This is a follow up to my CME short chart which was a mistake in the first place. I explained on the chart how a failed divergence was a bullish signal. The mistake was entirely mine, and all the signals were there.
Here is the weekly chart which was bullish at the time I took the short trade
Comments
ZaloRostam
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Can I go long now or I should wait bit more as it might fall some more to around 76? Thanks for sharing
vlad.adrian
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I would neither go long or short, because I see no trade here.
TradeVulture
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Zoom out or go to the weekly. You can see why we popped to test highs that were left untested, and then drop on first test. The weekly shows major accumulation since 09. Have to understand how shorter TFs effect bigger TFs. Time-shifting and compartmentalization my friend.