DislikedYes, you are correct, there is an opposite scenario that I of course have at the moment, but, and I repeat there is a big BUT, in order for that to happen there has to be a major fundamental shift in the markets and the entire world economy, and that scenario at this point is beyond unlikelly, beyond....
Everything right now to me is noise, pure and simple noise, The shift on the 1st that I was waiting for since the last low on 3/17 happened, price wize and time wize, untill it is invalidated I will stick to it period. There are some other minor possibilities of the last high being exceeded, as I had stated earlier but that has to happen for me to switch to neutral view first or turn even more bearish at a later point. I have the next day in advance allready, so will watch and see. Judging by the recent price action and a very important announcements that are about to happen I treat this as buy the rumor sell the fact type of rally, nothing more, nothing less, you might think that the current dollar rally looks impressive, but it is nothing more than a correction, a classic continuation bear flag pattern. Here is a freebie, hey Clouds, you there?! watch what happens on the 9th once the price alligns it self with time, if the price will reach 74.40-50 on that day, that's approximatelly 70 pips up from current levels on the dollar index, watch out below.... I wouldn't want to be long any USD at that point.
LOL, sure outcome, anything sure in this life are death and taxes, moving on to the current situation I would say that presently some key levels would have to be invalidated on a daily closing bases, some major shifts would have to occur, and if that does happen I will change my view and switch my positions. I rarelly trade intraday the way most here are in FF. I built my positions similar to institutionals and then once the move is confirmed I may add to it more, on the intraday basis and start to liqudate according to time schedule and some extreme price levels.Ignored
Measure twice, cut once