WELL!! gk Chinese real estate troubles. Been a while coming. This MAY start a roll?
My FTSE short was closed over night. My profit taking stop was hit. Not sure this down run is finished yet. I will add more on this down the post.
My ASX short still lives! Read this! Day high today was 5363.1 My stop 5363.3 !!!I have never been so close to stop and lived. 0.2 on an index.
One rule I work by is that during a trend run (both up and down) the candles generally follow EMA10 line. The candles will often get ahead of the line but generally return and then follow. Recent days ASX, FTSE and others have been ahead on the line. The last day or 2 has seen the candle return back to the EMA10 line. Where to??? Well one of 2 things can happen. The candles touch the EMA10 line and bounce in favour of the trend. In this case down. The candles go through the EMA10 line and go for the 20, 30. This signals a reversal for me. So bounce down off ema10- go short. Go through the lines go long.
I am watching now. "the lion waiting to pounce" mower
