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Wyckoff Trading Method
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Wyckoff Trading Method

  #1191 (permalink)
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bbburaot View Post
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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I think you are correct. Of course in hindsight we know it's accumulation because it broke out of that trading range to the up side. It's over 20 months in that range. I think we have to expect reaching the prior area where price broke down at a minimum.

There is selling in the bars that you indicate as up thrusts. How else would they close on the lows, but in context it's just profit taking. To be an up thrust you need to have an established resistance level in place that price moves away from and comes back to it. You need some time to elapse as well. It may take on the look of an elongated U.

Taking a Broader view is good. Dayton calls it softening your focus. Don't get caught up on zeroing in on the last few bars on the chart. Background and context first.

D

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  #1192 (permalink)
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If you'd like a good seminar on the up thrust or spring, Gary Dayton offers a recorded seminar on each. Each seminar is 2 or more hours. I'm not affiliated to him an don't benefit at all. I'm just suggesting/recommending them because I've seen them and think they are very good. It's also very difficult to find info on these specific aspects. He covers what is and isn't an up thrust/spring, what to look for and when to trade them.

D

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  #1193 (permalink)
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Anyone care to comment on this NLY chart?

There was a sell climax in November, at which point it conducted a secondary test for supply down to 9.66. It has since moved up and tested 10.30 (creek) 3 times and is currently trading above the level of the sell climax, which I naturally assume means professionals have been buying.

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  #1194 (permalink)
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Rock Sexton View Post
Anyone care to comment on this NLY chart?

There was a sell climax in November, at which point it conducted a secondary test for supply down to 9.66. It has since moved up and tested 10.30 (creek) 3 times and is currently trading above the level of the sell climax, which I naturally assume means professionals have been buying.


I'm quite new and in process of learning Wyckoff method. Looks like a selling climax and will undergo a mini rally. But will need to see in the next 1-3 day bars what will unfold before taking a position. Here's my take based on what I have studied so far:
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  #1195 (permalink)
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Hello Everyone,

Would like to ask for your help in terminology. Can you define "dead center"? Please do show present chart examples. Thanks!

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  #1196 (permalink)
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bbburaot View Post
I'm quite new and in process of learning Wyckoff method. Looks like a selling climax and will undergo a mini rally. But will need to see in the next 1-3 day bars what will unfold before taking a position. Here's my take based on what I have studied so far:
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Thanks for taking the time out to give me your opinion. I assumed the same as you, that the activity taking place on the Nov.28th sell climax represented strength within weakness. Then you have the fact that clearly price is trading above the high of the bar on that climax. There was another 30 million in volume on the sell side of the 19th, but once again price has moved above that high of that bar as well.

My retracement target is close to what yours is. I use volume profile to determine previous most active prices, but that's neither here not there since it's not Wyckoff related.

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  #1197 (permalink)
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Rock Sexton View Post
Anyone care to comment on this NLY chart?

There was a sell climax in November, at which point it conducted a secondary test for supply down to 9.66. It has since moved up and tested 10.30 (creek) 3 times and is currently trading above the level of the sell climax, which I naturally assume means professionals have been buying.

Hope you don't mind. I took the liberty of going down to one hour time frame to check this security. So far I am loving the buildup that seems to really point to accumulation about to yield.
Caution is very relevant in trading it as usual, because when many people give such beautiful analysis and they all seem to align, anyone taking a trade may become complacent and get careless. Remember the market has the final say.

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  #1198 (permalink)
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metobi1 View Post
Hope you don't mind. I took the liberty of going down to one hour time frame to check this security. So far I am loving the buildup that seems to really point to accumulation about to yield.
Caution is very relevant in trading it as usual, because when many people give such beautiful analysis and they all seem to align, anyone taking a trade may become complacent and get careless. Remember the market has the final say.

Thanks for the input. My assessment was the same as yours. I like to get other opinions though just to identify if I'm missing any steps.

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  #1199 (permalink)
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This is my first post on this site, but I do trade via the Wyckoff method. On NLY, the overall price structure on the daily and weekly charts is bearish IMO. If you play a long here, I don't know that it will break the 10.60-10.80 level, which is where primary bearish trend line resistance lies and also 50 day EMA resistance.

The selling climax doesn't have a long shadow, and the paltry move up on increased volume could be absorption (selling) rather than buying. If I was going to buy here, I'd do it with a short-term mindset and before taking that position I'd want to see more basing (accumulation) to fuel the move up. JMO.

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ukdesi View Post
This is my first post on this site, but I do trade via the Wyckoff method. On NLY, the overall price structure on the daily and weekly charts is bearish IMO. If you play a long here, I don't know that it will break the 10.60-10.80 level, which is where primary bearish trend line resistance lies and also 50 day EMA resistance.

The selling climax doesn't have a long shadow, and the paltry move up on increased volume could be absorption (selling) rather than buying. If I was going to buy here, I'd do it with a short-term mindset and before taking that position I'd want to see more basing (accumulation) to fuel the move up. JMO.

would you mind postig a chart?

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