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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action


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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action

  #371 (permalink)
 Feibel 
Surrey, UK
 
Posts: 215 since Jun 2017


kulu View Post
Hey,

Any thoughts about David Weis' Mentoring?

Thanks and happy Friday!

David Weis I would say is the worlds leading expert on Wyckoff (not pure Wyckoff) Davids interpretation heavily revolves around the buying and selling pressure within waves, his level of understanding is pure genius. As for his mentoring I couldn't comment; although I have been fortunate to have spoken with David a few times over the years, he is incredibly kind with his time and will happily share his insights. Last time we spoke I believe he was tinkering with Renko bars along with the Weis Wave, and there is much value to be found within that partnership (very high odd trades; but that's another story)

When picking a mentor, it is very important that you are on the same page, and like the way information is presented to you. My suggestion would be to read his book ''Trades About to Happen'' and take it from there.

Hope this helps,

F


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  #372 (permalink)
 Feibel 
Surrey, UK
 
Posts: 215 since Jun 2017


Olgrim View Post
Very useful information.
In the volume wave indicator on tick charts are you interested in the volume per price swings that coisides with your specific structure waves? So you adjust accumulation rate in the indicator for every specific situation. Of course accumulation for a longer swing should create higher wave. Short swing - small volume wave. This can be misleading. How can you compare price wave and volume waves abnomality? Or you compare similar leangh and angle of swings.

Are smaller waves within larger waves important to you?
So you focus more on development of volume accumulation within larger price swings. Kind of like breaking it down.
I think both information are useful. I use both. With all this information it is very easy to miss something obvious on regular charts.


The wave volume is constructed cumulatively. There is a retracement setting for the flip; I use 0.75 ticks for the 5m and 3500 tick chart. For a daily time frame you may use 1.5 to 2.00 points retracement, depends on how you like to view the market. The setting is never adjusted.

Here is a quote from Wyckoff, this is how I use wave volume:

“But you must always be on the lookout for a change in this immediate trend … This is how you detect the change: In an uptrend, when the selling waves begin to increase in time and distance, or the buying waves shorten. Either or both will be an indication of a change in the immediate trend. Apply the same reasoning to a down trend.” Richard D. Wyckoff, A Course of Instruction in Tape Reading and Active Trading.

Good question,

F

  #373 (permalink)
 
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 Olgrim 
Newark, nj
 
Experience: Beginner
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Feibel View Post
Please find PDF attached.

Excellent questions and contributions from others, thank you.

F

Feibel: << The channel was constructed in the normal manner for a downtrend; highs first then add the parallel. Structure in the methodology found within the Chronicles is extremely important; I place a great deal of emphasis on these levels, for they are areas where the forces of demand and supply are checked by the opposing force, and either disconfirm or confirm the presence of buying or selling.>>

How do you shape your range of your trade?
Price may break your range or may not even touch your demand/supply line. What do you do? Is it "trade and stop" or "trial and error" process? What if the price keeps disconfirming your initial volume/price analysis? I am more interested in the real process of forming your trade.

After either demand line or supply line is disconfirmed by price (or stopped if in trade) we look again at the volume/price, searching another clues. You ended up constantly being in the process of searching for perfect play. You can't afford too many attempts in real trading. Too costly.

Say, for ES past Fri. 27 of Apr. - tough day. Near perfect apex formation. (see attached). It looks like a test of supply to me on the daily chart, isn't it? My initial assumption was bullish, planning a bullish play, break of the apex. Ended up nowhere -

Thank you very much for your time.

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  #374 (permalink)
trader14
Denver, CO
 
Posts: 39 since Apr 2014
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kulu View Post
Hey,

Any thoughts about David Weis' Mentoring?

Thanks and happy Friday!



When I first started learning Wyckoff, I attended two seminars presented by both David Weis & Gary Fullett and would recommend either one as a mentor. In my opinion there are only two leading experts on Wyckoff. David Weis being one as Feibel mentioned and Gary Fullett. For pure Wyckoff I’d highly recommend Gary as a mentor at LTG-Trading.com.

Best of luck on your choice

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  #375 (permalink)
 Feibel 
Surrey, UK
 
Posts: 215 since Jun 2017

Wyckoff and VSA principles at play into today's action:

Structure
Hidden Upthrust (setup)
Apex
Confluences
Reversal (setup)
No demand (setup)

and a volume action aberration

PDF attached (2 pages)

Attached Thumbnails
The S&amp;P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action-es300418-1.pdf  
  #376 (permalink)
 
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 Rrrracer 
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Feibel View Post
The wave volume is constructed cumulatively. There is a retracement setting for the flip; I use 0.75 ticks for the 5m and 3500 tick chart. For a daily time frame you may use 1.5 to 2.00 points retracement, depends on how you like to view the market. The setting is never adjusted.

Any advice on how to go about setting it for different markets?

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  #377 (permalink)
 Feibel 
Surrey, UK
 
Posts: 215 since Jun 2017


Rrrracer View Post
Any advice on how to go about setting it for different markets?

A very expansive question: unfortunately its a matter of personal interpretation, through trial and error. Dependent on how one wants to perceive price through waves, and of course is timeframe dependent.

Can happily share the settings that are used for intraday purposes, as the swing trading settings are primed for larger moves

ES 5m 0.75
CL 5m 0.05
6B 5m 0.0003 (all currency futures excluding 6J)
GC 5m 0.5
NQ 5m 0.50

Stocks anything between 10c or 20c

Hope this helps,

F

  #378 (permalink)
 
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 Rrrracer 
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Feibel View Post
A very expansive question: unfortunately its a matter of personal interpretation, through trial and error. Dependent on how one wants to perceive price through waves, and of course is timeframe dependent.

Can happily share the settings that are used for intraday purposes, as the swing trading settings are primed for larger moves

ES 5m 0.75
CL 5m 0.05
6B 5m 0.0003 (all currency futures excluding 6J)
GC 5m 0.5
NQ 5m 0.50

Stocks anything between 10c or 20c

Hope this helps,

F

Thanks buddy. I'll mess around with it on one of my tick charts... I trade 6E, largely on a M5. Do you also find it useful on time based charts?

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  #379 (permalink)
 Feibel 
Surrey, UK
 
Posts: 215 since Jun 2017

Wyckoff and VSA principles at play in today's action:

Upthrust (setup)
Hidden Upthrust (setup x 2)
Structure
Oversold Conditions
Multiple Time Frames
Effort vs. Result
No demand?

and a volume aberration

PDF attached (2 pages)

Attached Thumbnails
The S&amp;P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action-es140518-1.pdf  
  #380 (permalink)
 
Rrrracer's Avatar
 Rrrracer 
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Good to see you back in action @Feibel, nice analysis. Hope all is well with the little one!

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