Bride of If You Can Draw A Straight Line

Anticipate a retest

 

I didn't see RET for the long. Where was it? The fact that it broke above the 83.5 area was the endorsement for strength?

 

I was thinking about that (the long is closed already). I have noticed that after these strong moves, the first RET is usually not the place to enter, as the Retest that matters is usually deeper, making the first entry a waist of effort and time.

Am I getting it right?

 

10:34, it was feeble, but it was a RET.

 

You're right.

 

steeper supply line which can be drawn on the retracement

 

The first "ret" was so small as to be perhaps a software anomaly. After a climactic selloff, I prefer to wait for at least a swing point before drawing a supply line. That way I don't have to worry about getting out, getting back in, getting out again, getting back in again, etc.

OTOH, if one has serious fear issues, it's better to just exit and take the money, then stand aside while the action plays out.

 

stop would now be 1 point above the last swing high of 3385.75

 

Now you have a rejection of 79, what the VSA people like to call a "spring" *sigh*.

However, until the supply line is broken and a subsequent retracement occurs, there is no long. And if one remained in the short, there's no exit until the supply line is broken.

 

Thank you, I have been working on my fear, so that I can avoid overpaying for my broker´s child private education!

After 10:40 I lost focus, I am not sure how to read this so I am observing.