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

[Huyang]

Quote from niko:

Assuming the risk is a point, the entry would have been at 11.50 so the fearful would be out at the upmove at 11:36


Huyang:

long at 11.50? if long, then why get out at 12.5 at 11:36?
if short at 11.50, why short at 11.50? because the rule is to short 1ps lower than some bar low if i understand correctly. 11.5 is not 1ps below any bar low nearby. thanks a lot.

DB:
There is no "rule". Go back to the beginning of today's entries and start again.


DB:
I read the beginning. No rule for sure. I think you were talking about short around 10:32 for 11.5 as shown in the chart by red arrow.

Because market moves in waves, small waves in large waves. For a beginner like me will the following be better?
to ignore those small waves (dashed lines) but focus on large waves (solid lines) so that we donot in and our so frequently. Thank you.



Niko:
there maybe a typo in your post dated at 8:31am. You seemed to be talking about the long before 10:30 and exit the long around 10:36, and DB was talking the short entry at 10:32. But again, i could be wrong. thank you.

 

[niko]

Quote from dbphoenix:

There are no reversals. Whatever one might see as a reversal is defined by price action against S/D lines. Entries are found in retracements.

I will read again the whole thread during the weekend, there is something missing and I don't want to bother you anymore in what I assume is nice friday afternoon in NM.

 

[niko]

Quote from Huyang:

Niko:
there maybe a typo in your post dated at 8:31am. You seemed to be talking about the long before 10:30 and exit the long around 10:36, and DB was talking the short entry at 10:32. But again, i could be wrong. thank you. [/B]

Huyang,

I was talking about the short, it was exited because of the 1 point risk I mentioned, now I know better, but back then.... Not so much.

 

[dbphoenix]

Quote from Huyang:

DB:
I read the beginning. No rule for sure. I think you were talking about short around 10:32 for 11.5 as shown in the chart by red arrow.

Because market moves in waves, small waves in large waves. For a beginner like me will the following be better?
to ignore those small waves (dashed lines) but focus on large waves (solid lines) so that we donot in and our so frequently. Thank you.

There is no 50%. There are no "waves". There are only S/D lines and retracements. If you don't know how to draw these lines, go back to the beginning of today's posts and start again.

 

[Huyang]

Quote from dbphoenix:

There is no 50%. There are no "waves". There are only S/D lines and retracements. If you don't know how to draw these lines, go back to the beginning of today's posts and start again.

DB:

Thank you very much for your time. Very helpful discussions and sharing.

Wish all a great weekend!

 

[Gringo]

Quote from dbphoenix:

There is no 50%. There are no "waves". There are only S/D lines and retracements. If you don't know how to draw these lines, go back to the beginning of today's posts and start again.

Db,

You're officially a minimalist.

Gringo

 

[bmwhendrix]

Just doing my evening homework and noticed that today's two
good long trades had the same type origin.

A hinge that broke to the upside and tested the midpoint.

Maybe I should only play hinges!

 

[dbphoenix]

Quote from bmwhendrix:

Just doing my evening homework and noticed that today's two
good long trades had the same type origin.

A hinge that broke to the upside and tested the midpoint.

Maybe I should only play hinges!

Unfortunately, the hinge can't be drawn until after 1115, which is a long wait for something that may never occur. Which is why hinges are no longer considered with this approach. Just supply/demand lines and retracements.

 

[DaGabaGoo]

Quote from dbphoenix:

That is incorrect. Since the demand line has been broken, the fearful will be out. If they then want to continue, they'll draw a supply line tracing the move down. No short will be taken because there is no retracement in this downmove.

At 1013, this line will be broken and a new demand line can be drawn to trace the progress of buyers to the upside, but there's no retracement for a long here either.

At 1016, this line is also broken, and the fearful look to draw a supply line tracking the progress of sellers. So far, no trades, just tracking.

What then?

db - Thanks for that great statement.

According to this threads method, is a short at around 13:47 valid? If so, where should the stop be placed? At 3227.75 or above 13:08 bar at 3230.25?

 

[dbphoenix]

Quote from DaGabaGoo:

db - Thanks for that great statement.

According to this threads method, is a short at around 13:47 valid? If so, where should the stop be placed?

No, you'd be long. There is no stop.