Anything is possible, Heavy. When I'm faced with a situation like this though, what I do is fall back and size up the situation like this...
I'm currently short on AU expecting a nice pullback before any further bullish activity. But price action might be suggesting a move higher. So the main question is this...
Would I close out my shorts on AU and go long right here, expecting a move up?
So I try to imagine myself closing out the shorts or not even having short trades on the books at all and opening long positions where AU is now or in the general area at or above 0.74.
And the answer I keep getting is... No way would I go long in this area.
Me, myself, and I have discussions like this all the time...of course, the 3 of us disagree but that's just my split personality getting the better of me...LOL!
But since I seriously wouldn't even consider going long here, I have to follow the larger trend and stay short for now, even if I have to add again later.
