Bride of If You Can Draw A Straight Line

Yesterday's high, which has now been tested, the last demand line has been broken, and one could now short the retracement.

 

Wouldn't that push us inside the range between 90 and 99, or is it because of the importance of the level just tested that the odds change in favor of the bold?

 

Yes, it would put you back inside the range, so one has to decide ahead of time whether he wants to trade ranges or not. If you look back at the daily, you'll see that we're still struggling with this 3360 to 3400 range.

Note that price is testing the next-lower demand line.

 

Yep. For now I leave the ranges to the advanced students, but thanks for the heads up regarding context today.

 

Today´s action, although there was not much action up to 11:00.

 

And price breaks out of the range. Let's see what buyers can do with it.

 

Thanks for noting this. It is impressive how just after your post prices pushed higher!

 

Gotta go for real now. Take care and thanks.

 

dbphonix,

Just wanted to say that I've combined your method with Anek's one, and for now (almost a month) its working very well, I might post charts later today...

 

He showed up about the time I left, so I'm not familiar with his method, but I'd like to see your charts. However, they may not be consistent with the content of this thread. Have you considered opening up a journal for your charts so that others can contribute to what you're trying to do?