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Move your UL to the first swing high. Then copy and paste it to the first swing low. Find the midpoint of this decline and that will be the tentative mean for the "channel". Incidentally, this is inconsistent with the chart you posted yesterday. The 3/7 high should be around 40.

The first post of this thread suggests those posts which will cover the basics. If they don't answer your questions, then search "midpoint" and/or "mean" using my name.

What is a "high made first"? What constitutes "earlier in the day"? What constitutes "confirmation" of a short? If we open below 50 and you then look for longs, then why pre-characterize the day as a SSD in the first place?

The system made only 158k in 7 yrs, right? As a computer backtest?

Since I and my approach are topics of conversation here, I suggest that you demonstrate the efficacy of this approach. Since this is a journal, that means posting what sort of day the following day will be and your trading plan for that day. Then, at the end of the day, explain what you did and...

For the time being. If price reaches the lower limit, then the channel is still in play and you may be trading a market top in real time. We'll see what happens if and when it bounces off the lower limit and makes its way back up to at least the previous high. Since we're sitting dead on the...

You're mixing up intervals. 70 was the midpoint of the decline from the top at 3740 to the low at 3600. If price could not get past it, that would suggest weakness. And did. Therefore, there's no reason to wait and see if price finds strength at the midpoint of the rally from the open to 70...

Yeah yeah yeah :)

One's choice depends on whether he wants to play at the "highest level" or make money. Most members of trading forums would do well to stop losing.

Nothing extreme about it. I suggest you review NoDoji's posts from the first page of this thread. It all begins, of course, with the ability to tell the difference between up and down.

Price formed a double top at the mean of the Nov TC a couple of hours ago (I'll assume nobody was up; Europe?). This may set the mood for the morning (the lower limit is around 3550).

http://www.traderslaboratory.com/forums/wyckoff-forum/3866-wyckoff-resources-2.html#post86783 http://www.amazon.com/Technical-Analysis-Stock-Market-Profits/dp/1897597568/ref=sr_1_2?s=books&ie=UTF8&qid=1395055389&sr=1-2&keywords=richard+schabacker (Available for free online; I have the pdf but...

You can talk all you want about what a stock should be doing or why it isn't doing what it should be doing. You can talk about inflation, interest rates, earnings, and investor expectations. Ultimately, however, it comes down to the picture. Is the stock going up or down? Knowing the reasons...

Buyers and sellers are not playing a game. They're making deals. Those who make the best deals read behavior via body language and tonality. The best traders read behavior via price movement.

Caring about who wins, caring about winning, caring about profit are all behaviors that eventually lead to failure, largely because they all introduce ego into the picture. And in this regard, it doesn't matter whether one is mechanical/automated or discretionary/intuitive. They find/stumble...

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I take it you never read the Bottom Fishing file . . .

Price Risk Information Risk Opportunity Risk

Technically it looks good to me. And what's the risk?

The distribution ship sailed long ago.