Here is a set of circumstances that I happen to like. This is the GDT 60 minute chart. Notice there is a large gap at 56. Gaps fill. Also notice we are very near the major ma's. The two indicators below show divergences relative to price. And there is consolidation.
To satisfy those members that must have a directional forecast, I forecast lower prices based on this chart. However, the ultimate cool thing is... it doesn't matter whether I am right or wrong with my forecast because I will not enter until the price breaks. And that's because I am a big believer in the very fact that another member posted, while complaining about a lack of forecasting, ie., sooner or later, it is going to break. So it makes no difference to me whatsoever whether I am right or wrong about my predictions.
To satisfy those members that must have a directional forecast, I forecast lower prices based on this chart. However, the ultimate cool thing is... it doesn't matter whether I am right or wrong with my forecast because I will not enter until the price breaks. And that's because I am a big believer in the very fact that another member posted, while complaining about a lack of forecasting, ie., sooner or later, it is going to break. So it makes no difference to me whatsoever whether I am right or wrong about my predictions.
