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The wave structure referred to is both behavioral and theoretical. During the period when POP was trading, this structure was more evident. However, when the Fed started interfering with the market directly, the "3" became a "4" then a "5" then ever upward until we entered the bubble era in '94...

The "why" for me is Auction Market Theory. But in terms of day to day trading, I'm only interested in whether or not price rejects an extreme. If it rejects the upper limit, I go short. If it breaks through, I go long. There's no angst over "why" traders are behaving as they do at that...

Not all. The "why" doesn't matter to me. All I'm interested in is the what and where.

:rolleyes:

As states across the country are moving to expand Medicaid coverage to additional low-income people under the Affordable Care Act, lawmakers in Arizona want to take the opposite approach. On Friday, Gov. Doug Ducey (R) approved a measure that seeks to tighten the state requirements for Medicaid...

Although his entourage isn't too shabby. Derwhatever reminds me of that grasshopper in A Bug's Life that they had to keep on a leash.

I know. Probably dyslexic. Or English is not his native language.

No, if it drops below that level, short. That's about as clear as it gets. Which remains, unfortunately, unclear to you.

Actually I left the lines off on purpose because those who've been learning how to track price can likely tell a change in stride without having plotted any lines. In fact, if one were trading this without lines, he would be far more likely to short that double top rather than wait for some line...

And we continue to drift sideways. No buy. No short. Yet. Or is that too sophisticated for whatever sort of brain you have?

Well, damn, Bern. I guess everybody can go home. :) I'm pleased that there are people out there who understand this so well. That makes the effort worthwhile. Just one tiny little tweak, though (of course). When price begins to move sideways in a trend to the extent that the SL or DL goes...

The principles are the same regardless of the bar interval. Naturally there are more opportunities on a 1t chart than on a weekly chart, but the protocol is the same (you'll recall that the pdf uses 60m bars). If someone wants a broader view, he should trade a larger interval. The only reason I...

There's a considerable difference between sending a letter to the Secretary of State and sending an open letter to the leaders of a foreign country.

There are more than that, if one follows the protocol.

Quite a bromance, isn't it?

Sorry, I was not clear. There are no lines drawn on the charts in Section 7.

The purpose of the line is to track trend, i.e., the balance between demand and supply. However, a great many people obsess over the lines just as they do moving averages and Fib levels, expecting the lines to deliver something they were never intended to deliver. In short, the "heart of the...

Supreme example of cognitive dissonance.

I don't know how many people are going to try this, but it has nothing to do with trend lines or trend channels, partly because by the time a channel can be drawn, most of the trades are already gone. Therefore, the channel is useless. To a large degree, understanding what these numerals...