Son of If You Can Draw a Straight Line . . .

[dbphoenix]

Quote from niko:

9:38 Starting to look like chop, no LL
9:40 Yep hinge like chop

Don't anticipate. You bounced off the mp of the tr, retraced, made a higher low providing an entry at 54.75. It's not chop unless you have a series of overlapping bars. If it doesn't make a higher high, then you have chop and you're out. But that comes later.

 

[niko]

Quote from dbphoenix:

Don't anticipate. You bounced off the mp of the tr, retraced, made a higher low providing an entry at 54.75. It's not chop unless you have a series of overlapping bars.

Thank you. I actually saw the MP and considered it, perhaps the fact that I was thinking short at 54 made me lose focus here. Will leave experiments for replay



9:45 Finally an entry 59.75, lets see, perhaps I am late to the party.
9:49 DL fanned.

 

[dbphoenix]

Quote from niko:

Thank you.

9:45 Finally an entry 59.75, lets see, perhaps I am late to the party.
9:49 DL fanned

I've said this before, but if one enters after he should have, he can, if he can stand it, determine his potential exit according not to where he entered but where he should have entered. If he can't stand it, just exit as usual.

 

[niko]

Quote from dbphoenix:

I've said this before, but if one enters after he should have, he can, if he can stand it, determine his potential exit according not to where he entered but where he should have entered. If he can't stand it, just exit as usual.

You are just getting ahead of me, as always. I was going to post something in this regard. Given that the market does what it has to do, the logic thing here is to hold the long at "54.75" even if one entered at 59.75.

9:54 DL in trouble.
:56 DL fanned lots of volume for 9:56 BC????

 

[dbphoenix]

There's no R up here. Price will rise until sellers run out of buyers.

 

[niko]

10:00 DL Broken.

 

[dbphoenix]

Quote from niko:

10:00 DL Broken.

Which is to be expected.

Poss short op at 63.

 

[Gringo]

1003: LSL holding so far. So be cautious with short.
1004: small TR? or some rest before continuation up? We await the verdict.

 

[niko]

Quote from dbphoenix:

Which is to be expected.

Poss short op at 63.

10:03 Had the entry at 62.75 but withdrew it I am giving the buyers a chance here. SL broken.

 

[dbphoenix]

Quote from Gringo:

1003: LSL holding so far. So be cautious with short.

There are two options: either buyers rush in to take price to a new high or sellers lower their prices in order to make trades.