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How to trade this?
Both of those were at all time or at least 5 year highs...so it's hard to base your entry off of previous support/resistance levels when they do not exist. Personally if I want to fade something at an all time high I just close my eyes and sell it into an uptick. Then if it looks like I was wrong I cut losses and bail....I'll pick my loss before or very soon after my entry and just watch the level 2 feed and play it that way.
Learning how to play off of the level 2 information can really help in those or any situation.
Net/Net more money is probably made from selling trading ideas than the trades themselves make.
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."
Lao Tzu
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