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

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Short initiated in trading range? With 60 as the lower part of trading range. Was the fact that price couldn't reach the top of trading range as a sign of possible weakness? I am talking dailies.

The reason for of exiting it is understandable but the entry itself is unclear.

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Gringo
 

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This is quite a fascinating learning experience. I am interested in seeing what kind of price movement will occur when traders finally make a decision one way or another to exit the range.
 
Quote from niko:

Just a procedure question, what are we supposed to discuss in this thread?
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This thread is just an extension of the original, which got to be too long. So anything that was discussed there is fair game, if it was on-topic to begin with.

Think of it as the sophomore class.
 
Quote from dbphoenix:

Day before yesterday was the first retracement after the break of the demand line.
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I see. The NH to 3400 created the new DL and from there onwards the first RET came yesterday.

Gringo
 
Quote from Gringo:

I see. The NH to 3400 created the new DL and from there onwards the first RET came yesterday.

Gringo
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Correct. I'm not exactly chomping at the bit to go short. Clearly traders aren't interested in that. If there's no plunge, I'm content to do nothing.
 
Quote from niko:

I can only see a TR, any alternative view around there?
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Not from me. Until we exit this range, I won't be making any long-term commitments. There's always daytrading the range, but they're not all going to be as clean as yesterday.

Speaking of which, I suppose I should reiterate what I've said many times that the best trades are found at the extremes. Yesterday we opened at the high and plunged. Simple. Easy. Now we're sitting in the middle of the range. Also simple. But not so easy.
 
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