If You Can Draw A Straight Line . . .

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Quote from timokrates:

Midpoint of overnight trading range?
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Yep. And before that, it found resistance at the close and during the evening at that level. After that, it created a trading range 1pt either side, a "value area". Since that area represented value then, one can anticipate, not predict, that it will represent value again. No way of knowing why. It just is what it is. And if it doesn't, there's no trade, at least at that level.

Incidentally, if 68 represents a "level of trust", there was a retracement entry 3m after the open that would most likely have been filled. This would not have been visible to the 5m people.
 
This seems to have broken out. I am posting the monthly chart to show the bigger picture.

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Is it a fake or real BO. That's the fun part about hinges.

Gringo
 

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Quote from timokrates:

After missing the best entry near the demand line of the hinge at around 76 I took the retracement entry at 79. The "level of trust" I marked there was broken and the potential target of a move was the midpoint at around 91.
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And we reach 91 after all.

If you exited the trade like you were supposed to and didn't re-enter after the bounce off 68, don't feel bad. You traded well. Just remember to put all of this in your journal because there were some valuable lessons here, and I can promise you that they'll be repeated.
 
Quote from PTVtrader:

How's this? Maybe a "M" Day?
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Not clear on how you're defining "midpoint". The relevant preceding midpoint would be 3100+/-, as noted earlier this morning.
 
Quote from dbphoenix:

And we reach 91 after all.

If you exited the trade like you were supposed to and didn't re-enter after the bounce off 68, don't feel bad. You traded well. Just remember to put all of this in your journal because there were some valuable lessons here, and I can promise you that they'll be repeated.
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Thanks, yes. I'm taking lots of screenshots and have my book at hand all the time. Still it's all pretty unorganized, but I start to implement a review routine now...

It's breaking the hinge - and maybe tests 3100 again now...
 
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