Bride of If You Can Draw A Straight Line
- Thread starter dbphoenix
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well, well, the drill worked just fine within the range, the line was broken around 10:44 and the entry activated at 10:55, did not take it, but watched. If one is in and did not exit at the bottom of the range around 61 then good luck, for now I am done for the day.
A little rusty from all the vacation.
I will post some comments and questions in a couple of minutes.
A little rusty from all the vacation.
I will post some comments and questions in a couple of minutes.
Here is the analysis for the day, still having trouble with exits, and as I said my first priority is to understand how this scratch business works. After that I will work on trade management of good trades.
1. Just before the open the line was broken and a RET allowed a long.
2. DL was broken and a RET called for a short, this one tested my determination and brought some thoughts:
-Should I have scratched and reentered, or was holding a 2 points adverse excursion a good idea. Will have to focus on this.
-Was the entry at all a good idea (taking into account the fact that 55 was surrounded by S, given the 50% levels present, as DB stated). Things to consider in the future.
3. The downtrend turned into a hinge and then the upside BO of the hinge came. As I am not that fond of Hinge BO i prefer to wait for the extreme (61 in this case) to be taken out before taking any action. That happened at 10:03 hence the long entry at 10:06.
4. This uptrend was short lived, as the DL was rapidly broken, then came the RET and the entry, but there was S at 61 and the short was no longer valid after the line was broken.
From that point on it was just chop.
5. This short was not taken, but noted on the thread, anyway sellers failed to break below S at 61 and by the time of this post we are still within the TR (61-66)
1. Just before the open the line was broken and a RET allowed a long.
2. DL was broken and a RET called for a short, this one tested my determination and brought some thoughts:
-Should I have scratched and reentered, or was holding a 2 points adverse excursion a good idea. Will have to focus on this.
-Was the entry at all a good idea (taking into account the fact that 55 was surrounded by S, given the 50% levels present, as DB stated). Things to consider in the future.
3. The downtrend turned into a hinge and then the upside BO of the hinge came. As I am not that fond of Hinge BO i prefer to wait for the extreme (61 in this case) to be taken out before taking any action. That happened at 10:03 hence the long entry at 10:06.
4. This uptrend was short lived, as the DL was rapidly broken, then came the RET and the entry, but there was S at 61 and the short was no longer valid after the line was broken.
From that point on it was just chop.
5. This short was not taken, but noted on the thread, anyway sellers failed to break below S at 61 and by the time of this post we are still within the TR (61-66)
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