House of If You Can Draw A Straight Line

[k p]

Db, from the 2nd post where you post the charts, I notice that on the hourly that shows this current channel for the past couple of weeks, you aren't drawing in the channel lines by connecting two swing lows and using the highest high between these two points at your upper line. (You do use the highest high, but you don't connect the proper two swing lows) The way you have them drawn certainly looks like this way, where the mean would be, price reacts much better/closer. Since the mean is more important, is this why you're cutting off some of the extremes? Or is it the case that with this channel, being only a few weeks and hence bound to break, the rules for drawing trend channels can be a little fudged so that price is better contained within?

 

[dbphoenix]

Db, from the 2nd post where you post the charts, I notice that on the hourly that shows this current channel for the past couple of weeks, you aren't drawing in the channel lines by connecting two swing lows and using the highest high between these two points at your upper line. (You do use the highest high, but you don't connect the proper two swing lows) The way you have them drawn certainly looks like this way, where the mean would be, price reacts much better/closer. Since the mean is more important, is this why you're cutting off some of the extremes? Or is it the case that with this channel, being only a few weeks and hence bound to break, the rules for drawing trend channels can be a little fudged so that price is better contained within?

Eliminate the lines.

 

[k p]

Eliminate the lines.

I do love this advice.. I really do. Focusing on the behavior is at my core now... watching the rejections, the levels beyond which traders don't want to go, it makes perfect sense. But when it comes to entries, when it comes to figuring out where to get out that isn't going to be based on just what I think, but something that I can actually backtest, this is where I'm stumbling.

Anyway... I know the answer is in the charts... so I just have to find it.

 

[Gringo]

Db had imparted some words of wisdom on me a very long time ago. The night was clear, with the starry sky looking magnificent in its twinkling glory:

Db: Do not try and bend the line. That's impossible. Instead only try to realize the truth.

Gringo: What truth?

Db: There is no line.

Gringo: There is no line?

Db: Then you'll see it is not the line that bends, it is only yourself.

Gringo

 

[Scaleout.Scalper]

Db had imparted some words of wisdom on me a very long time ago. The night was clear, with the starry sky looking magnificent in its twinkling glory:

Db: Do not try and bend the line. That's impossible. Instead only try to realize the truth.

Gringo: What truth?

Db: There is no line.

Gringo: There is no line?

Db: Then you'll see it is not the line that bends, it is only yourself.

Gringo

Give credit where credit is due, "The Matrix".

 

[dbphoenix]

Give credit where credit is due, "The Matrix".

Your leg is being pulled.

 

[dbphoenix]

 

[dbphoenix]

Interested individuals will note that subsequent to the above chart traders found value between 88 and 91.

Now let's see what they do with it.

 

[MadeMan]

Interested individuals will note that subsequent to the above chart traders found value between 88 and 91.

Now let's see what they do with it.

looks like they faded the breakout , the reactions from 89.. as of now gained no traction ie.. fail to make new highs... or at least test the daily high again...

 

[Scaleout.Scalper]

Your leg is being pulled.

There is no leg.