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Wyckoff Trading Method
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Wyckoff Trading Method

  #1151 (permalink)
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Trend Line

Hi everyone,

I'm starting to learn drawing trend lines. This will help identify support and resistance levels. Let me know your take on this. Annotated chart is AIG. TIA

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  #1152 (permalink)
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bbburaot View Post
Hi everyone,

I'm starting to learn drawing trend lines. This will help identify support and resistance levels. Let me know your take on this. Annotated chart is AIG. TIA

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A trend line should be the one that best tells the story of the angular movement of the market, and the lines (channel) you drew does, so I believe you did a splendid job.

You might want to allow the lines to start from the edges prefarably from the start of the trend. It sometimes has better accuracy. Overall though I think discretion born from personal experience/observation, is the best. I have attached how I would draw the trend line plus support and resistance areas.
This market doesn't appear to have gone trough any preparation for a long term down move, except it further develops. Dont forget that wychoff viewed gaps as part of the bar formed immediately after.

Attached Thumbnails
Wyckoff Trading Method-aig.png  

Last edited by metobi1; November 25th, 2013 at 07:08 AM.
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  #1153 (permalink)
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siks View Post
Whenever you are in doubt if stock is in distribution or re-accumulation help yourself with 9 Wyckoff test. I attached them several pages ago and there are discussions on these tests in other threads as well.

As you will see from 9 Wyckoff tests Point & Figure charts (or just Figure charts as Wyckoff calls them) are integral part of analysis. Figure charts helps you to more easily perceive important accumulation and distribution areas and to determine if tops or bottoms are reached.

When I am analyzing stocks I first look at Figure charts (mostly 3pt and 1pt charts). I don't even open Vertical charts (bar charts with volume) or consider position in certain stock if Figure charts don't look interesting.

siks

Thanks! Reading and learning P&F. I have another question. When constructing/analyzing P&F chart, how do you determine "1 point"? 1 dollar or 1%? How is 1 point related to the price?

1. If stock #1 has a price of 15, 1 point up would be 16?
2. If stock #2 has price of 60, 1 point up would be 61?
3. If stock #3 has price of 175, 1 point up would be 176?
4. If stock #4 has price of 3, 1 point up would be 4?

TIA


Last edited by bbburaot; November 25th, 2013 at 01:05 PM. Reason: Addendum
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  #1154 (permalink)
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bbburaot View Post
Thanks! Reading and learning P&F. I have another question. When constructing/analyzing P&F chart, how do you determine "1 point"? 1 dollar or 1%? How is 1 point related to the price?

1. If stock #1 has a price of 15, 1 point up would be 16?
2. If stock #2 has price of 60, 1 point up would be 61?
3. If stock #3 has price of 175, 1 point up would be 176?
4. If stock #4 has price of 3, 1 point up would be 4?

TIA

The same question bothered me at the beginning

1 point = 1 dollar

Yes, you answered correctly to all 4 examples.

90% of stocks that I follow are between 10$ and 60$. For them I use 3pt reversal figure chart for longer term view and 1pt reversal for shorter view. For high priced stocks like AAPL and GOOG you can use 5pt reversal figure chart. I avoid stocks cheaper than 10$.

Just configure your platform with this inputs. This is how I configure my MC (3pt reversal).

One note - Wyckoff draws figure charts little different than modern softwares these days (https://futures.io/elite-circle/27158-wyckoff-point-figure-charting.html).

siks

Attached Thumbnails
Wyckoff Trading Method-fig-chart-settings.png  
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  #1155 (permalink)
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ADI - Signs of strength or weakness?

Hi everyone,

Whats your take on this stock ADI? Signs of weakness or strength? I also have some questions on the chart. Please let me know your take on this. TIA
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  #1156 (permalink)
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bbburaot View Post
Hi everyone,

Whats your take on this stock ADI? Signs of weakness or strength? I also have some questions on the chart. Please let me know your take on this. TIA
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My take on ADI per the chart. I've added Wave volume to see if that helps. Could be supply entering, but the big down bar had news associated with it. It did recover to close near the high. There is shortening of the thrust as well. seems like we would need to see more evidence to make a call. Follow through to the down side if it is weakness.

As far has high volume bars that don't really go anywhere, at a low that could be bag holding as weak holders sell and the pros buy up the shares. The opposite at a high would be pros selling into the buying. I find it difficult to just focus on one extreme entity such as one ultra high volume bar. The context is key in all of this. I hope this was of some help. I find the chart difficult to call at this point in time.

D
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  #1157 (permalink)
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David_R View Post
My take on ADI per the chart. I've added Wave volume to see if that helps. Could be supply entering, but the big down bar had news associated with it. It did recover to close near the high. There is shortening of the thrust as well. seems like we would need to see more evidence to make a call. Follow through to the down side if it is weakness.

As far has high volume bars that don't really go anywhere, at a low that could be bag holding as weak holders sell and the pros buy up the shares. The opposite at a high would be pros selling into the buying. I find it difficult to just focus on one extreme entity such as one ultra high volume bar. The context is key in all of this. I hope this was of some help. I find the chart difficult to call at this point in time.

D
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This Chart is trully not giving a neon sign of what is going on. But it does show a few behavioural changes, that well may be enough to take a dive. These changes/......... are on the chart. A daily wave chart would show more in terms of Cummulative volume/ Buying and selling waves.

Attached Thumbnails
Wyckoff Trading Method-overall-look-adi.png   Wyckoff Trading Method-former-behaviour-resistance-points.png   Wyckoff Trading Method-closeup-current-bars.png  
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Can We Confirm CO Intent on Higher Time Frames?

Hi Everyone,

Usually we go into lower time frames to see what is going on in the bar. Like peeping through a microscope. Can CO intent be spotted on higher time frames when it's not clear on lower time frames? Here is a chart of JCP on different time frames (Daily, weekly, monthly)... TIA

Attached Thumbnails
Wyckoff Trading Method-jcp-daily.png   Wyckoff Trading Method-jcp-weekly.png   Wyckoff Trading Method-jcp-monthly.png  
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  #1159 (permalink)
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Would anyone care to break down WLT for me? Specifically on the 15min and 60min charts....

I took a trade there yesterday on the break of 14.68 and based on my analysis (which is an amalgam of Auction Theory/VSA/Wyckoff/Divergence) I felt 15.80 was an acceptable target. The stock moved up to the 14.97 level and pulled back relatively hard off of the highs, but I liked the way it recently had defended the 14.08 (if you look at a 15min) so I wanted to let it breathe.

Everything looked fantastic at the opening today(12/5). They made buyers chase on a wide spread on the bid/ask and quickly the stock moved up to the 15.09 level. It rejected it as quickly as it got there. Frustrated and impatient, I stopped out of my position for a tiny -4 ticks at 14.65. I really didn't think there'd be that much resistance there, albeit it appears in hindsight to be an upper trend line of a newly formed channel over the past couple days.

Did anyone see a potential trade here? If so, what would have been your targets? Any insight is appreciated.


Last edited by Rock Sexton; December 4th, 2013 at 09:27 PM.
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  #1160 (permalink)
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Rock Sexton View Post
Would anyone care to break down WLT for me? Specifically on the 15min and 60min charts....

I took a trade there yesterday on the break of 14.68 and based on my analysis (which is an amalgam of Auction Theory/VSA/Wyckoff/Divergence) I felt 15.80 was an acceptable target. The stock moved up to the 14.97 level and pulled back relatively hard off of the highs, but I liked the way it recently had defended the 14.08 (if you look at a 15min) so I wanted to let it breathe.

Everything looked fantastic at the opening today(12/5). They made buyers chase on a wide spread on the bid/ask and quickly the stock moved up to the 15.09 level. It rejected it as quickly as it got there. Frustrated and impatient, I stopped out of my position for a tiny -4 ticks at 14.65. I really didn't think there'd be that much resistance there, albeit it appears in hindsight to be an upper trend line of a newly formed channel over the past couple days.

Did anyone see a potential trade here? If so, what would have been your targets? Any insight is appreciated.

WLT? could you post a screen shot

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