It did drop out of that smaller time frame upwards , It could still drop, but the retrace was 120 points above the breakout price of that . If it would be really weak, the retrace would be much less,about 14.200. I have seen this kind of set ups before, showing some signs, but still go up.
The 13.900/14.000 did not hold, the bearish flag i talked about the previous update got completed. The H&S that was already forming also got completed! I thought the H&S would fail this time to push it higher, but the market was to weak. I had more than 200 points profit, but i expected more. now it's forming a bullish H&S with a target of 14.300. I will wait for it to break out of the red resistance area, and i will wait for it to pull back again before i go long!
Again a small loss, after being ahead 200+ points again. It just does not want to go up it seems!
Ofcourse i would like returns of 1000% in 2 days, or 5000% in a week. But that's not realistic. You know what the biggest problem is, it's just like the casino, when you have tasted the big wins, you get used to it and you wont be able to live without it. So 99% of the people who have been winning the last year, will loose everything again, maybe not this month or this year, but they will. I have paid my dues during the Internet hype 20 years ago. I am just trying to make a few good trades every month, nothing more nothing less.
A few weeks ago all the amateurs around me who just started, were all happy and amazed, the last week they are all complaining.