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If by garbage you mean price is stuck within OR, you are correct. How about short on failed A up? That's as much confirmation as one will get. Next question is about size of trade? Start small and add as train picks up speed.
When and how that will happen, we do not know. That's why one should trade multiple instruements , watch cricket, listen to music etc.
" Will wait for more direction."
You must be thinking about where to put stop loss. Otherwise direction is pretty clear. ONLY thing we do not know how much the move will be. Are they buying or selling?
Just started trading TF this week. No shorts for me today in TF, with the strength in the YM and ES. Amazing the intraday divergences between TF and the rest of the indices of late.
Also, here is a podcast from Michael Covel interviewing Leo Melamed. Leo invented finanical futures at the CME. Not a bad history lesson.....hopefully the link works.
Finally got NG. Lightened up in CL and loaded up in NG. Long , Long hold time. Took some off in NG. NG down 2% on the day, it's enough. No longs in either.
Ready to set personal record for hold time. took some off and added to short into bounce around 1043 for Soyabeans. All these instruements just get stuck in some area and then BOOM as it just did in Soybeans and party got busy.
All we have to do go to Finviz , pick up weakest dog, short it and hold. This way we never wrong with direction. The move may just not come at a time we want as NG has done to me many, many times.
CL been a dud. I have been shorting every time it gets around 93.40, will cover some around 93.12 and instead of going down , it will come back up. Still holding shorts but reduced size. Overall a dud.
TF been a champ and it can go all the way. GC short- once again turned out to be a scalp. Both trades after Fed. minutes at 2 pm eastern time.