Ok….so you’ve missed the initial move.
You’ve sat idle, and now worse – tuned in to your local financial news to see “what all the fuss is about”. I can only assume they are telling you to “buy, buy , buy!” and that everything is hunky dory, blah,blah, blah. Please……we know much better than that.
Pull up your charts on pretty much “anything and everything” and zoom in on what’s happened here today. For the most part, nearly every point / buck has been retraced across the board equities wise ( rinsing the entire lot ) while the forex crowd bask in the sunshine of never-ending dollar debasement.
If you want to “get in on the action” you’ll need to be a fairly savvy trader – or at least be willing to take on a bit of risk, on order to take advantage of the continued moves ahead.
Drop down to at least a 1 Hour chart on a pair like USD/CAD for example, and ask yourself – is now the best time to enter? After such a precipitous drop?
Patience young grasshopper.
You now need to apply a bit your “short-term technical know how” in seeing that a larger trend “IS” now clearly established, but that “now” may not be the most opportune time to enter.
Fib retracement levels come to mind – looking at the last move on 1H and considering “how far might this thing retrace” before continuing on its path downward.
A moving average may also provide “some indication” of level where price may normally retrace.
Any way you cut it…..chasing a move almost always results in pain and agony, as “just when you think you’ve got this figured out” – the damn thing shoots off in the opposite direction.
Patience young grasshopper. This “can” be learned. This “will” be learned.
( this “F Kong” thing is being included as to see if I can get the boys at Google to recognize me as a credible author).
My Google profile page can be viewed here at: F Kong at Google+