moshpit monday - banging heads and fat fingers, page-59

Hiya B,
That is a bloody good question and one I am trying to figure out, so hopefully a few other heads can respond as well.

At the moment I am trying to test the theory that contracts can be added as counter trends to the main "dominant" trend fail.

I beleive we have started a daily down trend, as of thursday last week, and this is not yet done, so I am working on the beleif that this is the dominant trend for the moment.

According to my charts we have had a 10 minute (or around that timespan) counter trend failure on Friday, so shorts could have been added around the peak of that counter trend, however these should have been closed Monday morning when a second 10 minute counter trend began.

I beleive we ar now trying for an Hourly counter trend and so shorts could be added if/when that fails...

THis concept is still in its infancy though so am just throwing it out there to see if it correlates to others, or makes sense to yourself.

Regarding the "ultimate dominant trend", and apologies for how confusing this may sound... I beleive the dominant trend at the moment is the Weekly up trend. As such, this current daily down trend is counter to the True dominant trend, and following on from what I have said about adding to positions via failures of counter trends, I actually beleive that this daily downtrend is an opportuinty to add to Long positions on the higher timespan... BUT! only when the daily down trend fails...

TRrying to find that point is something I am working on... targets suggest a few more legs yet, but I sure as heck don't have definitive confidence as to where these targets might be.

;)