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

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Quote from Hooti:

Awk! still working with house project, and they needed advice right at the open. ##@@!!

10 00 ret long


....I was lucky just not to be at the computer for the 958 ret short!
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What RET, the failure to break 08?

10:08 Long at 14.50 noted, not taken.
10:10 DL holding, but sellers were waiting at 16,50
 
Quote from niko:

What RET, the failure to break 08?

10:08 Long at 14.50 noted, not taken.
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On my data feed, the 959 bar made a retrace long att 11.5


There is another ret long at 1006, and the demand line is in jepardy at 1011... to fan or not to fan, that is the question... rather tis nobler to fear the slings or arrows of... traders unkonwn and... and... I'd better pay attention to trading again
 
Quote from Hooti:

Awk! still working with house project, and they needed advice right at the open. ##@@!!

10 00 ret long


....I was lucky just not to be at the computer for the 958 ret short!
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That was too late a short. Just because there's a retracement doesn't mean you jump in. Use retracements at turns when price has run away from you and is closer to a support. First or second retracement is fine but beyond that is a bit too ambitious.

Closer to support look for SL break and Ret for the long. Look how SL is broken then new low fails telling you supply is losing. Then comes Ret and you go long.

Gringo
 
Quote from Gringo:

That was too late a short. Just because there's a retracement doesn't mean you jump in. Use retracements at turns when price has run away from you and is closer to a support. First or second retracement is fine but beyond that is a bit too ambitious.

Closer to support look for SL break and Ret for the long. Look how SL is broken then new low fails telling you supply is losing. Then comes Ret and you go long.

Gringo
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Great to see you here.

10:15 DL in trouble but not broken just yet, looks like buyers are attempting a BO. Lets see.
10:17 DL broken and R at 16.50, waiting for a RET to happen, but we are on a TR, so wont trade this short either.
 
Quote from niko:

Nope, dont see that
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the 1000 bar is 1 tick above the prior four, and they had dipped...

In my mind that is a retrace and "BO" up


And thanks Gringo, point well taken
 
Quote from Hooti:

the 1000 bar is 1 tick above the prior four, and they had dipped...

In my mind that is a retrace and "BO" up


And thanks Gringo, point well taken
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Interesting, seems like we understand different things about RETs, perhaps is because I am waiting for the bars to form.
 
Here's the chart for easier analysis. Keep in the, the moment first SL is breached you're ready for a retracement or failure of continuing down.

attachment.php


Gringo
 

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We have a opening TR now. So there was another short if one didn't want to wait for 50% before making a decision.

1026: Notice how price isn't crumbling. That means get cautious as the short might be faulty.
 
Quote from Gringo:

Here's the chart for easier analysis. Keep in the, the moment first SL is breached you're ready for a retracement or failure of continuing down.

Gringo
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I was looking at a little bit above your green circle as when the retrace entry was viable... I guess I'm still in the blushing bride, er... groom, stage. But what you are saying makes sense.


10:28 there is a nice supply line for the short, but it's in jepardy


Did we ever make sense on the retrace to you Niko?
 
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