MO, in this long term chart, where price is crashing like the dollar a week after 911, can I go long?
Yes, yes you can, yes you can!
All that you need is a 2+ day extreme and for price to close over 'something' on a small chart and you are legitimately long.
But ask yourself where you would place a stop if you were trading just the long term chart & you will notice that your stop is at a high extreme because bodies are closing lower.
Now this creates a problem because you bought and you are still going to add (because that is what you do) but you cannot hold UNLESS the large chart conforms:
a) key-reversal
b) breakout + failure to close lower
c) higher low + breakout + failure to close lower
d) close higher than something
e) close higher + wickdoll
you get the picture.
There is nothing wrong with taking a gamble that the large chart will conform, just don't expect to be able to hold for hundreds of pips without a long term 'something'
Honestly, I have no idea what my fingers are going to do when they touch the keyboard...i just go along with it.
Understand the basic idea and then let your mind run with it.