Son of If You Can Draw a Straight Line . . .
- Thread starter dbphoenix
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I posted this in the bride thread, but as DB correctly mentioned, it has to be adressed here:
After yesterdays trendday the borderlines of the forest might be quite close together. But who knows...
Yesterdays low was already tested, we have a current top of the range at 33 and another 50% level at 50 to the upside. The next levels to the downside I see are 3300 and 3287.
In terms of reversals in trading ranges, you just get in DB and take the risk, you said. This means with just the break of the S or D line, no retracement?
After yesterdays trendday the borderlines of the forest might be quite close together. But who knows...
Yesterdays low was already tested, we have a current top of the range at 33 and another 50% level at 50 to the upside. The next levels to the downside I see are 3300 and 3287.
In terms of reversals in trading ranges, you just get in DB and take the risk, you said. This means with just the break of the S or D line, no retracement?
Thanks DB,
actually I meant the break of the supply or demand line of the move towards the upper or lower limits.
The thing is that if one decides to trade the range, which might be 6 or so points wide, then there is not much room for a retracement entry.
I don't think one waits for a Ret in case of trading a range. One's trading a reversal in that case.
Breakouts, retracements, and reverals.
Db has been advocating mostly retracements in this thread. If a defined range is in place perhaps one could attempt reversals. I am not a super fan of it although most traders using S/R in a way are attempting reversals when they enter while price is moving opposite to the direction they are gunning for. I might have fallen in love with Retracements and perhaps am biased a bit
Ret: Price BO and Ret, and then moves in the direction we are gunning for. We only enter when price tide is pushing us along.
Reverals: Price moving in opposite direction. Price not only has to first stop that move, it also then has to reverse that move. In this case there are two sets of events that need to happen before we become profitable. I find this alone to be reason enough to avoid reversals.
Gringo
Breakouts, retracements, and reverals.
Db has been advocating mostly retracements in this thread. If a defined range is in place perhaps one could attempt reversals. I am not a super fan of it although most traders using S/R in a way are attempting reversals when they enter while price is moving opposite to the direction they are gunning for. I might have fallen in love with Retracements and perhaps am biased a bit
Ret: Price BO and Ret, and then moves in the direction we are gunning for. We only enter when price tide is pushing us along.
Reverals: Price moving in opposite direction. Price not only has to first stop that move, it also then has to reverse that move. In this case there are two sets of events that need to happen before we become profitable. I find this alone to be reason enough to avoid reversals.
Gringo
Yep, but did not notice it was the opening range. Now regarding this time of the day, I can now see that I anticipated my long entry, again based on too little information, given the strength of the movement at 10:02.
I guess you took the long at the failure of sellers to breach 52, given that it was the middle of the OR.
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