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

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Quote from dbphoenix:

Why?



I was gone by 1220. But if you were still trading, why would you go short then?
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Well iam not at my desk anymore but if i remember correctly

1.st you could bracket the hinge at the 50% Mark
And as it broke out to the Top u just have to
Manage your Long

2nd. Price topped and made succeeding LHs
Indicating no interrest in going any higher
For the time beeing ,(path of least Resistance)
therefore Short
 
Quote from dbphoenix:

I was gone by 1220. But if you were still trading, why would you go short then?
More...

I see this as a triangle breakout (first entry) with decent airspace to the next level in line to be tested.
 
Here is some prep...

10r8dw0.jpg
 
Quote from MadeMan:

Well iam not at my desk anymore but if i remember correctly

1.st you could bracket the hinge at the 50% Mark
And as it broke out to the Top u just have to
Manage your Long

2nd. Price topped and made succeeding LHs
Indicating no interrest in going any higher
For the time beeing ,(path of least Resistance)
therefore Short
More...

This doesn't appear to follow what I posted at the beginning of the thread. But if it works for you . . .
 
So I took the #1,2, and 3 trades.
..and a few in between #'s 2 and 3 that failed. I quit trading for awhile then, it was just moving to fast for me. Volatility.

I suspect db stayed in #3 much longer than I did, because it did not retrace more than 50%? Or one might have gone short after I exited the #3 trade, and then looked for a long again after hitting the O/N low around 11:10 EST.

I exited #3 at the O/N 50% because I was tired and losing focus.

The proposed #4 trade... is a dog didn't bark?
 
While I welcome the participation, I'll point out, again, that the purpose of this exercise is to encourage those who are interested to apply the principles of this approach as written, in the first five posts of the thread.

No one has to trade according to what was posted on the first page, but that is after all the point of the thread. If anyone was able to rack up more than 100 ticks today between 0914 and 1220, then by all means start your own thread in which you explain in detail exactly what your plan is and how you implement it. I'd love to see it.

In the meantime . . .
 
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