I will post my next comments in the ES thread, since they are more general market in nature and hopefully we can get more dialogue going.... thanks.
I am unable to justify the Aussie short on the daily and weekly charts right now, but the 60 and 240 are suggesting the downside so this is shorter term for now.
How would you deal with this situation? Would you class long grails in RSI/CCI as a reversal ot not? Thanks.
At present we are range bound on the monthly chart with a slightly downward bias. The long grails were fantastic to reverse back in to the trading range. Weekly has a stronger downside look and at the moment that uis driving my decision to stay short. There is a bit of a double peak in RSI at the moment as well,
Hi b1s2, If you are still following this thread, I have a question regarding the CAD. Are you around ?
still here, I just haven't been keeping this journal up. I may begin with it again soon. Go ahead and ask about CD.
This question even though it refers to CAD specifically, could be posed for any other future. I have been looking to short CAD for a while now, waiting for the daily, weekly and monthly to give me the go ahead. Unfortunately I was involved in too many ideas, markets and personal stuff and missed getting in at a good entry. My question is: If I am very bearish in a specific market, but the market has already started to move in the way I had expected, how do you enter the position if the market doesn't seem to want to give you the opportunity and you feel you are missing the train even worse by waiting. Do you wait until price hits the higher BB on the daily ? How about if it just doesn't ? Is there any other mechanism you look at in this scenario ? Thanks a million!!
You need to drop down to the 60 minute or the daily to give you a fresh short signal. If lowly leveraged , it may be ok to just sell but with the understanding that their may be a bit of pain initially. However, if underleveraged, he pain is minimal.