I have received a couple of private messages on this, so I am posting a chart. Still am short, the reason, 1D MACD is down, 4H MACD is down. Typically this far in we should see S38 on the pivots hit Friday and if something crazy hits then will see S61. S61 will be a good spot for reversal if it plunges through S38. At least a retrace from S61 to S38 anyhow. Remember we are in a downtrend. I am taking the 4H trend, and trading the rally's on the 30M and 1H charts. Example, trend is down on 4H, wait for lower time frame MACD to cross up so I can reload and enter short each time. Keep it simple. Remember, if you use the daily for trend, you need to be looking at 1 entry and exit for the week on the 4H. If you use the 4H as your trend and trade the 30M/1H, you will have more entries and exits thus capturing a lot more pips. Lastly, I do not go against the trend unless I am using a draw down strategy for more advanced trading(Can bite you in the butt if you are not careful, very experienced, and confident). 1st chart is 4H, 2nd chart is 30M.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
3