Posts by "daveo"

The point I make is you are not fading by selling a lower high, or better still, a lower low on smaller timeframe. You may say I am cheating but the whole point is to minimise losses if you get your timing wrong. I personally only do this if the 1hr or daily timeframe has entered one of my wave count zones and we see an apparent reversal. I am not going to wait for the blurry monthly stochastic to confirm etc etc.

Q, if you want to fade an uptrend just drop down to say 5 min timeframe and look for a lower fractal (pivot) high. As price drops from that lower high you enter with stop a tick above the pivot high. Then you study the pattern forming and make your trade decisions for TP's and managing the trade, lowering your stop to b/e as soon as feasible, trailing your stop to new fractal highs forming to lock in profit.

Once in a while you will catch a good move but if your bias was wrong you need to be stopped quickly for small loss. Once the trade is well underway you look back at the higher timeframe for perspective.

That is "strong up" on price but internals incredibly weak.

EWA is dynamic as pattern confirms or otherwise, tis why I avoid fading--well most of the time :-)

called H&S, did he indeed. A bit late in the day for that if you are referring to the AU.