Bride of If You Can Draw A Straight Line

And ES in chop.

Notice how one can find S&R as a consequence of drawing these lines. It's not necessary to find S&R in advance.

 

Yep, assumed that the chop was diagonal and took the short at 63.75, already out.

 

Chop is lateral.

 

NQ trying to leave chop again.

 

Historically, whenever I have a killer morning, I tend to get sloppy with trades in the afternoon, and not unlike many others, tend to give much back. It is a trait of a poor trader to want to be in "the game" all the time.

Not trading is a bit contrary to the efforts that generally bring success in other occupations where "keeping at it" leads to reward.

Not trading is a difficult thing to do for some of us, especially slow learners like me.

 

Yep.

 

NQ busts out of chop. See how it's behaving?

 

Retracement for a long.

 

Out of the chop, I am currently not testing RETs after BOs, but couldn't help to think about an entry at 72.75 at 10:49. My question here is when is it valid to consider the BO as initially the chop upper limit was 72, but after the poke at 10:33 I was not sure if the upper limit was shifted to 73.

 

You mean the indecision just before the break? I noticed that although buyers were rejected at 73 sellers just couldn't make LLs.