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Wyckoff Trading Method
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Wyckoff Trading Method

  #1171 (permalink)
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Rock,

On the daily BRCM, looks like it is trying to jump the creek and a markup phase may be coming.

Selling climax on 7/24 (w massive volume) to start accumulation phase.

Shakeout 10/23 (w big volume) made a large demand zone which was tested

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  #1172 (permalink)
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Hawk9 View Post
Rock,

On the daily BRCM, looks like it is trying to jump the creek and a markup phase may be coming.

Selling climax on 7/24 (w massive volume) to start accumulation phase.

Shakeout 10/23 (w big volume) made a large demand zone which was tested

Where do you have "the creek" marked?

Didn't it already jump? The gap up on 12/10 was above the creek and then it re-tested it for support. Or am I wrong with where I marked it?

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  #1173 (permalink)
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Like to see it stay above the massive volume on 7/24.

Got a daily low volume down bar on Friday showing few sellers.

Need to get above 12/10 Supply zone (hi volume).

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  #1174 (permalink)
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Rock Sexton View Post
Where do you have "the creek" marked?

Didn't it already jump? The gap up on 12/10 was above the creek and then it re-tested it for support. Or am I wrong with where I marked it?

You are right, that is a jump over the creek. the next step is to look for a successful retest.

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metobi1 View Post
You are right, that is a jump over the creek. the next step is to look for a successful retest.

I thought that occured on the gap up from December 10th. It re-tested it that day and once again 2 days later. Every time it's rallied and it had rejected the highs, forming candles with upper (distribution) wicks. It has left me somewhat perplexed because chart-wise I never saw the 28.86-28.90 area as resistance.

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Rock Sexton View Post
I thought that occured on the gap up from December 10th. It re-tested it that day and once again 2 days later. Every time it's rallied and it had rejected the highs, forming candles with upper (distribution) wicks. It has left me somewhat perplexed because chart-wise I never saw the 28.86-28.90 area as resistance.

The way I see it is on the attached chart. Aggressive traders enter immediately they notice reluctance to go back to creek jumped over. And put their stops below the demand bar that did the jumping. Conservative traders wait for a demand bar(up bar showing ease of movement with wide spread and comparatively better volume) to appear.

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Wyckoff Trading Method-brcm.png  
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metobi1 View Post
The way I see it is on the attached chart. Aggressive traders enter immediately they notice reluctance to go back to creek jumped over. And put their stops below the demand bar that did the jumping. Conservative traders wait for a demand bar(up bar showing ease of movement with wide spread and comparatively better volume) to appear.

Ya, I guess you're right. The volume on the re-tests of the creek has been meager. No sign of a true demand bar to show buyers re-entering the picture.

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Follow-up (AGCO)

Hello everyone,

Would like to post AGCO chart. Quite confused whether its re-accumulation or distribution. Attach is the annotated chart and
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bbburaot View Post
Hello everyone,

Would like to post AGCO chart. Quite confused whether its re-accumulation or distribution. Attach is the annotated chart and
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My thoughts are on the attachment. Try to think in terms of the balance between buyers and sellers, in every range you encounter, and determine who has the upper hand, hence which direction the market would go.

Always thinking in terms of accumulation or distribution has a way of making one biased towards a direction and for many it makes for refusing to admit error and shifting towards the proper direction. Sometimes it also causes confusion as , everything could point to accumulation in your mind and analyses but the market would sell greatly for a while before going back up.

Markets would ultimately go where they would go, even the heavy investors (smart money) get it wrong many times. So first be sure to understand the concepts of listening to the markets and then look for where the balance shifts always.

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bbburaot View Post
Hello everyone,

Would like to post AGCO chart. Quite confused whether its re-accumulation or distribution. Attach is the annotated chart and
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[IMG]https://futures.io/attachment.php?

Remember a simple concept that will keep you out of trouble: "Price Structure Trumps Everything Else".
... And I mean EVERYTHING else. That includes volume.

Volume is just a supporting cast to price structure.. In the case you reference , price tried to break out of a trading range twice. Both times the break out bar could not close outside of the range even though on higher volume. This is indicative of a Wyckoff spring or failed breakout. It is that simple..

Don't be as concerned about if you get accumulation or distribution correct. Identify when the market is in a trading range or trend and watch how it acts between the interface between the 2 phases...

Hope this helps. Best trading to you.

Wolf


Last edited by Traderwolf; December 20th, 2013 at 09:15 AM.
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