Short Term Trading Member Forum

[pmiles]

doubleTake

I agree with you. My view is from a pragmatic trading point of view and sums up thus:

We have no confirmation of any kind that the market has turned down - no left translated highs, no overshoots to the downside on FLD targets.

We have confirmtions that the market is still trending up - new highs and Right Translated highs.

Therefore we have no reason to go short other than the estimation that a 4.5 year low is due soon.

Since we have no confirmation of that estimate we cannot trade on it. all we can do is be somewhat wary of our "longs" and use tight stops if we take them.