Bride of If You Can Draw A Straight Line

[dbphoenix]

And ES in chop.

Notice how one can find S&R as a consequence of drawing these lines. It's not necessary to find S&R in advance.

 

[niko]

Quote from dbphoenix:

NQ still in chop.

Note that there have been no trades after the break of the demand line.

Yep, assumed that the chop was diagonal and took the short at 63.75, already out.

 

[dbphoenix]

Quote from niko:

Yep, assumed that the chop was diagonal and took the short at 63.75 already out.

Chop is lateral.

 

[dbphoenix]

NQ trying to leave chop again.

 

[bmwhendrix]

Historically, whenever I have a killer morning, I tend to get sloppy with trades in the afternoon, and not unlike many others, tend to give much back. It is a trait of a poor trader to want to be in "the game" all the time.

Not trading is a bit contrary to the efforts that generally bring success in other occupations where "keeping at it" leads to reward.

Not trading is a difficult thing to do for some of us, especially slow learners like me.

 

[niko]

Quote from dbphoenix:

Chop is lateral.

Yep.

 

[dbphoenix]

NQ busts out of chop. See how it's behaving?

 

[dbphoenix]

Retracement for a long.

 

[niko]

Out of the chop, I am currently not testing RETs after BOs, but couldn't help to think about an entry at 72.75 at 10:49. My question here is when is it valid to consider the BO as initially the chop upper limit was 72, but after the poke at 10:33 I was not sure if the upper limit was shifted to 73.

 

[niko]

Quote from dbphoenix:

NQ busts out of chop. See how it's behaving?

You mean the indecision just before the break? I noticed that although buyers were rejected at 73 sellers just couldn't make LLs.