Son of If You Can Draw a Straight Line . . .

This is a scenario I'm chewing on in terms of avoiding chop: Would a break of the DL with a drop back into the range and a RET be a legitimate setup?

 

9:28 looks like the BO was legit. I did not take it but i assume the entry here was 80.50.
9:30 SL broken, LSL broken.
9:31 Tricky one

 

Wide moves, indecision at hand? Isn't the long still legit? I would think so.

 

0932 Struggle at 50%

0939 Failure at 2000 SL

 

9:35 As sellers failed to take prices back in the range, long at 82.50
9:38 DL broken
9:39 Short at 80.75
9:41 buyers at 76

 

Short 81

 

Nice,

I am seeing no interest of sellers below 76. SL is fuzzy here.

9:46 50% held, but no FT below 76.

 

Puh, still in...50% held...so far

 

One of the more spectacular failures I've seen lately.

 

We still have LL and LH in place. The bigger scheme of things showed a failure from top. Find reasons to stay in the short if you can.

0951: Ok. Demand isn't giving up.
0952: Wow! Demand is back in force. What's happening? Too much confusion. 76 is tough.