Bride of If You Can Draw A Straight Line

Thanks for pointing that out, was not paying attention.

 

9:58 SL traced, but it is already in trouble.

10:01 Are buyers losing the ball or is it just me?

10:01 Short at 57.50

 

To recap, the first trade pre-open which was a 2t loser, the next at the open which if taken would be at least a 10pt winner, if not taken the next at 0941 which would be at least a 3pt winner.

Therefore, so far, a 50% winrate and a P:L ratio of up to 10:1 off two trades.

 

10:03 SL fanned

 

Should point out for readers that an SAR was necessary here if a long had been taken off that retracement at 0947.

 

Yep

10:06 SL fanned
10:08 SL poked, we are at the 50% level from the open

 

Based on the higher low?

 

10:10 SL broken + RET Long at 55

 

Loss: 2 ticks
Profit: 10 points = 40 ticks.

P:L ratio 20:1? I am not sure about my math but perhaps someone else can correct me.

Gringo

 

Be wary of chop.