Bride of If You Can Draw A Straight Line

Discussion in 'Journals' started by dbphoenix, Oct 28, 2013.

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  1. niko

    niko

    10:38 DL in trouble
    10:41 Either a break or a RET, lets see.
     
    #661     Dec 13, 2013
  2. dbphoenix

    dbphoenix

    You're going to have to define "higher high" for yourself, if you haven't already. Note that the bar you've circled is only marginally higher and fails immediately. If you don't count that as a higher high, then there's no fanning and you have a short at a higher level than the one you took.

    However, if being squishy about definitions is a problem in real time, then leave it alone and consider even a tiny thrust as a higher high.
     
    #662     Dec 13, 2013
  3. dbphoenix

    dbphoenix

    You can go on like this until price breaks out of this, which it eventually will. Or stop. If you can use the practice, I'd stick with it for a while.
     
    #663     Dec 13, 2013
  4. niko

    niko

    I am still working on it, at the time I "knew in my heart :)" it was not a HH but I am on drill following mode, so I decided to call it one and see what happened.
    10:43 Short at 60,50
     
    #664     Dec 13, 2013
  5. niko

    niko

    I can use the practice, so I will stay all the way to 11:00
     
    #665     Dec 13, 2013
  6. dbphoenix

    dbphoenix

    And that's a scratch.
     
    #666     Dec 13, 2013
  7. dbphoenix

    dbphoenix

    And if you scratched, this is a re-entry.
     
    #667     Dec 13, 2013
  8. niko

    niko

    Still not sure HOW you manage to do it. But I felt the need to exit that trade as it failed to get below 59. I held it open and still in. But I know I cant achieve that in the real world. The thing here I guess is the ability to reenter as buyers show they were not able to take prices above 62.
     
    #668     Dec 13, 2013
  9. niko

    niko

    Gotta learn to scratch :D
     
    #669     Dec 13, 2013
  10. dbphoenix

    dbphoenix

    And if you didn't scratch, you now have a more downwardly-sloping SL
     
    #670     Dec 13, 2013
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