Im short too.
- #7,082
- May 22, 2008 5:36pm May 22, 2008 5:36pm
I hope it IS bearish and we fall again tonight, like last night.
But, there is NO divergence on the 4H yet.
The Rapid RSI is NOT into Oversold on the 4H yet.
Just have to wait and see..... I'm short again though... so Down UJ Down.
- #7,083
- May 22, 2008 5:38pm May 22, 2008 5:38pm
me too, but it looks a little bullish right now ... no choice but to wait and ride it out ....
- #7,090
- May 22, 2008 6:15pm May 22, 2008 6:15pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
I trade off the 4H.
I use the Daily for trend.
I use 1/2 positions when going against the trend and full positions going with it.
I use Divergence to exit and enter with great success.
I use the ZL MACD for 4H divergences.
Last night, the 4H candle at 01:00gmt closed at 102.75.
It was a lower low, but higher low on the MACD.
EXIT and go long.......
Right on the money..... it turned around.
Then, use the Gann HiLo for confirmation that trend will continue up/down.
Great way to 'pick' the Top or Bottom of a run.
But, remember, the Fundies can affect the Technicals with this pair.
If Long, as long as AC is Green, including the bar that just closed, I place my stop at the 3rd lowest low down. If AC turns to red, then I use the 2nd lowest low (including the bar that just closed).
Also, if I am long and a candle closes in red, I leave my S/L where it is and do not adjust it again until I get a close Higher than either the last highest high of the current trade or at least a close above the last closed green bar.
Then I go back to the AC. This has the ability to keep me in trades for months.....All I was lacking was recognition on when to enter and am working on that.
"Keep your eyes on the helpers" - Mr. Rogers
- #7,094
- May 22, 2008 6:38pm May 22, 2008 6:38pm
Set Shorts on the push up. Now at 104.15. Time to get short!!
Heading north to 104.5 maybe 104.7 not likely to be any higher, but still a slight, small... possibility...
Well that's the way I see it.
Good luck.
Ron
- #7,097
- May 22, 2008 7:15pm May 22, 2008 7:15pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
If you take a look at Williams % on D1 you can see a bullish divergence has formed.
Also, price action from last week on W1 was long and last month, price action on M1 was long.
Combine the W1 and M1 price action with the Williams % divergence and cross of the 1st level line, technicals are telling me this is going to go up.
FWIW....
Also, price action from last week on W1 was long and last month, price action on M1 was long.
Combine the W1 and M1 price action with the Williams % divergence and cross of the 1st level line, technicals are telling me this is going to go up.
FWIW....
"Keep your eyes on the helpers" - Mr. Rogers
