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Wyckoff Trading Method
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Wyckoff Trading Method

  #1181 (permalink)
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Traderwolf View Post
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

that simple concept is misleading.

Volume represents trading activity, especially around support and resistance area, it will tell you if the trend continues or stops, volume can confirm or modify what you get from price action....

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  #1182 (permalink)
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supermht View Post
that simple concept is misleading.

Volume represents trading activity, especially around support and resistance area, it will tell you if the trend continues or stops, volume can confirm or modify what you get from price action....

My point exactly.. volume is a supporting character to price structure. There can be many other supporting characters to price structure depending on personal preference...

Best Trading..

Wolf

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  #1183 (permalink)
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metobi1 View Post
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.


Traderwolf View Post
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


Thanks. I was so ingrained on accum/distr not recognizing the trading range. I need more practice and develop intuition.

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  #1184 (permalink)
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this stock

I am following this stock, current situation looks like end of accumulation, but that huge volume selling bar bothers me, I haven't entered yet, perhaps the safe trade would be JOC retest, I 'll see if it could break 11.00 level, then trade its pullback

this is weekly chart.

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supermht View Post
I am following this stock, current situation looks like end of accumulation, but that huge volume selling bar bothers me, I haven't entered yet, perhaps the safe trade would be JOC retest, I 'll see if it could break 11.00 level, then trade its pullback

this is weekly chart.

What's the stock symbol for this?

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  #1186 (permalink)
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bbburaot View Post
What's the stock symbol for this?

oh, forgot mentioning that, this is a china stock, symbol is 300112

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supermht View Post
oh, forgot mentioning that, this is a china stock, symbol is 300112

Dont have a chart on this. A successful test would be your best bet.

I watched a stock before. I thought at first it was an upthrust. But turned out to be accumulation. Here's JKS chart.

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  #1188 (permalink)
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bbburaot View Post
Dont have a chart on this. A successful test would be your best bet.

I watched a stock before. I thought at first it was an upthrust. But turned out to be accumulation. Here's JKS chart.

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Just because a bar looks threatening does not mean it is. Up thrust bars are good in down trends like springs are good in up trends. There is no weakness in the chart. The structure is a strong up tend, so no reason to think shorts as a longer term trade.

When I took Gary Dayton's chart reading course he drilled in to us that "structure trumps all". The look of one bar is not enough to make a call.

D

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supermht View Post
I am following this stock, current situation looks like end of accumulation, but that huge volume selling bar bothers me, I haven't entered yet, perhaps the safe trade would be JOC retest, I 'll see if it could break 11.00 level, then trade its pullback

this is weekly chart.

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I think that if the high volume down bar is bearish you should have follow through to the downside. So far it has not. Structure seems to changing with HH and HL. It could still take time to play out. I think best thing would be to define a couple scenarios. For example, go long if you get a spring, or wait on JAC and retest as you mentioned. Or, if it breaks down below ice them maybe a short. Make the game plane and wait.

D

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David_R View Post
Just because a bar looks threatening does not mean it is. Up thrust bars are good in down trends like springs are good in up trends. There is no weakness in the chart. The structure is a strong up tend, so no reason to think shorts as a longer term trade.

When I took Gary Dayton's chart reading course he drilled in to us that "structure trumps all". The look of one bar is not enough to make a call.

D

You're right. Here's the bigger picture. 3yr chart. The upthrust wasn't selling here. Let me know if my analysis is correct.
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