The direction gets decided by the large speculators by either taking a loss or by reversing their positioning (cross & stay on the new side of 0).

The hedgers don’t get any decision rights.

Their ability to go into a paper draw down without limits guarantees to not be the one having to stop out. They don’t ever blink first.

Once the loss is taken by the speculators, they get to write off those contract-burdens which increases their account size. On top of this they have a steady stream of income from every transaction.

The loss taken thus shows up as a divergence in the price movement and the holding size – this is the starting point of unraveling that goes on until 0 on balance holdings remain in the hand of the speculators.

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Other. I need to ditch habbits like closing out core holdings before the 3rd cancellation and develop the habbit of marking them up along with the anchor highs & lows and adding a reminder of 3/60 every time. New virgin level made at 1.0852

Today closing out 2.2 lots of core (hedge) holdings for a total of $16 let me endure a $750 draw down unnecessarily. This is why obeying the count and sticking with the anchor provided direction is a must.

The one yellow is in place, two plums up on the histogram and the 3/60 anchor low would be made.

Hedge shorts, $350 left on the table just by not touching anything today – and most other days.

I got myself paranoid instead of counting to 3.

…anchor low made. There is no better system out there.