Would it be more correct to refer to the steeper on as the demand line and the less steeper one as the trend line? The logic (?) would be the same I believe.
At the right edge we have a DT but the DL is still intact, so the long is held. As there is no HH above 14 there is no fanning of the DL. Am I wrong?
It would be more correct to read the chart from left to right, in which case the less steep line would not exist.
You don't yet know whether you have a double top or not, but the long is already triggered regardless, and you don't know whether you'll have a higher high or not. I suggest you move on to what follows.
Okay, so this chart accurately represents the current state of our trade. I agree with your analysis of the faltering strength of the down-move. If left to my own devices, I would probably be waiting for a larger RET to enter on after the first one following the orange demand line break that you entered on. I wouldn't have initially thought to enter on such a small RET right after the Supply line break. Perhaps I may be requiring more confirmation than necessary in order to start thinking about taking action. Something I'll have to look further into.
My entry today, SL broken and bounce at 14. Entered at the pull back. Now monitoring DL's. Currently banging against the upper channel but so far no break of DL.
In order to move on to what follows I am going to have to make use of my datafeed, as I have not been able to get friday chart on Investing.com (any help?). Next moment of decision comes at 10:32 when the DL is pierced, will it go back up or will it reverse direction, a fail to reach or break LSH will be the RET we are expecting. It comes just a minute after so we place a Stop Limit Sell at 11:25. It is triggered, then at 10:40, price makes a LL and the SL is fanned in, the line is broken just a minute later. Here is where exit rules will vary, some will exit here some will wait as LSH still intact. I have a doubt though, at 10:42 price barely manages to go 1 tick below LSL, I usually think of this more as a DB than a LL, and that changes everything for me, if it is a DB then the SL is not fanned (Fuchsia one) and therefore broken, making me look for a RET which comes right away, if is a LL (Blue one) then the line is fanned out and the movement at 10:44 is just another RET within a downtrend. All opinions are welcomed.