mwf2220 

The chart you showed illustrates one of my principle difficulties with this method, in that I often see distinct patterns on top of each other. I get that the markets are fractal and this is expected, but it adds a layer of complexity that is often missed in explanations of the method. For example, which one of these is the correct interpretation? I've heard that the larger structure takes precedence, but regardless, the downmove at 48.00 towards the right looks weak, so I would say up. Great call on mentioning David (RIP) in this thread - he's the one that got me started with Wyckoff, which I'm just recently trying to relearn. When trading with Wyckoff, do you guys still use point and figure for setting targets?

Usually there are always two interpretations. IMO, it is very good that you can see both arguments. Gary Dayton wrote very extensively about this in his book. He calls it "looking for disconfirmation". Wyckoff traders look for small clues that are not visible to other traders and one can almost always construct both bearish and bullish stories. With time you will develop an intuitive feel that will tell you which clues are important and which can be ignored. Wyckoff tape reading is all about intuitive judgement.

Concerning markings on your chart I'd recommend you not to look for Wyckoff schematics and not try to always mark them on a chart. IMO, in this particular example there is neither buying nor selling climax. Climatic action is an extension of range and volume at the end of a prolonged move. Below is an example of what I'd view as a climactic action.

Quiz #6: answer.

Below is the screenshot of David Weis's answer to the quiz.



Here is TradingView chart of the stock:

Friday trades from Dr Gary Dayton

Sent using the NexusFi mobile app

58LesPaul 

Friday trades from Dr Gary Dayton Sent using the NexusFi mobile appAttachment 321186

Thank you for posting the chart. Gary Dayton uses VSA a lot. I probably would have noticed only the third trade (spring). Makes me thinking whether I should look into VSA

nice looking chart. not to "start" anything here but the chances of Gary Dayton taking trades at ONLY those locations that he marked are less than zero (if there is even such a thing)

buylosellhi 

nice looking chart. not to "start" anything here but the chances of Gary Dayton taking trades at ONLY those locations that he marked are less than zero (if there is even such a thing)

Care to elaborate? Are you saying he will take more than those trades? If so, why do you say that? Sounds like you have some "inside information"!

I have noticed in the Deep Practice sessions that he identifies many more entries than these strict Wyckoff trades.

I wouldn't be surprised if Dayton took more trades than the tweet. He didn't even explicitly say he took the trades to begin with actually.

The purpose of the tweet isn't to point out how he's a great trader, but to show the fundamentals of Wyckoff at play. To paraphrase VSA, if you can see it in hindsight, it's possible to trade it in real-time.

I think that anyone who expects experienced traders to avoid scratches/stop outs is misunderstanding what is possible with VSA/price action trading.

Bermudan Option 

I wouldn't be surprised if Dayton took more trades than the tweet. He didn't even explicitly say he took the trades to begin with actually. The purpose of the tweet isn't to point out how he's a great trader, but to show the fundamentals of Wyckoff at play. To paraphrase VSA, if you can see it in hindsight, it's possible to trade it in real-time.

No, he didn't say whether he took those trades, he was just pointing out Wyckoff setups/trades, which was the purpose of the tweet.

Bermudan Option 

I think that anyone who expects experienced traders to avoid scratches/stop outs is misunderstanding what is possible with VSA/price action trading.

I don't think anyone here thinks this. That is one key to becoming a better trader is to realize you will have losses no matter how experienced you are.

Could've made it more explicit but my response was to the post above yours btw

Quiz #7: up or down?