World Stock Markets Today: Negative Start, Rangebound Week

12 October, 2021 (8:43 am IST)

11 October, 2021 (11:13 pm EDT)

Sorry trader friends. I was busy earning 6-figure money within a week, which made me forget even stock markets 😊

I hope we all will earn that kind of money this week from stock markets. Or from forex markets. Both these markets have been very volatile last week and have given BIG trends to day traders for taking home gold pots.

And thanks for visiting this site so much, even when nothing was being writing. I just wish all of you will also earn 6-figure profits in a week with your hard work.

Stock markets come into that category of hard work.

Here you have to control your impulses, emotions, sometimes logic, and be patient like a mountain. Just sit and watch how the markets trades, what range it is trading in, which direction it is going,  support or resistance-which level is dominating markets, then you open a trade—- and markets change all these criteria and your trade becomes wrong!

You have to control you impulses again, of kicking the market’s butt and keep trading against it.

You have to be as faithful a butler of markets as Alfred was to Bruce Wayne.

Today, the second day of this trading week, world stock markets are trading highly negative.

All major Asian stock markets are down.

SGX Nifty is 80 points down.

US stock futures are also negative with considerable margins.

All this because US stock markets closed negative in their overnight session.

Despite that, US stock markets are rangebound within a positive trend.

How’s so?

Check the monthly charts of Dow Jones. The index is making a positive candlestick that is rising from the monthly support. Now check the weekly chart of this mega index. It is making 4 very similar up and down candlesticks alternating between positive and negative trends. The candlesticks are so strictly similar except for the trend, that these look like window-bars.

That makes it a technical, rangebound trend and day traders can easily trend in any direction; from support to resistance (up) or resistance to support (down).

Check the weekly support and resistance levels of your local index and trade within those levels. Simple!

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