Hi edskh78,

Yes, u r right on, it is a psychological mind game they r playing with the unknowledgeable.

Dun mind my asking r u new to trading.

If u r newbie to trading, below is my advice, whether to listen or not is up to u.

To succeed in trading, my sincere n genuine advice to newbies:

"Learn to master TA n u are the master of your own trades." - Learn how to spot reversal signs in candlestick charts for entry n exit

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork, u need to learn the tools of the trade"

Depending on your inclinations and whether u seriously want to learn TA, I had created 3 threads dedicated to newbies under "General", "Trading Techniques":

1. "Learning TA" - websites where u can learn TA for free but of course, TA is not infallible, thus need to set stop-loss)

2. "Some recommended good Trading and TA books" - of course u can also buy TA books.
    Read as many TA books and money management books, it will definitely stand u in good stead.

3. "Advices to newbies" particular the 3 golden mantras.

Take your time to read and learn, dun rush, remember "Rome was not built in one day"
 
U can download the free charting software from www.chartnexus.com (no need to get the paid version, all these can be self-learn,dun waste your money, instead self-learn the skills n use tat money to trade. I rather save the money to trade and multiply it).

I self-learnt, see how analysts do it and practice by covering up the candles and test my knowledge and hone my skills till I m quite confident b4 start trading bcos the mkt is merciless. 

Those TA courses, wat they teach, all are from books, nothing new.

For those paid software,even after the software scan, still need our analysis, cannot assume it is 100% correct, as nothing can replace the human brain and knowledge as analysis is an art of how individual interpret, no matter how much they input all the scientific knowledge into the software

If u are not sure, post your charts n hopefully some forumers good in TA will exchange pointers with u.

To know how to post, search the forum for "tinypic.com"

Yes, imo, good for u as the mid to long term trend is still up.

The trend is only not your friend if u r affected emotionally by the day to day price fluctuations or contra or short-term player.