WY-07-31 / 03
Retain Other Explanations That Fit Current Price Action
The Complete Decision Process
Lesson / WY-07-31
Begin with the interpretation best fitting current facts while retaining other evidence-based possibilities. A post-decline range may be accumulation or redistribution; a range during an advance may be reaccumulation or distribution. If current behavior cannot distinguish them, remain neutral without forcing directional probabilities.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
9 lessons · Chapter contents
01Use Only Information Available Then and Preserve Trading Records↗02Initial Facts: First Describe What the Market Has Done↗03Retain Other Explanations That Fit Current Price Action↗04How Incremental Evidence Changes Judgment↗05When to Wait, Participate, Cancel, or Replan↗06Confirmation, Rejection, and Cancellation Are Different Actions↗07The Same New Fact Means Different Things When Holding or Flat↗08Evaluate Decision Quality Separately from Trade Outcomes↗09A Complete Decision Process as Price Action Unfolds↗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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Analysis and Trading Decisions Within a Complete Structure
