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Wyckoff Trading Method
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Wyckoff Trading Method

  #1131 (permalink)
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Beans

I'm not confident on the position of soybeans, but it did slam into monthly support with diminished supply. To me it looks like preparation for a move higher, but that does not eliminate the potential for additional downside first. Watch ad see.

D

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  #1132 (permalink)
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Crude Oil

I've always been of the opinion that the powers that be that control oil want to see higher prices in order to create higher profits. That may not necessarily be a valid point of view. Or, maybe it's partially true. I don't know. Anyway, my charts for oil. Big picture the trend is still up, but there seems to be a story for weakness that may continue. I don't have an opinion on the long term direction for oil. In the near term is seems to be headed higher to resistance. If it can break that then the uptrend continues. If not then there may be more downside. The nice thing about this instrument is that we don't really need to know the long term direction to do well. I currently am not trading, but I watch it on a daily basis.

D
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  #1133 (permalink)
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Gap Downs


Hi everyone,

Got a question regarding gap down bars:

1. Gap down with narrow spread and high volume - Sign of strength? How do I confirm?

TIA

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  #1134 (permalink)
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bbburaot View Post
Hi everyone,

Got a question regarding gap down bars:

1. Gap down with narrow spread and high volume - Sign of strength? How do I confirm?

TIA

Most high volume bars will be tested. If smart money (SM) or professionals want to mark this stock up, they want to be sure there is no floating supply around. So, SM will test it. You can recognize test as price falling back to area of high volume bars, but on smaller and diminishing volume, and on shrinking bar spreads. Ideally this test will stop little higher than the bottom of high volume down bar.

So, when I see such high volume bar I do nothing, it is only signal to pay attention. It is potential sign of strength. Then I wait for low volume tests.

This chart is not gap down, but the principle is the same (selling climax in this example). You can see that high volume bars are being tested several times on lower and lower volume - SM is testing if there is any floating supply left. When pros are sure that there is no supply on their way they easily mark prices up.

siks

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Wyckoff Trading Method-ge-accumulation.png  

Last edited by siks; November 7th, 2013 at 05:46 AM. Reason: added chart
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Time Frames & Trading Styles

Hi everyone,

I would like to ask for your take on what is the optimal time frame on the ff strategies when analyzing charts so you can easily spot and confirm signs of strength and weakness:

1. Swing trade
2. Scalping

How many bars/candlesticks do I put on a chart? TIA

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  #1136 (permalink)
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bbburaot View Post
Hi everyone,

I would like to ask for your take on what is the optimal time frame on the ff strategies when analyzing charts so you can easily spot and confirm signs of strength and weakness:

1. Swing trade
2. Scalping

How many bars/candlesticks do I put on a chart? TIA

Time frames will depend on you and how you want to trade. The concepts and indications show up on all time frames. Gary Dayton uses Tick charts to trade the ES and will use a 3K, 9K and maybe a 27K tick chart to daytrade. For Swing you may want to use Daily, weekly and or monthly charts. Ive attached two charts. One is the 60 minute YM and the other a 5 Minute GC. The YM is in a uptrend and GC you could say is down trending on the daily and these lower time frame charts show how following the higher time frame can help.

D

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Wyckoff Trading Method-dow.png   Wyckoff Trading Method-gc.png  
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Siks chart is very good. Some other nuances as well worth looking for.

D
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  #1138 (permalink)
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POT

I guess POT is in accumulation, please share your comments, thanks

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  #1139 (permalink)
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supermht View Post
I guess POT is in accumulation, please share your comments, thanks

Having a wave with volume on this chart shd make it a lot clearer. Sadly I dont have that yet so I have marked it as I believe the waves occured. I labelled the vertices, so what I see as the waves unfold can be shown.

The first thing that srceams out is a wide up bar, wider than any before it on this chart closing on the highs, with volume more than 6 times anyother that can be seen on this chart.
This looks like serious selling into week hands at the end of a trend given what has occured till now. Note the volumes following subsequent up waves and down waves. As market rises we see what looks like cummulative high volume that drops immediately the waves turn down.

The current range is on top of the range that stopped the down move, as shown by the black line I added.

Note the time taken for the up waves in comparison with down waves, going up seems easier and faster than coming down.

All that can be observed says to me that the market is shaping up for a new long term up trend, as it has taken 4 months already.

The spring that occured between M and N is a test back down that seemed to bring out sellers, possibly some formerly trapped around those areas and others adding to their sells reasoning the market will turn down.

It appears to me that market is ready to go up, because after a good range in which maket appears to have been pressed down and made dull, a probe sent back down as a test and a false breakout was retested without following (volume- successful retest).
Market is now running up on low volume, If at this stage of going up volume is still high then I would look out for shake outs for an up trend to start.

The current market action in my opinion looks encouraging for any would be buyer to step in with stops below the last test area.

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Shakeout/Spring & Tests?


Hi everyone,

Here is a chart on xlnx. Looks like there is background strength.

1. Circle - Are there signs of distribution?
2. Look at the first arrow. Is this a shakeout/spring? Is the gap down part of the "spread"?
3. Are the next two arrows show a failed test? TIA

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Wyckoff Trading Method-xlnx.png  
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