{quote} the trend is your friend, until it's about to end.. continuing vs reversing - gotta know the odds at various areas, both ways. when the obvious is everywhere - best stay flat and wait for the opposite - either trade IT (short-term reversal), or at least use the correction for entry at a better price, in harmony with the trend. Don't follow price at the extremes of short-term moves. Insti's never sell into a drop or buy into a rally - what you see is the opposite here.
Although, following the trend is best for mid-long term trading (which is what I do), so I do realize some of you intraday longers are doing whats best for you.
playing both sides of the fence so to speak.
.... In my view we are as close to a top in equities as "one" single daily candle. Point is, catching a top (a bottom) at all time highs (lows) is always a no go option for most investors/traders in any market as nobody wants to be the sucker on the highs(lows) so as soon as their is a confirmed micro sell signal in these levels this is a done deal. Is only a matter of a few sessions in my opiniin... On currencies just relative dollar strenght as collareral of the wild ride in equities. On the euro lossing...
