U would redraw that line everytime.
yes i will but it is in the utmost case a beginning sideward moving since there are no bad News resulting and forcing in an downtrend
i'm getting reaaaaaaaally tired of saying this but bad news doesn't 'force in a downtrend'. that's simply not how price behavior works.
also, @ roeland, trading on "gut feeling" is a terrible idea that will yield results worse than chance. you will end up lagging sentiment instead of leading it and will be pick-pocketed by every better trader.