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Yeah. And just think how much better I could be without all those lines :)

The top of the trend channel is at 67. If you're going to play this, I suggest you stick with the short side if the setup arrives.

Price does in fact break to the upside, but it's turned back at the upper trendline.

Watch how traders behave. This will tell you whether or not the levels you've chosen are important.

There are two halfway levels here, both within a point of 55, which has been confirmed by the opening range. I suggest you just sit back and relax.

I think you mean "scratch".:)

Slipping below the halfway levels of both the downmove on the 9th and the downmove beginning Friday nite.

Depends on how picky one wants to be about his definition of "congestion". You have lower highs and lower lows, so, technically, you have a downtrend. But the more important consideration is how easy/difficult is it to trade? Does one really want to give back some or most or all of his gains by...

The supply line drawn at the far right edge of the last chart was fanned slightly when price made a lower low. However, even that line has now been broken. The lower high followed by the higher low suggests upcoming chop, so one can either trade it or stand aside until price exits from it. Given...

:cool:

I'm somewhat surprised that no one has been able to guess the title of the next thread, if there is one (thread, that is).

Sorry for not posting an update Friday evening. I had other things to do. And the market was closed for the weekend anyway. Even so, if one understands and follows the rules, the trades are there whether one takes them or not. So those who want to go on about hindsight can save it. Your time...

A lot of it has to do with age. Traders under 35 or so see the trading world -- and the world in general -- much differently from older traders. Discount brokers whose commissions are practically free, computers, real-time streaming quotes for next to free, charting software, instant executions...

I brought it up in another thread today or yesterday. Sorry. I thought you'd seen it since the subject came up again so quickly. As to what it's worth in 2014, I have no idea. As I said, I hadn't looked at it in decades, and I haven't traded stocks in 15yrs. If you trade stocks, it may be...

I'm not arguing anything, except perhaps in the legal sense. What I have said is that trading by price cannot fail because price is self-correcting. But, again, those who care can start over at page three.

There's so much of value here that cherry-picking quotes would be a wasted effort. I can only hope that those whose interest is in any way piqued will print it out and read it again and again, preferably alongside a review of past trades.

Since I'm the one who brought up O'N in the first place, I suppose I should point out that I became familiar with the book decades ago, before websites even existed. At the time, it was gold. Now, not so much. For one thing, the role of funds is considerably different now. And the objectives of...

Rather than start all over again, I suggest that those who are interested -- if anyone -- go back to page three and work their way forward.

:) Well, if you skim through the trolls, it's considerably shorter. The third thread was begun (a) because so many people had so much trouble understanding basic supply and demand, i.e., up and down, and (b) because the fears that they had developed over time prevented them from being able to...

Trend and momentum? Depends on how one defines them. Quite frankly, I really don't understand how "trend traders" define trend since they are so willing to accept extraordinary drawdowns. To me, if the drawdown is that heavy, how on earth is one defining trend? For me, trend is simply the...