We discussed this in chat today, and it probably has nothing to do with duration, etc, but with the kind of activity commonly found at or around the mean. If you look at the June trend channel, the mean is around 63. Well, guess what? They now seem to be done with their business and have moved on. We'll see what happens overnight.
IMPORTANT NOTICE FOR CHAT MEMBERS. Given that the chat was opened to discuss the Straight Line Approach, and in order to avoid confusion to some lurkers, as of tomorrow we will be opening a new chatroom. This one will have 4 prerequisites in order to be invited: 1. You MUST be interested in the SLA approach, if you wanna trade indicators or other kind of method, this is just not for you so don't waste your time. 2. You MUST be interested in doing the homework, this is not about fetching a bone from senior traders and trying to find shortcuts, If you wanna become a trader you have to be interested in putting in the work. That means starting with opening a journal. 3. You have to read at least the 10 first posts in the SLA threads, we will know you have given on what you post in your journals and what you ask in the chat. So please do. 4. If at the end you decide that SLA is not for you that is OK, but if you wanna be in the chatroom you have to talk SLA in the Chat and your journal must be SLA, or else what is the point. Only 4 rules, and that is it. If you are interested, open your journal and explain what YOU understand of SLA and how do you plan to apply it, I will PM you the link. Those who only want to lurk will be considered on a case by case basis, I don't wanna encourage passive learning, as I don't think that is the way to go. But if you just wanna watch PM me.
After 4000 posts, whatever might be asked has surely been asked, and, at some point, like this one, the trader must move on to the application, and this requires a journal of some sort, either public or private, either written by hand or on a computer. Therefore, I encourage those who are interested in this to open journals and begin the deliberate and methodical tasks of hypothesizing, backtesting, forwardtesting, simming, and trading. The first post of the Ghost thread tells you exactly which posts will bring you up to speed. There are fewer than 40. Inevitability there will always be questions since everybody is different with unique circumstances and plans. Those questions can be asked in the Ghost thread. This thread, however, like the first two, will be closed. Though there will be those who will read all 4000 posts, most will not, but both groups will benefit from opening journals and beginning the process of becoming a successful trader.