Wyckoff Trading Method - Traders Hideout | futures io social day trading
futures io futures trading


Wyckoff Trading Method
Updated: Views / Replies:236,777 / 1,384
Created: by David_R Attachments:696

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 696  
 
Thread Tools Search this Thread
 

Wyckoff Trading Method

  #1221 (permalink)
Trading for Fun
Lagos, Ikeja. Nigeria
 
Futures Experience: Intermediate
Platform: MT4, NinjaTrader
Favorite Futures: Forex
 
Posts: 55 since Apr 2012
Thanks: 13 given, 62 received


ukdesi View Post
Well I think I understand your viewpoint---you look for profitable trading conditions, regardless of time frame. You trade what you see in the present, and I would assume you assess the risk-reward of every trade as well. If that's you, then all of that makes a lot of sense. My interest here is discussing the wyckoff/range analysis of assets. Your intraday analysis of NLY that you posted earlier was a thoughtful analysis. I understand where you're coming from.

I think you sum it up too nicely, but yes that is what I try to do, and as soon as I start live again, this january, Ill attempt to post my trades in my journal

Risk reward, that is my number one Achilles heel for now, happily though I think I am starting to be better at it

I think we share the same interest, even though mine is a little more selfish, in that when I share, I give it my best so that when wrong and I am corrected I learn fast. So you could say I am sharing primarily to be proven right or wrong and improve. I like a how and why i.e with chart posts when anyone feels I might be mistaken in my analysis. That helps tons with the learning process, and I try to do the same.


ukdesi View Post
Your intraday analysis of NLY that you posted earlier was a thoughtful analysis. I understand where you're coming from.

Thank you, your too kind

Reply With Quote
The following user says Thank You to metobi1 for this post:
 
  #1222 (permalink)
Trading for Fun
Lagos, Ikeja. Nigeria
 
Futures Experience: Intermediate
Platform: MT4, NinjaTrader
Favorite Futures: Forex
 
Posts: 55 since Apr 2012
Thanks: 13 given, 62 received


Rock Sexton View Post
Thanks again guys for you participation. I'm trying to clean up some thing when it comes to my analysis on longer termed charts. What about your thoughts on MPO?

A major long term trend line was broken on what looks to be a legitimate SOS demand candle/bar. It has based nicely ever since. At this point the sell climax looks to have been nothing but a shakeout as it is back trading within the range prior to the drop. The pattern in the background looks to be an inverse head and shoulders with a head to neck measurement of 4.26 to 6.62, which theoretically would yield a breakout back to the longer termed creek.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Well I no next to nothing about inverse head and shoulders, so I can't comment on that, But I can see that a support formed since Nov 2012, with what appeared to be a buying climax, followed by an auto rally.

When price goes back to support we see a massive volume on a long bar followed by a seriously shrunk bar with higher volume (this I think is called bag holding- meaning all the sell orders are being absorbed by the buyers who don't want lower prices).

That crazy volume up with the buying bar that forms the new resistance looks suspect (seeing the former resistance to the left where massive volume and selling bar broke gives reasoning), price shrinks when it trys to go lower and volume is lower.

A spring reaching 4.79 moves price to break the upper resistance (creek), price then flattens on attempt to return lower with the volume tending to drop as price trys to move lower. At the price that reaches 5.28, the effort had no result and the second time price goes low it shrinks with its volume.

Summary of positives.

Temp support formed that held and had a significantly positive interaction with price when tested.

Overall price flattened.

Downward angle broken

Verdict - Ill say the current outlook is bullish with buying done as fits the niche/ trade plan.

Attached Thumbnails
Wyckoff Trading Method-mponew.png  

Last edited by metobi1; December 27th, 2013 at 07:04 AM.
Reply With Quote
The following user says Thank You to metobi1 for this post:
 
  #1223 (permalink)
Trading Apprentice
Charleston, WV
 
Futures Experience: Advanced
Platform: tradestation
Favorite Futures: FX
 
Posts: 12 since Dec 2013
Thanks: 0 given, 11 received


OK sounds good. I will say that being proven right or wrong is pretty subjective because you aren't actually managing a trade. In the case of NLY, let's say you buy at 10 bucks and it bolts up to 10.80 or 11, but then you never take profits and it quickly reverses back down--in that case you were correct in your analysis but you didn't exit properly and so the trade wasn't all that profitable. Some of the reasons I wouldn't be interested in a long play on NLY include risk-reward, stop placement, and opportunity cost. Where do you put your stop-below 9.66? You might get a 2 to 1 RR out of that, but those are tight parameters, and so that's where opportunity cost comes into play---is this stock, out of all the stocks out there, really where I'd want to put a certain percentage of my account at risk?

Reply With Quote
The following 2 users say Thank You to ukdesi for this post:
 
  #1224 (permalink)
Trading Apprentice
Charleston, WV
 
Futures Experience: Advanced
Platform: tradestation
Favorite Futures: FX
 
Posts: 12 since Dec 2013
Thanks: 0 given, 11 received


Rock Sexton View Post
Thanks again guys for you participation. I'm trying to clean up some thing when it comes to my analysis on longer termed charts. What about your thoughts on MPO?

A major long term trend line was broken on what looks to be a legitimate SOS demand candle/bar. It has based nicely ever since. At this point the sell climax looks to have been nothing but a shakeout as it is back trading within the range prior to the drop. The pattern in the background looks to be an inverse head and shoulders with a head to neck measurement of 4.26 to 6.62, which theoretically would yield a breakout back to the longer termed creek.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I like MPO. It failed yesterday at major trend line resistance, but overall looks poised to go up. I'd consider an entry at the creek or on a pullback to trend line support (around 6 bucks). I like the volume coming in at support there---appears to be buying. From a relative strength perspective, I think oil stocks are doing pretty well right now too (xom or cvx, for example).

The primary con here is that we are still really in a downtrend. Current level at 6.50 is a line in the sand--represents the last swing high in the downtrend, and we haven't taken out this swing point yet. My ideal accumulation bases will take out these swing points and then continue basing horizontally to build a cause to move up. Regardless, if I had to predict, I'd say MPO will move up to the top of the range to about 9 bucks--at that point it could go back into the range or it could keep going, hard to say. Check out BSX on the daily in early 2013 as an example of similar type of range--in that case the breakout kept on going.

I could probably make a decent case for distribution here, so even though I'm bullish on this stock, I probably wouldn't trade it because there are other stocks in which I can't make that case.

Reply With Quote
The following 2 users say Thank You to ukdesi for this post:
 
  #1225 (permalink)
Trading for Fun
Scottsdale
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
Posts: 120 since Feb 2012
Thanks: 33 given, 96 received


ukdesi View Post
I like MPO. It failed yesterday at major trend line resistance, but overall looks poised to go up. I'd consider an entry at the creek or on a pullback to trend line support (around 6 bucks). I like the volume coming in at support there---appears to be buying. From a relative strength perspective, I think oil stocks are doing pretty well right now too (xom or cvx, for example).

The primary con here is that we are still really in a downtrend. Current level at 6.50 is a line in the sand--represents the last swing high in the downtrend, and we haven't taken out this swing point yet. My ideal accumulation bases will take out these swing points and then continue basing horizontally to build a cause to move up. Regardless, if I had to predict, I'd say MPO will move up to the top of the range to about 9 bucks--at that point it could go back into the range or it could keep going, hard to say. Check out BSX on the daily in early 2013 as an example of similar type of range--in that case the breakout kept on going.

I could probably make a decent case for distribution here, so even though I'm bullish on this stock, I probably wouldn't trade it because there are other stocks in which I can't make that case.

Cool cool. I had a similar setup to this one on BALT with it's weekly chart ..... albeit BALT has a longer trading history.

$9 just seems so obvious to me and when I start thinking "obvious" is when I decide to get a second opinion LOL.

Reply With Quote
The following user says Thank You to Rock Sexton for this post:
 
  #1226 (permalink)
Trading Apprentice
Ontario Canada
 
Futures Experience: Beginner
Platform: Stockcharts
Favorite Futures: Stocks
 
Posts: 27 since Nov 2013
Thanks: 25 given, 22 received


Rock Sexton View Post
Thanks again guys for you participation. I'm trying to clean up some thing when it comes to my analysis on longer termed charts. What about your thoughts on MPO?

A major long term trend line was broken on what looks to be a legitimate SOS demand candle/bar. It has based nicely ever since. At this point the sell climax looks to have been nothing but a shakeout as it is back trading within the range prior to the drop. The pattern in the background looks to be an inverse head and shoulders with a head to neck measurement of 4.26 to 6.62, which theoretically would yield a breakout back to the longer termed creek.

Here is the daily chart for MPO. Thanks for the post. I took this opportunity to test myself & analyze charts based on what I've learned so far. Looks like "effort but limited result". Here's my take:

For BALT. A successful test at 5.80 area should be the best long entry.

Attached Thumbnails
Wyckoff Trading Method-mpo-daily.png  

Last edited by bbburaot; December 27th, 2013 at 01:33 PM.
Reply With Quote
The following user says Thank You to bbburaot for this post:
 
  #1227 (permalink)
Elite Member
Naperville IL
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: NT broker
Favorite Futures: NQ ES 6E GC CL
 
Posts: 954 since Feb 2010
Thanks: 1,184 given, 650 received

weekly creek is around 6.55, now stock has higher support since bottom, with Demand in background, the safe entry would be after JOC, enter at grinding down to creek.

next Resistance is 9

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following 2 users say Thank You to supermht for this post:
 
  #1228 (permalink)
Trading Apprentice
Charleston, WV
 
Futures Experience: Advanced
Platform: tradestation
Favorite Futures: FX
 
Posts: 12 since Dec 2013
Thanks: 0 given, 11 received

NLY is failing. Not sure that I'd even get 10.50 to short--best price might be around 10.15 for a short (on a retest of resistance). I'm not trading this for real, but here's a trade idea:

short at 10.13, stop 10.97, target 8.43

Reply With Quote
The following user says Thank You to ukdesi for this post:
 
  #1229 (permalink)
Trading Apprentice
Charleston, WV
 
Futures Experience: Advanced
Platform: tradestation
Favorite Futures: FX
 
Posts: 12 since Dec 2013
Thanks: 0 given, 11 received

VNO

Here is one stock that is on my watchlist. I'm looking for a shakeout to occur as the final piece of the range development. I didn't do much volume analysis, but that's because I view volume as pretty secondary to price action. I also don't analyze the market on a bar to bar basis, which is more of VSA thing than wyckoff range analysis in my opinion.
I actually think this stock will provide a deep shakeout to the 80ish level, so really a long here isn't imminent. Just an example of range analysis.


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following user says Thank You to ukdesi for this post:
 
  #1230 (permalink)
Trading for Fun
Scottsdale
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
Posts: 120 since Feb 2012
Thanks: 33 given, 96 received


On that NLY example we've talked about, keep in mind it was re-priced because of the dividend they did. The key breakout/creek level is now around 10.00 ....

Reply With Quote
The following user says Thank You to Rock Sexton for this post:

Reply



futures io > > > Wyckoff Trading Method

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: Wyckoff Method Tuesday, May 10th @ 4:30 PM Eastern Time DrGary The Elite Circle 23 January 27th, 2016 10:50 PM
TF trading using CCI method-it works ESFXtrader Emini Index Futures Trading 426 December 21st, 2014 07:27 PM
A simple trading method that produces results. kevinhenjum Elite Automated Trading 29 November 9th, 2011 11:00 AM
GomCluster Trading Method RODLM Elite Automated Trading 10 October 28th, 2011 07:05 AM
Is here anybody who is trading Felton method? Experiences? redford007 Trading Reviews and Vendors 3 June 6th, 2011 06:01 PM


All times are GMT -4. The time now is 12:15 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-10 in 0.17 seconds with 20 queries on phoenix via your IP 54.90.207.75