Some areas I like in order to take some trend trades i.e. pullbacks to confluenced areas on the H4 or daily timeframe in order to get into the current trend @ a discount. I like to use confluence of a H4 od daily PPZ together with 50 or 61 fibs rounded to the nearest round nubmer i.e. 50 or 00.
Have to be careful with correlation on these as they are mostly against the USD or JPY so should move in the same direction depending on the movement of the dow etc. These trades are on the assumption that the dow will reach new lows after a pullback i.e. that we are still in a downtrend and that this move down in the equity markets is not just a 'correction' , thus I'd prefer to just trade what my charts tell me and not try and second guess something that I have no way of forseeing.
AU - 0.8500
UC - 1.0450
CJ - 86.00
EU - 1.2500
GU - 1.4850
Have to be careful with correlation on these as they are mostly against the USD or JPY so should move in the same direction depending on the movement of the dow etc. These trades are on the assumption that the dow will reach new lows after a pullback i.e. that we are still in a downtrend and that this move down in the equity markets is not just a 'correction' , thus I'd prefer to just trade what my charts tell me and not try and second guess something that I have no way of forseeing.
AU - 0.8500
UC - 1.0450
CJ - 86.00
EU - 1.2500
GU - 1.4850
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