House of If You Can Draw A Straight Line

[eminiman414]

I find it funny to read those posts to the thread that's devoted to me about how this is all crap and doesn't work and yet here we are watching it in real time doing exactly what it's supposed to do.

Yea I suppose getting to 22 was a fluke too. Hahahaha.

 

[dbphoenix]

And the old high is only 36pts away.

No edge, of course, if one doesn't know what to do with that.

 

[eminiman414]

I suppose I should also say that when that situation repeats and you get all cold all of a sudden and even light-headed, then you're not ready to take any trade at that point. So don't. Just stand aside and observe and take your notes. With each occurrence, the fear will lessen, and eventually you'll be able to jump in and take the trade knowing full well that the world will not come to an end, that your account will not be wiped out even if the trade backs up on you and you get out of it. As long as you have your catastrophe stop in place, you could even lose your internet connection at the same time and you'd survive.

Honestly I think I've just been a big baby...seeking something that I will never find....utmost certainty. Everything I've tested has a positive expectancy with the average winner multiples of the average loser but my winning percentage is what was troublesome to me. The one thing that I left out of all of that testing was a better/understanding of context and the patience to wait. Obviously this improves that win rate. Also, just the experience/screen time with that better understanding.

 

[dbphoenix]

Patience, yes. Once price took off this morning, there was really nothing to do until it got to that first daily swing high at 86, and then there was nothing until 4322 except for 4300. One can even set a stop and go do something else.

 

[dbphoenix]

Somebody "liked" something that I wrote way back in the first journal that I'd forgotten about but which is actually pretty good:

Think of going to some game with which you are unfamiliar: football, rugby, soccer, cricket, whatever. While you're watching the game, your chief thought is not when you should jump onto the field and begin playing. Your chief thought centers around the questions above, primarily What the Hell Are These People Doing?

Same with studying charts.

 

[dbphoenix]

Even though it's only Thursday, the news is in the daily chart, not the weekly, since the downward-sloping trend channel in the daily is clearly trashed. Price behavior has conformed to the lower limit of a potential range that I drew in last week and printed what is so far a parallel upper limit. And since all of this may be important today, here it is:

I have to chuckle at those who say this doesn't predict, particularly in light of yesterday when we predicted the stalling levels all the way up to the prediction of 4322. Clearly those who insist that this doesn't predict don't know how to find a range, either lateral or diagonal, so they wander aimlessly.

We have a compass. They don't.

Pity.

 

[dbphoenix]

I know it's early, but note the test of 22 from beneath.

 

[dbphoenix]

FWIW, a specific rejection is hindsight. Understanding what they are, what they signify, and what to look for are not.

Next swing high after 29 is 48.

 

[dbphoenix]

I was just asking if at 1:56 you consider that a dog?

In case I forget later, all that activity around 1003 was a dog.

 

[Gringo]

10:21: Demand is in charge but barely. Could be taking a breather or tired. We'll have to wait and see if demand reasserts. I'd be careful around here. 4329 area. Such silence in activity.

10:22: Looks like a hinge.