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Maybe too much a trader's mentality took over. The moment support held the reason to stay short became less convincing. Price is moving sideways now and it might turn into a TR. This lack of clarity is reason enough to just sit out. I can imagine others who also are betting on either long or...

Q's couldn't crack 82.5 so it wouldn't be too unwise to ease up on those shorts before the end of the day. Gringo

Q's broke the DL and price was unable to make new high. In fact price turned south from there. I would consider this a sign of weakness. The hourly gave the short signal a few hours ago, and the daily might just catch up. The main thing is that price hasn't been able to make upward...

Oh Db. Why put salt on old wounds. Those days of my knowing all the shapes price could take, but not knowing the behaviour of price itself. Those days when buying at the support provided by the moving average was considered wise. Those days when shorting a double top in an up trending market...

Someone asked me why this stock (FIO) wasn't doing well. I hadn't even heard of it, so I opened the chart and looked at the price. The weekly tells it all. Notice the trend. Do we need to know more about financial statements after this? Price on daily is jagged. It's not clear enough or...

Good enough for today Db. Good work there. Gringo

Don't worry about it. I miss these kinds of moves as well. What's important is to learn from it. What Db pointed out today needs to be printed and put on a clay tablet. This is the difference between reading price and following a mechanical system. The hint was given by price when the break...

What an exciting day. Stick with the straight lines and get in when you see RET after SL/DL break. Gringo

Price wasn't able to continue up after the break of the demand line. There was an attempt by demand but the supply overwhelmed this demand and slammed it back. The sideways drifting of the price was our first signal and now this high volume failure. Price failed to go above the previous swing...

Ok. I see what you mean. I had only eyed it. Drawing the DL makes it an iffy scenario. Ok, Heroic you keep doing what you are doing and disregard what I said. Although the part about the brides still holds. :) Gringo

RET before DL break? I always think DL breaks then RET. Am I losing it again? Gringo

For the purposes of this thread any demand line break is sufficient for an exit. If you have the stomach to handle it then a wiggle room can be given if price just jumps back above the DL. If the thought of a DL break is causing trepidation then press that abort button and regain your...

Heroic, Your sketches are wonderful. Despite the entry in the third sketch looking better, and being better, I still would go for the entry in the first sketch. You are avoiding the first entry because you fear the second scenario to come into play, and scare you out of your position for a...

Difference between a retracement and a test. I think you answered it today in your blog. Gringo

We have a break in demand line around potential resistance. The price drop hasn't been server so far. What's important to note is the difficulty with which price was rising the past few days. The volume has been muted recently, indicating a lack of intense participation on part of both the...

I have updated the stock price with a preliminary trend channel that is downward sloping. It might not be that important, but having it here provides another perspective. As for price, if it manages to go back up into the trading range would imply a shakeout. Now, price so far hasn't gotten...

A few times my friends ask me questions about stocks and this will make it easier for me to post it all in one place. Stocks seem to generate more enthusiasm then indexes for the mainstream crowd. Gringo

I am in agreement with what you have said. The overbought condition is simply a gauge to stay alert and not a buy or sell signal. The trend has been up and yes, going long has a higher probability of success than going short in these markets. The only position taken is going to be at least on...

TSLA seems to be heading below the support. I am not trading any stocks so this is more for my keeping my analysis sharp and also for some fun. Gringo

Niko, The point I was trying to make was that you don't specifically need to become a master of hinges. The same straight line method with price again failing at around 80 where it had failed before alerted to the possibility of short. Now I am not saying I figured it out in real time. I...