Bride of If You Can Draw A Straight Line

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Quote from niko:

My exit would have been at 77.5. I am still having "bar" issues, so 9:48 did not count as a RET for me as it made a LL :( , so I really took the short at 9:52 at 73.75. I am also working on spotting this RETs that I usually miss.

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 of SL took place. The fact that 68 was rejected violently missed your attention. Nothing major. This doesn't happen as often but is a wonderful example of paying attention to price behaviour and realizing that the rest of the lines are there only a guide.

Even after missing the long, there was this short. There was more than one chance to go short and those who did still made 10-12 points within minutes. How many can do that with only using lines as their guide?

Gringo
 
Quote from niko:

My exit would have been at 77.5. I am still having "bar" issues, so 9:48 did not count as a RET for me as it made a LL :( , so I really took the short at 9:52 at 73.75. I am also working on spotting this RETs that I usually miss.

If you started your supply line at 0830, you can see the opening effort to break through as a failure and the next move up as another attempt after regrouping. In a general sense, that's a retracement.
 
Quote from dbphoenix:

Why long now?

Rejection at 60 and SL broken, is this not the same thing that happened at 9:39?

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Quote from niko:

Rejection at 60 and SL broken, is this not the same thing that happened at 9:39?

Not quite. Since price made a lower low, the supply line can be fanned. Therefore it's not yet broken when you take your long. Plus you had a trend channel as a factor at the open, which I don't wnat to get into here, but you know what a trend channel is.
 
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