I'm not really waiting for anything, as I firmly believe that we are in a long-term uptrend. I was foolish to try shorts in the middle of an uptrend because I still applied the old tactics while the focus has already been on the Rainbow Moving Averages. Moreover, I was too passive to jump in at the recent pullback, although it clearly shows a textbook bounce at the RMA. Yes, the best risk to reward is offered at turnarounds, but I doubt there will be any. The most we can achieve is by hawking the next pullback for a long entry with a stop at a low-risk low.
I sign on every afternoon (EST) whenever I remember to. Drop me a line, and I'll connect, or at least reply if I can't.
ok we definitely have some weakness here. ES is around 1375 and 1350. And it looks like we are going down. So what about you. what do you wait for? dont you think its time to hook on short?
The status quo is as such: We are in a range and a resolution will be a great entry opportunity for the next trend (or momentum play). Anyone already positioned, or holding off until a decision is presented by the market?
Bomb...its good to see you're still around. I'm looking at 1335 (CASH) as resistance, if we break out of the range you outlined. I'm keeping my eye on how it acts when we get there.