Step 1: Identify the call - a down direction only with a speaker-set invalidation level.
Step 2: Apply the rule for down calls - STOPPED OUT if the daily high reaches or exceeds the invalidation level before the deadline (mirror of the up-call rule).
Step 3: Check the price action - the highest price since the call went above the invalidation level prior to the deadline.
Step 4: Because the high hit the invalidation level first, the verdict follows the rule and is recorded as STOPPED OUT.
“Up with a target: HIT if the daily high reaches the target before the deadline; STOPPED OUT if the low hits the speaker's own invalidation level first; MISS if the deadline passes without the target. Mirror for down calls.”