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

dbphoenix · Oct 13, 2013

Quote from niko:

The first retracement.

Yep. And what does he do if and when he sees one?

Gringo · Oct 13, 2013

Quote from dbphoenix:

We're past the answer to that question, but this isn't the answer anyway. Price is falling. Why would you look for a higher high?

I'll be looking for when the halt in drop comes or whether it's accelerating.

Gringo · Oct 13, 2013

Quote from dbphoenix:

Yep. And what does he do if and when he sees one?

Re-enter if already out. Get alert for exiting if still in.

niko · Oct 13, 2013

Quote from dbphoenix:

Yep. And what does he do if and when he sees one?

Here is where it gets tricky for me, if i am still above 50% and the trade is still open, i will do nothing, but if i am out of the market i guess i should short.

dbphoenix · Oct 13, 2013

Quote from Gringo:

Re-enter if already out. Get alert for exiting if still in.

Actually, if he were out, he'd be looking to go short, which is where the retracement comes in.

Gringo · Oct 13, 2013

Quote from dbphoenix:

Actually, if he were out, he'd be looking to go short, which is where the retracement comes in.

I assumed the price had to fail first to confirm that it was a retracement. By fail I mean supply re-asserting itself while price was on the way up. Without that failure price could very well go straight up to new high.

What is a retracement? It's the rise in price that followed the DL break and price drop?

It's getting interesting isn't it

dbphoenix · Oct 13, 2013

Quote from Gringo:

What is a retracement? It's the rise in price that followed the DL break and price drop?

Yes. It's retracing whatever direction it happened to be in at the time.

niko · Oct 13, 2013

Quote from Gringo:

What is a retracement? It's the rise in price that followed the DL break and price drop?

It's getting interesting isn't it

G, are you talking in general or refering to the movement in friday, specificaly the move from 10:14 to 10:16?

And yes is getting extra interesting.

Gringo · Oct 13, 2013

Quote from niko:

G, are you talking in general or refering to the movement in friday, specificaly the move from 10:14 to 10:16?

And yes is getting extra interesting.

Talking in general. I'm attempting to answer Db's questions starting from the DL break.

pokito · Oct 14, 2013

How would you trade NQ this evening..??
Assuming you were not holding a position over weekend of course..

Buy - 19.08e bar
Add to position - 21.32e bar

Sell all - 22.18e
Go flat here, may be even initiate a small short position..??