I have an intraday double top on the YM, right on schedule... I have a TA short bias for the very near term as well.... no break to the downside yet but...
A rather ominous choice of words, using shorts and "nut-cuttin time" in reference to your plan of action. Good luck, hombre. I know I wouldn't be short at this very moment, but who's to say what will happen later today.
good luck full speed ahead down the hatch! one day there will be a sell off and that day could be today.
You seem to be implying that it's easier to see two bars ahead than it is to see longer term. I think it's exactly the opposite. It can be predicted with a fair amount of certainty that the market will be higher 20 years from now, but what happens in the next 5 minutes is just noise.
Says the guy who predicted a terrorist attack the other day that never happened and predicted a crash at a specific time today that never happened.
Not exactly. I can't predict either one. Further, Rennick was not referring to 20 years, he was referring to end of day. I couldn't predict end of day if my life depended on it. Neither can most mortals. However, I can react to a predefined setup in the very short term and define my estimated risk in the context of that short term. Then I wait and see what happens, and then I react some more. And how are you positioning yourself at this very moment to maximize your leverage safely with your 20-year time frame?