Son of If You Can Draw a Straight Line . . .
- Thread starter dbphoenix
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Quote from niko:
In order to move on to what follows I am going to have to make use of my datafeed, as I have not been able to get friday chart on Investing.com (any help?).
Next moment of decision comes at 10:32 when the DL is pierced, will it go back up or will it reverse direction, a fail to reach or break LSH will be the RET we are expecting. It comes just a minute after so we place a Stop Limit Sell at 11:25. It is triggered, then at 10:40, price makes a LL and the SL is fanned in, the line is broken just a minute later. Here is where exit rules will vary, some will exit here some will wait as LSH still intact.
I have a doubt though, at 10:42 price barely manages to go 1 tick below LSL, I usually think of this more as a DB than a LL, and that changes everything for me, if it is a DB then the SL is not fanned (Fuchsia one) and therefore broken, making me look for a RET which comes right away, if is a LL (Blue one) then the line is fanned out and the movement at 10:44 is just another RET within a downtrend. All opinions are welcomed.
You're doing it again.
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