We are entering into not only the toughest volatility month of September, but also uncertainty of Syria air strike,Beige Book(9/4), non-farm payroll(9/6), Fed taper decision(9/18), quadruple witching day(9/20),debating of debt ceiling limit (9/30), most likely sentiment will be down trend, possible knocking bear market door.
As I dare declared "August 2nd is the market top" on previous note is still valid to my book. Daily price is below 8, 16, 24 MA and weekly price is below 8 MA and MACD and Stoch RSI is continuously pointing down.
In this highly volatile time, #1 RULE is not to lose . Cut, limit lot size. Once profited in the 1st tier out of 3 tiers, automatic stop loss move down to break even, the remaining tiers run by trailing stop is the key to daily profit. With this macro view of downtrend in mind, patiently wait until peak of 5 min chart, then short, short, short only when long term is down trending, like synchronous surfing tide and wave. However, price is still on the bullish zone on the 100 MA, above 200 MA. So be careful, tighten sea belt.
As I dare declared "August 2nd is the market top" on previous note is still valid to my book. Daily price is below 8, 16, 24 MA and weekly price is below 8 MA and MACD and Stoch RSI is continuously pointing down.
In this highly volatile time, #1 RULE is not to lose . Cut, limit lot size. Once profited in the 1st tier out of 3 tiers, automatic stop loss move down to break even, the remaining tiers run by trailing stop is the key to daily profit. With this macro view of downtrend in mind, patiently wait until peak of 5 min chart, then short, short, short only when long term is down trending, like synchronous surfing tide and wave. However, price is still on the bullish zone on the 100 MA, above 200 MA. So be careful, tighten sea belt.