You play it from short side ? Seems to me we might see some short squeeze today as almost "everybody" is convinced of a slowdown of U.S. economy.
ImO, considering how charts look (1-4 hour) I would be skeptical to play it long, if we were to hit a very important support zone, then price should have put in either a hammer or a solid engulfing bar on say 4 hour chart, also histogram just doesn't look bullish on any of the frames that would indicate a dip. I mean a dip it might be, I am just not ready to lay it out, unless I see something worthwhile. Assuming the above I would also assume that other savvy traders are not willing to buy right now, it's upto big players to hold support and I do not see it happening. It's either bounces strongly and I miss initial move up OR there HAS to be a build up on 1-4 hour chart, which I don't see. So again assuming all above is logical I would rather play it from short side for now. Also 20 average slope on 1 & 2 hour charts is just way too radical even for me
Price always oscilates, that is nothing to wonder about. My main view is that price either really really bounces OR there has to be some sort of basing period, Jeez, just look at 20 average slopes on 1,2,3,4 hour charts, you can easily arrange another ski slalom there
For those who might be interested in some research : ASSESSING RISKS TO GLOBAL FINANCIAL STABILITY ( a publication by the International Monetary Fund ) http://www.imf.org/external/pubs/ft/gfsr/2007/02/pdf/chap1.pdf