Must have been that sleep thing. Things were a bit Fuzzy. I should have checked when you mentioned it. I knew you were a smart guy. For someone without years of experience, you have a very good methodology.
I was focus on the faster timeframes and missed the fact that the trading bias on the slower "bigger picture' timeframes had change. It's a good thing I have several methods to ring a warning when things are not working out as expected. Better late than never!
Last edited by rcopadilla; 04-18-2012 at 05:46 AM.
Reason: More comment
Some Pos D showing up on the faster charts since they are oversold.
But the slower charts are not. Eventually, the faster charts will get out of their oversold conditions enough for the bearishness of the slower charts to kick in again.
The 4Hour timeframe is one of the slower trading timeframes. Note that the core technicals have turned downward while not even achieving normal overbought conditions. That is a sign of weakness. There is always a possibility that this deviation from the norm is a fakeout, but being on a slower timeframe, odds do not favor that possibility.
Does this mean you are ignoring my projection for the monthly pivot at 1.3240 as a C wave move coming out of an expanded flat having met retracement targets from the move up from 1.2994?
Only playing - we got to have competing views somewhere or there would not be a market place to trade.
Good luck everyone on their respective positions, but more to me who wants an up now, cause I am bored with this icecream on a bonnet sludge down hill.
its looking pretty bearish right now I have not gotten any indication on smaller tf of a turn around. What do you have on tap for the day?
I got My wave 9-11 count downhill since the B wave top (if it was a top there), and my MACD's are compressed enough to keep me from being shy. Just waiting for a confirmation play to go long. Probably no need to do anything more exciting than wait for daily pivot to be popped.
Last edited by Clivewaverider; 04-18-2012 at 06:25 AM.
Good trading is finding the balance between working your plan based on good data AND
making the necessary adjustments because sometimes not all information is in the plan's data.
We will all be wrong at times. The trick is to make an adjustment to get back on track and avoid tunnel vision. Sometimes the plan is correct but the timing is wrong.
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Originally Posted by rcopadilla
I missed seeing the Neg D or I would have went bear sooner.
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