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

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Quote from niko:

9:41 Was thinking about short at 86.50 but skipped it because of the chop conclusion.
:42 Ret after the BO? Lets see.
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9:45 Short at 80,75 SL fanned
 
I am not so sure where the chop is coming from. Chop is when an up move and a down move both with Ret fail. Did we have that today? Yes, I had to exit short but I was still awake as it was quite visible price didn't have the strength to go up and then another Ret or a drop after a longer Ret came.

90 is also an S/R so being vigilant here is more important than declaring chop right away. This is not the Bride thread. Here you stay alert at S/R. Chop is not just an up and down move (mostly), it's two valid entries forced to exit. These valid entries have Ret before we enter.

9:53: Price is not back and going into new high but that's not the point. The point is to be awake.

Gringo

Edit: Maybe I sound a bit too harsh here. No disrespect is intended.
 
Since this is the Son thread, I can bring up reversal strategies here. Note the behavior at the lower extreme of this range. If you're going to take this, you just have to take it. Waiting for a ret is not always an option. If you can't take it, then just leave it alone.
 
Ret after BO, but consider the risks in entering here. Price has already moved 13pts. Entry was at the btm

Edit: apparently they're ready.
 
In the edge thread, I said that trends don't start at breakouts. This is a good example of what I was referring to.

And don't forget we have an air pocket to fill.
 
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