I compiled these charts before I saw Tony's offering. But it's well worth mentioning the fact that if any of you guy's are using oscillators to assist in guaging entry/profit-takes/exits etc, then this type of price action can help you to filter out the false (oscillator) signals.
When prices are moving quite aggressively in one particular direction, use the ebbs & flows to hone down your entries in tandem with your favorite price aid.
Doesn't matter whether it's Stochasitcs, RSI, CCI etc. If price is falling thru these peak-trough steps, then you really only want to be looking out for stochs etc as they print an overbought signal & leg in short with whatever price trigger you utilize. Ignore the "long" signals being highlighted via the oscillator.
It'll save you a whole lot of pain & lost pips.
Anyhow, here's the confluence timeframes (240..60 & 15m) focusing this mini bid zone down here on the Cable, where we can exapct a little turbulance.
No need for the shorts to panic or start rushing for the exits quite yet if you're already positioned.
Just watch & obey the natural flow of the peak-trough behaviour & only fully exit when the price action tells you it's found sufficient demand & printed another temporary? bottom. The first signs of that momentum shift will be the printing of higher lows & highs on this smaller (15m) timeframe reference down here.
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