Replies to post #25184 on Cycle Trading

[Duma]

Yes I am starting to go really simple. TA's are actually somewhat slow to respond.

I have long learned to be fast to go long and slower to exit. Therefore I really like 1st resistance to enter and 2nd support to exit. Faster entries make for smaller stops and the occasional whipsaw.

Aug 19th exit was spot on. Next step is to start getting into the shorting a bit more.

[Duma]

In the same scheme of things, because of where we are in the market, I am starting to make my daily very simple also. For now I am just trading trend lines.

The daily exit was also Aug 19th, same as 60min. Aug26th gave me a great high to draw my initial go-long trend line.

Note how slow M65 is rolling over, while at the same time M12 is close to dipping into mark down (MD) and CCI into -100 territory. Both not good short term.

Yday we closed right at the 50% re-test point to the Jun low. We are well on our way to that low. IMHO if we break that low, then then I think all the argument that this is just a correction is gone. It is going to get ugly.