Bride of If You Can Draw A Straight Line

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Quote from niko:

9:34 short 66.75 SL valid
9:40 SL fanned
9:41 SL fanned in
9:46 Long at 64 (SAR)
9:50 Long closed, did not short. I guess the way to go was SAR at 62.75 but I was not ready for that.
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No. There no SAR since the SL was broken. Therefore, the focus switches to a long. You took that and were SO. However, there's no further short unless and until there's a RET after the break of the DL. And there wasn't. So no trades.

Now there's been a break of the latest SL, so the focus becomes a RET for a long.
 
Quote from dbphoenix:

And there it is.
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Thanks for the comments. I took the long at 10:04. I guess this is the kind of scenario when one must take the decision between scratch and not to scratch.

So the thing here is, I can take the long and scratch it as soon as I see that prices are not going where I expected them to go (up) and evaluate the trade, here the new swing low couldn't make it below the previous one, so a reentry is in order. That would have happened at 66.50 and it is still valid. so far.
 
Quote from niko:

Thanks for the comments. I took the long at 10:04. I guess this is the kind of scenario when one must take the decision between scratch and not to scratch.

So the thing here is, I can take the long and scratch it as soon as I see that prices are not going where I expected them to go (up) and evaluate the trade, here the new swing low couldn't make it below the previous one, so a reentry is in order. That would have happened at 66.50 and it is still valid. so far.
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Not here. There is no decision to be made. If the DL is broken, scratch the trade and wait for the next opportunity. If you can't do that, then you won't progress.

Nor is there a re-entry. Swing points are not in play in this thread.
 
Quote from dbphoenix:

Not here. There is no decision to be made. If the DL is broken, scratch the trade and wait for the next opportunity. If you can't do that, then you won't progress.
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ok
 
These halting continuations trap the undisciplined. Note the arc to the low points of the bars. Buyers can't escape and keep getting dragged back into what is essentially a tack to sideways. Just leave it alone until they decide what they want to do.
 
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