Don't anticipate. You bounced off the mp of the tr, retraced, made a higher low providing an entry at 54.75. It's not chop unless you have a series of overlapping bars. If it doesn't make a higher high, then you have chop and you're out. But that comes later.
Thank you. I actually saw the MP and considered it, perhaps the fact that I was thinking short at 54 made me lose focus here. Will leave experiments for replay 9:45 Finally an entry 59.75, lets see, perhaps I am late to the party. 9:49 DL fanned.
I've said this before, but if one enters after he should have, he can, if he can stand it, determine his potential exit according not to where he entered but where he should have entered. If he can't stand it, just exit as usual.
You are just getting ahead of me, as always. I was going to post something in this regard. Given that the market does what it has to do, the logic thing here is to hold the long at "54.75" even if one entered at 59.75. 9:54 DL in trouble. :56 DL fanned lots of volume for 9:56 BC????
1003: LSL holding so far. So be cautious with short. 1004: small TR? or some rest before continuation up? We await the verdict.
There are two options: either buyers rush in to take price to a new high or sellers lower their prices in order to make trades.