Sacrophage wrote:So, here we are in this cone - I want to be long, as my idea is to TP around 154. As I watch it go up (not long), I talk myself out of entering, saying, let's see a drop to the bottom of the cone, and go long on the bounce. I can also see a bounce down off of the top of the cone as a nice short... and here comes the indecision. So, I'm doing nothing, in accordance with advice from Ja and Mighty, for 90% of the time, or until it looks more natural.
I would be happy to sell price down for you and collect another 100 or 200 more pips. And if I see something I would gladly go long but just to 153.50 at first then maybe up to 155. If not I'll continue what I have been doing since the yearly extreme and selling this sucker lower and lower. 146 looks like a nice place to target.
5 min chart shows simple close over close under trade away from a daily extreme. 1hr chart shows my possible long term idea or possible area to break for a short