$ weakening, I guess a retracement is coming... but how deep? So far I don't see any strong reason to be selling the $ and last time I went against the trend (Main & Intermediate) I got screwed sideways. So will wait a will be entering @ SL levels (Sell high). This is the plan but as always, the market will tell me if this is a viable one if not then need to adapt.
Not much going on but $ bear push is still there. No sign yet of slowing down. If this continues then expecting deep retracement = take out positions and wait.
Update: Added positions
Update: Really not looking good. If momentum does not change then I will scale out positions.
Overview:
Waited like for 10 hours for the $ to run yesterday but it was meh. Feels like yesterday was just exchanging of hands between bulls and bears. EU and GU were doing stuff on their own, so even though GU ran towards the direction of my trade, I could not really add the big guns and had to close it early. Overall $ bull BUT......... will wait for confirmation in lower timeframes.
Out! Intermediate trend is still pretty much strong. It can go up more or reverse as it wants but with the loss of momentum, I'll settle with what I have. There will be days of losses, breakeven, little profits and big profits. All part of the grind.
05-21-19
Market Overview:
Overall market $ bull but looking @ the lower timeframe, a good $ bear play.
@15mins TF
EU is in a ranging in a channel and GU is contracting (triangle).
If I am going against the trends (major & intermediate), I will be positioning on the best levels which are the red triangles on the chart. Best place to exchange my long EU & GU with other's buy/sell stop orders.
Checking... Let's see if if there is more push downwards.
Update: Took out GU @ a loss. Waiting for re-entry.
Update: Re-entered GU and added EU.
Update: Added 1 more in GU. GU is so bearish that is why I have to take out earlier positions just in case it will run fast against. Now, we find minor support and waiting if it holds. I will let it play a little and see if this is really the market's intention. Will be adding on retracement (hourly) and maybe on full force in my scaling. We'll see... Market is an excellent trapper.
Update: OUT... Something not feeling right. My imagination???
$index range is narrow while EU is up vs GU down which tells me market is waiting for something. Just observe mode for now until I get the to the flow back.
Reversed position but only trading EU. GU pretty much ran before I came on board. So let's see. Currently ALL in on this one. Felt like a pig for switching.
Sheeeeeeet... My positions were no longer valid for me to manage per my TA, I was in the wrong trend, so I have to scalp my way out to come out from a loss with a little profit. Market will be establishing a new range so might be better to let others test it out for me.
"Mistakes made, money lost & gained... but everyday is a new opportunity"
I will be watching the lower TF for today's initial move, whether it will be a retracement (looking like one) or a continuation of the trend. But overall market trend is still $ bull but on the intermediate there is an obvious accumulation/distribution but which one?