The Trouble With Scribbles

Didn't mean to trade them, just that there was a likelihood of a bounce.--I'm on a higher timeframe as you know.

 

For me, I would only use this type of signal for profit taking while trend is down. Now if the 60 had turned as well----

 

---and we've got a bounce.

 

The one on the hourly in histogram I do like, could see a bounce to 2090

 

Could be possible. Doesn't totally agree with the cash chart. I am monitoring the cash chart in conjunction with the futures--the 5 and the 15 certainly provided a bounce yesterday. There were no scribble trades so not certain what they are doing.

 

I am more inclined to take short positions on bounces until the trend changes back to up. But I am on the daily time frame with an eye on the 60 minute as the lowest chart I might trade.

 

LOL

 

Romik, did you see the sell signal on the 5 and 15?

 

Currently yes on 5 and not on 15.

 

If you look at the cash chart, it doesn't necessarily match. Cash rules futures