Current price actions seems to indicate a possible short-term recovery on the STI. Historical price actions have always been indicative of what possible future market movements will be, though not definitive, it still have a statistical basis of a forecast. True or not, is still highly dependent on your strategy of entry; some use fundamentals, some use technicals, some use both.
What I presumed:
- Market is on a short-term recovery before it extends longer
- Current drawdown is only at 39% as written here
What am I going to do:
- Nothing and just wait
My rationale behind waiting is that, either side of the coin (you catch the bottom or you buy where market successfully recover), you will still win. The only difference is win big or small, but I know either way I won’t lose my sleep.
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