Bride of If You Can Draw A Straight Line

[niko]

Quote from niko:

One hour before the market opens and I see lots of congestion around us, coming from multiple TRs that have formed in the context of the current TC (hourly).

For now my main levels of interest are 58 and 51, lets see what happens when price reaches either one of those levels.

Half an hour to the open and 58 held just fine.

 

[dbphoenix]

Slipping below the halfway levels of both the downmove on the 9th and the downmove beginning Friday nite.

 

[niko]

51 also held, with a nice line break and it following RET, if one took it around 2.25 the trade is still valid.

9:37 Very steep DL here.
9:39 SAR at 7.75

 

[niko]

I forgot to post that my first order of business this year is to learn how to scratch

 

[dbphoenix]

Quote from niko:

I forgot to post that my first order of business this year is to learn how to scrap.

I think you mean "scratch".

 

[niko]

Quote from dbphoenix:

I think you mean "scratch".

Hehehe, yep, sorry for the typo.

 

[dbphoenix]

There are two halfway levels here, both within a point of 55, which has been confirmed by the opening range. I suggest you just sit back and relax.

 

[niko]

It was starting to look choppy.

 

[niko]

So far we were unable to break above 61 or below 50, so we wait.

9:59 And hinge it is
10:03 Hinge BO but 61 is still problematic.

 

[dbphoenix]

Watch how traders behave. This will tell you whether or not the levels you've chosen are important.