Son of If You Can Draw a Straight Line . . .
- Thread starter dbphoenix
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This are today´s entries. As advised, I am now looking for reasons to stay in, therefore paying more attention to the 50% levels that to the line breaks. The only exception is when I get an entry in the opposite direction as what occurred at 10:14 and 10:29.
In retrospect I guess both were valid, the first (10:14) was at S at 05 and the second (10:29) was at the 50% level of the downswing from 9:41. Perhaps the fact that sellers were not able to co below the 50% level of the upswing from 10:07 could have been a reason to stay in the long, that could have been exited after 11 around R at 21. But at the moment the fact that there was such a strong downmove tilted my bias to the short side.
Maybe the fact that we were still on the TR 05-21 should have prompt me to act in a different way, but that will need more screen time.
In retrospect I guess both were valid, the first (10:14) was at S at 05 and the second (10:29) was at the 50% level of the downswing from 9:41. Perhaps the fact that sellers were not able to co below the 50% level of the upswing from 10:07 could have been a reason to stay in the long, that could have been exited after 11 around R at 21. But at the moment the fact that there was such a strong downmove tilted my bias to the short side.
Maybe the fact that we were still on the TR 05-21 should have prompt me to act in a different way, but that will need more screen time.
Quote from niko:
20 points still decent money where I come from. I guess 40 draws got in at 23after buyers failed to break above R. It was a top to bottom TR move. Just short at the top and cover at the bottom, easy as pie (hehehehe). Not for me in RT though
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Db has low tolerance for mediocrity. If you stay with only 20 point gains for too long, you might be demoted.
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