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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action
That's was the reason for my question. If you look at volume during the rally up to the supply line, it occured on decreasing volume (lack of demand) also clear on your tick chart. In the heat of the moment, specially after identifying a change of behavior and the distance to the 1st swing low as potential target (more than 2 pts) or even more if you consider a potential 1:1 projection (measured move) i don't quite understand why you think it was not a good invitation to short? I must be missing something. Thanks for your previous reply.
@trendisyourfriend
Background conditions, climatic behaviour in a previous area of demand is too much strength from my perspective, all the proceeding price action is too close for comfort. This method is discretionary - well experienced Wyckoff traders tend to trade springs in many different ways and that's one bar. Weakness in my minds eye; are small narrow spreads, closing mid bar, volume decreasing, choppy price bar overlap etc. I don't see this. If the change of behaviour wave breaks through the apex decisively we have additional signs of major weakness, but this area holds with climatic behaviour and weak selling, I need more data. If you see a trade excellent.
Wyckoff and VSA principles at play in today's action:
Shortening of the thrust
Change of Behaviour
Upthrust (untradeable)
Upside shakeout
Hidden selling
Effort Vs. Result
New momentum low (setup) Incorporating many Wyckoff principles
Wyckoff and VSA principles at play into today's action:
Wyckoff Analysis - Compare and contrast
Climatic bar
Waves
Change of behaviour
Classic momentum setup (pullback in a uptrend, using structure)
No demand in a previous area of supply setup
