!\",\"datePublished\":\"2019-11-17T20:15:26+00:00\",\"dateModified\":\"2019-11-17T20:15:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#webpage\"},\"commentCount\":3,\"publisher\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/#\/schema\/person\/f32a93c5a88a9ec9a9595fff6179b097\"},\"image\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#primaryimage\"},\"keywords\":[\"breakout\",\"do not believe\",\"ETSY\",\"JBLU\",\"market\",\"reversal\",\"SPY\",\"stock\",\"weekly summary\"],\"articleSection\":[\"Weekly Summary\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/market-and-us.com\/blog\/do-not-believe-anyone-245\/#respond\"]}]},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\/\/market-and-us.com\/blog\/#\/schema\/person\/f32a93c5a88a9ec9a9595fff6179b097\",\"name\":\"Alexander\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/market-and-us.com\/blog\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"http:\/\/market-and-us.com\/blog\/wp-content\/uploads\/2019\/10\/redakteur-96x96.png\",\"contentUrl\":\"http:\/\/market-and-us.com\/blog\/wp-content\/uploads\/2019\/10\/redakteur-96x96.png\",\"caption\":\"Alexander\"},\"logo\":{\"@id\":\"https:\/\/market-and-us.com\/blog\/#personlogo\"},\"description\":\"Alexander bought his first stock in October 2009 without knowing about the luck for this point of time. In 2016 he started to trade, since 2017 he notes down watchlists and statistics every day and because he knows how to code since he was a child, he uses Python, PHP, HTML5 and JS for making the daily to-dos easier. Because many of his friends wanted him not to stop writing about the markets he started this blog to share his ideas and tools.\",\"sameAs\":[\"https:\/\/market-and-us.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yasr_visitor_votes":{"number_of_votes":0,"sum_votes":0,"stars_attributes":{"read_only":false,"span_bottom":false}},"_links":{"self":[{"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/posts\/245"}],"collection":[{"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/comments?post=245"}],"version-history":[{"count":2,"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/posts\/245\/revisions"}],"predecessor-version":[{"id":251,"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/posts\/245\/revisions\/251"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/media\/252"}],"wp:attachment":[{"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/media?parent=245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/categories?post=245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/market-and-us.com\/blog\/wp-json\/wp\/v2\/tags?post=245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}