20110408 FCPO futures cose 3399...

1 min FCPO, with the inverted H&S, neckline break at 3339, retest and rally into the close. in the morning I pointed out the inv h&s to a fellow trader,, who just dismissed it with "but te daily chart shows the market is a sell, going to go down". I think the trader was fighting the market the whole day trying to short.... A case of trade what you see, not what you feel.

"Every partial truth contains a dangerous lie"

It is good to keep this adage in mind when it comes to all things related to trading. Whatever you hear or read about eg fundamental data, cargo surveyor, export figures, expert analysts opinions, your fellow trader views etc, treat them all as partial truths, and all of which contains lies tha can potentially hurt one's p&l in trading, be it missed opportunities,catastrophic losses from being at the wrong end of a trend etc. Then we can approach trading by looking through rose coloured glasses.

When they say fundamentals, demand and supply will work out in the long run, just remember Lord Keynes once said, "In the long run,we are all dead"