Bride of If You Can Draw A Straight Line

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

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  1. dbphoenix

    dbphoenix

    No. There no SAR since the SL was broken. Therefore, the focus switches to a long. You took that and were SO. However, there's no further short unless and until there's a RET after the break of the DL. And there wasn't. So no trades.

    Now there's been a break of the latest SL, so the focus becomes a RET for a long.
     
    #721     Dec 17, 2013
  2. dbphoenix

    dbphoenix

    And there it is.
     
    #722     Dec 17, 2013
  3. dbphoenix

    dbphoenix

    And now you should be out of it.
     
    #723     Dec 17, 2013
  4. niko

    niko

    Thanks for the comments. I took the long at 10:04. I guess this is the kind of scenario when one must take the decision between scratch and not to scratch.

    So the thing here is, I can take the long and scratch it as soon as I see that prices are not going where I expected them to go (up) and evaluate the trade, here the new swing low couldn't make it below the previous one, so a reentry is in order. That would have happened at 66.50 and it is still valid. so far.
     
    #724     Dec 17, 2013
  5. dbphoenix

    dbphoenix

    Not here. There is no decision to be made. If the DL is broken, scratch the trade and wait for the next opportunity. If you can't do that, then you won't progress.

    Nor is there a re-entry. Swing points are not in play in this thread.
     
    #725     Dec 17, 2013
  6. Gringo

    Gringo

    1013: DL break
    1014: NH
     
    #726     Dec 17, 2013
  7. niko

    niko

    ok
     
    #727     Dec 17, 2013
  8. niko

    niko

    10:20 DL broken
    10:21 Short at 65.50
     
    #728     Dec 17, 2013
  9. dbphoenix

    dbphoenix

    These halting continuations trap the undisciplined. Note the arc to the low points of the bars. Buyers can't escape and keep getting dragged back into what is essentially a tack to sideways. Just leave it alone until they decide what they want to do.
     
    #729     Dec 17, 2013
  10. dbphoenix

    dbphoenix

    No, sorry. If you arc your DL, it isn't broken.
     
    #730     Dec 17, 2013
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