Son of If You Can Draw a Straight Line . . .
- Thread starter dbphoenix
- Start date
- Status
It's a matter of confidence. The fact that price bounced and couldn't continue down told me LOLR is up. Therefore, I was looking for a reason go long. The moment first Ret showed up that was it for me. You are looking only at Ret and not its context hence got confused and entered late. It's not a bad thing to be a few minutes off but in this thread try to incorporate context with the SL/DL, S/R, trend, and non-continuation.
Gringo
Didn't draw any lines today. Happy about the long at the open, but was a little too apathetic about the first reverse. Could have gotten it at a much better price instead of sitting around and watching price drop through the LSL.
The long at 9:50 was a mistake, too premature. At the time it looked like price failed to go any lower and rising vol wasn't even able to move it that much. Knew I was wrong almost instantly as the next bar continued lower. However, it ended up stalling, and then price began to drift up. I also remembered that I've been missing out by exiting too soon before any serious opposition to my position.
It was really tough at 9:56 when price dropped once again, and although I was very hesitant, I held the position because it still looked like a retest of support rather than a continuation. Volume wasn't as climactic as the last drop, and price wasn't budging more than a few ticks downward at all the effort. Next bar starting going up there really weren't any hitches up to the retest of the high.
I was feeling a little frayed so I just went flat at the first resistance there instead of holding through the congestion. Overall, feeling pretty good about what I was able to get out of the market this morning.
---
Will read through the discussion this morning and respond to it when I have the time in an hour or two.
The long at 9:50 was a mistake, too premature. At the time it looked like price failed to go any lower and rising vol wasn't even able to move it that much. Knew I was wrong almost instantly as the next bar continued lower. However, it ended up stalling, and then price began to drift up. I also remembered that I've been missing out by exiting too soon before any serious opposition to my position.
It was really tough at 9:56 when price dropped once again, and although I was very hesitant, I held the position because it still looked like a retest of support rather than a continuation. Volume wasn't as climactic as the last drop, and price wasn't budging more than a few ticks downward at all the effort. Next bar starting going up there really weren't any hitches up to the retest of the high.
I was feeling a little frayed so I just went flat at the first resistance there instead of holding through the congestion. Overall, feeling pretty good about what I was able to get out of the market this morning.
---
Will read through the discussion this morning and respond to it when I have the time in an hour or two.
- Status