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

[dbphoenix]

Quote from niko:

The chart says what I saw.

Then yes.

But what about this one?

 

[niko]

Quote from dbphoenix:

If you get tired, just think of all the money you're making.

It is true that as the trade matures, the number of elements one has to consider may increase. In the chart posted above, for example, price dropped 25%. But it didn't drop below the next swing low. One may already be out, but he has to monitor all this in order to determine when and where to re-enter and/or where to enter a short.

Here, for example, price failed to make a higher high. What does one do with that?

Ok, buyers failed to take prices higher, price is making LLs, SL still holding, so short on this RET.

 

[niko]

Quote from dbphoenix:

Then yes.

But what about this one?

The short did not trigger, SL is gone. Buy the RET.

 

[dbphoenix]

Quote from niko:

The short did not trigger, SL is gone. Buy the RET.

Actually the short did trigger, at 11. But it was then stopped out. So what retracement would you buy?

 

[niko]

Once again, need to move from my current location. Will be back online in an hour. I always have to leave when thigs get extrainteresting.

For those who are shy of participating, please do, this opportunity is pure gold for anyone thinking of becoming a PA trader.

 

[slugar]

Quote from dbphoenix:

Actually the short did trigger, at 11. But it was then stopped out. So what retracement would you buy?

. If price makes a higher high or higher low buy the 1st retracement

 

[niko]

Quote from dbphoenix:

Actually the short did trigger, at 11. But it was then stopped out. So what retracement would you buy?

One last post!

Sorry, I did not mean the short I posted on my chart. But the one that corresponded to the next RET (the last price information available on your last chart) it would have been around 8,25 (cant see the precise point here).

Now the Long, would be around 11 on the first RET after the break of SL.

 

[dbphoenix]

Quote from niko:

Once again, need to move from my current location. Will be back online in an hour. I always have to leave when thigs get extrainteresting.

For those who are shy of participating, please do, this opportunity is pure gold for anyone thinking of becoming a PA trader.

As I said Friday, those who can't answer the questions don't have a thoroughly-tested trading plan, or at least one that focuses on price action. That this is a general state of affairs should now be clear.

This same process applied to Monday and Tuesday and Wednesday and today. It'll apply to tomorrow and to every day thereafter. Those who want to practice can continue with these charts to the end of the day for last Friday. It did reach 30, after all.

 

[dbphoenix]

Quote from niko:

One last post!

Sorry, I did not mean the short I posted on my chart. But the one that corresponded to the next RET (the last price information available on your last chart) it would have been around 8,25 (cant see the precise point here).

Now the Long, would be around 11 on the first RET after the break of SL.

And then . . . ?

 

[DaGabaGoo]

Quote from dbphoenix:

Then yes.

But what about this one?