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

Yep. And what does he do if and when he sees one?

 

I'll be looking for when the halt in drop comes or whether it's accelerating.

 

Re-enter if already out. Get alert for exiting if still in.

 

Here is where it gets tricky for me, if i am still above 50% and the trade is still open, i will do nothing, but if i am out of the market i guess i should short.

 

Actually, if he were out, he'd be looking to go short, which is where the retracement comes in.

 

I assumed the price had to fail first to confirm that it was a retracement. By fail I mean supply re-asserting itself while price was on the way up. Without that failure price could very well go straight up to new high.

What is a retracement? It's the rise in price that followed the DL break and price drop?

It's getting interesting isn't it

 

Yes. It's retracing whatever direction it happened to be in at the time.

 

G, are you talking in general or refering to the movement in friday, specificaly the move from 10:14 to 10:16?

And yes is getting extra interesting.

 

Talking in general. I'm attempting to answer Db's questions starting from the DL break.

 

How would you trade NQ this evening..??
Assuming you were not holding a position over weekend of course..

Buy - 19.08e bar
Add to position - 21.32e bar

Sell all - 22.18e
Go flat here, may be even initiate a small short position..??