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

[dbphoenix]

Quote from dbphoenix:
If trading multiple contracts take one off when it failed at the last swing low and look for a retracement to get long but do not thin k about a short until the 50% line is taken out!

I did not and would not say this!

 

[niko]

Quote from dbphoenix:

OK.

1011: Price drops below last swing low. What does one do now?

Aha, so this is why this was a whole new wave and not just a RET of the previous upwave...

Is my Aha moment a valid one?

 

[Gringo]

Quote from dbphoenix:

I did not and would not say this!

What sorcery is this? Multiple personality syndrome?

 

[dbphoenix]

Quote from niko:

Aha, so this is why this was a whole new wave and not just a RET of the previous upwave...

Is my Aha moment a valid one?

Depends on where you're seeing retracements.

 

[dbphoenix]

Quote from Gringo:

What sorcery is this? Multiple personality syndrome?

Just sloppy quoting and no proof-reading.

 

[Gringo]

Quote from niko:

Aha, so this is why this was a whole new wave and not just a RET of the previous upwave...

Is my Aha moment a valid one?

I'm getting confused here. Isn't RET when/if price starts rising up from here and not before? Price is at 3210.

 

[slugar]

Quote from Gringo:

What sorcery is this? Multiple personality syndrome? [/QUOTE. It was me sorry not sure how that happened but it was not db

 

[slugar]

Quote from dbphoenix:

I did not and would not say this!

not sure why the dislike but oh well just trying to learn

 

[dbphoenix]

Quote from Gringo:

I'm getting confused here. Isn't RET when/if price starts rising up from here and not before? Price is at 3210.

There are seven retracements from the open to the high, but they don't mean much if one is already long, unless one is scaling in, but that's outside the scope of this exercise.

Back to the last chart . . .

 

[niko]

Quote from dbphoenix:

Depends on where you're seeing retracements.

The chart says what I saw.