This is a high risk entry with a tight stop. Despite the recent panic we never came back into the red UMH frequency on the downtrending Andrew's Pitchfork. We are still trading over it. On a 3D basis we are above resistance still. We've just been sliding down the frequency waiting for something to happen. Yesterday could have been the higher low and today might be the follow through.
I should wait for a little more confirmation because long has been generally bad lately BUT I have ventured a long here because it seems like risk is on the short side, most people are panicking now which usually leads to opportunity on the opposite side. And if we are really outside the Red fork frequency and new flow could develop that would lead to large gains. If we fall back into the red fork though, we are in trouble.
I should wait for a little more confirmation because long has been generally bad lately BUT I have ventured a long here because it seems like risk is on the short side, most people are panicking now which usually leads to opportunity on the opposite side. And if we are really outside the Red fork frequency and new flow could develop that would lead to large gains. If we fall back into the red fork though, we are in trouble.