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"Mister, I met a man once when I was a kid," it always began. -- Casablanca

Since we appear to be forming a double top in advance of reaching the top of the trend channel, one ought to know the short-term downside "target":

After 4000 posts, whatever might be asked has surely been asked, and, at some point, like this one, the trader must move on to the application, and this requires a journal of some sort, either public or private, either written by hand or on a computer. Therefore, I encourage those who are...

Care must be taken when exploring methods which may not be what they claim to be, such as those that claim to "trade Wyckoff" or "trade price" or "trade AMT". AMT, for example, must have something to do with volume as must any approach to trading since trading requires transactions and volume is...

Looks like they didn't. Even though we hit my "target" of 30, they just couldn't make a higher high, even though they came within just a few ticks. The upper limit of the channel is at 80, but this is a double top, and it has to be played that way. The line was broken yesterday evening...

Still doing it. This was the original post: http://www.elitetrader.com/vb/showpost.php?p=3940819&postcount=12 I cut all but the end of it to write a response. This is what I got after writing the response and clicking Submit Reply: [CENTER]

Unfortunately, simple and easy aren't the same thing. For one thing, you've got all those pesky motives of millions of traders . . .

Supply/Demand lines and trendlines and trend channels all have the same purpose: to inform you of the balance between supply and demand while providing clues as to future direction. Don't get so entangled in lines that you forget this. If it all becomes confusing, just get rid of them and look...

The lines here and in the charts in the above post are not exactly incorrect but they could only have been drawn in hindsight, and drawing them in hindsight isn't going to do you any good. I haven't followed this thread since the crowd left because there wasn't much point in doing so until...

So you did forwardtest using the list that you came up with as a result of your backtesting? As for forwardtesting, no, that's not the same as paper-trading. There are three phases here after the initial exploration and deciding what you want to test: the backtesting, which is done in...

If you're going to attempt to apply the demand and supply lines I've suggested, understand first what they're for. Without that, you will more likely make things far worse for yourself. This chart is from one of the five you posted a few days ago. Waiting for the first retracement is nothing...

What are all these lines for? It looks like a microwave transmission grid.

Now don't you feel better? :) Hope this works out for you. But it's going to be tough after six years. Don't think I've ever seen pink before . . .

Yep, that's about it. Though what bar intervals you use don't really matter since they're all bundled tick charts anyway. The only difference is the size of the bundle.

Don't over-salt it and you should be okay.

I haven't studied crude, so I have no opinion to offer. It might be applicable. Be interesting to find out. But I assume crude is mean-reverting, so AMT might be of more use. Let us know.

In this case, it doesn't matter. The point, assuming you read the pdf, is that the volume pattern is wrong for what might otherwise be considered a hinge, whether one posts a 1t chart or something with a larger interval (using the same timeframe, of course; the timeframe is six hours, regardless...

I get questions about hinges, and I've made tons of posts on hinges, but who wants to read tons of posts? So I've attached a pdf below of something I wrote several years ago on hinges. It may be helpful. Or not. Below is a chart of what is not a hinge. It is not a hinge because of the volume...

At the beginning, what Steidlmayer had to say was not much different from what Wyckoff was saying back in the 20s and 30s. But as with anything that has marketing possibilities, MP soon grew into something that went way past esoteric. As always, keep it simple.

Ditto the fascists.