WY-05-23 / 07
Updating, Deferring, Switching, and Not Trading
Continuation and Complex Structures
Lesson / WY-05-23
When new action fits the primary hypothesis, retain it and use recent highs and lows as new references. With local contradiction, withdraw that event's support for direction or new entries while preserving its historical behavior and reclassifying if necessary. Only opposing action damaging key conditions requires adopting the alternative or becoming neutral. There is no need to reverse direction with every bar, and local-event failure need not immediately overturn the whole range assessment.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
7 lessons · Chapter contents
01Primary Hypotheses, Alternatives, and Neutrality↗02Two Interpretations of a Range After a Decline↗03Two Interpretations of a Range After an Advance↗04Supporting Behavior and Contrary Evidence↗05Persuasive Evidence Versus Repeated Labels↗06What Observations Distinguish the Two Explanations?↗07Updating, Deferring, Switching, and Not Trading↗Observe the market: start with context and place price within its structure.
Understand structure: compare supply and demand, and let evidence support or revise your hypothesis.
Form a view: define risk limits and know when to reassess.
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Reaccumulation, Redistribution, and Complex Schematics
