Long term trend remains up. Medium term trend is down. Daily trend is down. Right now I am looking shorts. Would be open to a long, but with a small trailing stop. Position could be much larger with the stop small. So in this case a countertrend trade could be very profitable. There was an obvious buy signal on the 5 minute chart Tues afternoon, but I am not trading intraday right now, and so I bypassed.
I don't understand the intraday shorting here. Even though daily trend is down, the intraday trend is up. Wouldn't we be looking for a strong signal to go short here?
It seems to me that we would only enter short if we were to fall below 2046 and this would be on a very short time frame chart. --Maybe grab 6 pts. A little longer time frame chart would not have a shorting unless we fell below 2030. --maybe grab 18 pts or more
from johnny_utah Had almost 2 pt open profit on 2 separate shorts and ended up booking only +3 ticks on both . Oh well, at least I ended up green.
from satchel Yah was wondering if you were gonna do a 3 point scalp. Was just a pause. This should high fly for another 22 minutes. euro trade is meh, tested 1.18. If it stays under I cut it tonight. otherwise meh