Recent content by mckaldey

Thanks Chris, I read that, but thought that I need a bit more clarification.

Sorry DB, is it that, what you mean? In general it means that after a break of the stride with more than 5 points a change in sentiment is more likely and acts as a confirmation of the prelocated levels? In terms of backtesting, did I do the measuring correct?

Dear DB, thanks for all the great posts which for me were clearifying topics like hinges and climaxes further. In terms of the chart above, what do you mean by 5 point entry, 3 point stop? As far as I can see you take the entry after a certain move away from what seems to be support or...

In terms of this post I have to ask: In general, the core of the concept is trading at the extremes - which would be upper and lower limit of a range or channel, taking reversals or breakout trades. But you mean that if the LOLR is clear one could take every opportunity in that direction like...

The connection to Wyckoff is simply the start at the beginning? Rereading section 15 I did not find anything where he is talking about keeping those older or formally drawn channels or that those can hold price. But as the channel is just another form of range, revistiting those old ranges...

I have to say that I'm still chewing a bit on this weekly channel... The way DB and you have drawn it are hard for me to grasp. It's clear that the channel itself should provide information on overbought/oversold conditions and potential opportunities... But wouldn't it make more sense like...

The weekly range that Kleft posted was actually the range I meant. I guess I would have never came up with the range you posted.

Sorry, I don't understand this current channels you have drawn. I would have drawn a lateral range on the weekly...

Here is what I would see as context... Potential support at the other extreme of the range... ...and the reason for messy action is the trading around the midpoint where the balance of power is found...and for that it is unclear who has the upper hand... That's what I learned so far in terms...

At a point in really starts to make sense...finally...:smart: This is again the micro, but the macro view would be seeing potential buyers at 4530. So for me - even in this mess - the path of least reasistance would be short... Until support is found... Also the often cited sentence...

Context in action... After the failure at 4440 or 50 and the reetry in the range and the supply line break and the break of the midpoint the direction was pretty clear and the potential target is the top of the range (4540) and then there might be resistance at the midpoint of the november to...

My perspective looks like that... So according to the SLA I would wait for the break of the range and then trade the RET (on the 60M for example)...

Thanks DB, watching the sector before taking action in a stock is something I have to do in the future. Thanks for reminding me. Maybe I will have to read the part from the Wyckoff course again... In regards to USO, my SL was broken and I'm not sure which one you mean. Another one could have...

The USO short was obviously late and in terms of the weekly not at an extreme. The MO short was within lateral action i.e. not trending... The other lesson is taking small losses... Would you agree?

For the record: Both trades were closed with a small loss.