I don't get why this is a short? seems like you're suggesting shorting on strength, instead of shorting on weakness
Babar
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Hi herman,
Yes indeed, shorting into strength are hard to find setups but i believe this one is a good one. I was waiting for 44.60-44.75 potential top area to be verified by candle formation and velocity to slowing down...i do believe this could be a RSI-SMII or any kind of other oscillator reload to mean 0. this would make level number 2 but i will already be selling at number 1....or on my stoploss just above because any candle closing above this level would decrease the probabilities of this setup below 10-20%, so too risky. This part is important as it makes the whole risk/reward ratio interesting.
This is my strategy but my operation part will guide my entries and exits. gyazo.com/5ce35ca25b42d3dd6cc88279fb41d2f7 First chart above are my signals(yellow and blue) and oscillator (red) i go short every time oscillator is positive and take profits every time i goes negative/ i will hold if i find that levels/targets were not met and market will give another try soon. As you can see with the second chart below which is price of AAL it allos you to be on the good side of the trade.
The last details would be RSI coming below 60, that would be my confirmation. but i never wait on confirmation to enter a trade. If i have enough proof like candles, fibo extensions, divrgence with RSI and benchmark comparison (USOIL) its good enough for me
Hope i answered your question, cheers!!
HermanBrummer
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ye, ty, complicated system still trying to wrap my noggin around it. Will a look at it again