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Wyckoff Trading Method
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Wyckoff Trading Method

  #1241 (permalink)
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David_R View Post
I think the VSA folks would say a high volume up bar is a SOW. To me it looks like strength, but you are at the top of the trading range. It either needs to breakout or retreat.

VSA always depends on OHLC as much as volume, in particular the size of the bar compared to its previous neighbours, the close of the bar compared to the high and the low, and the volume compared to the recent average volume. In this case as the bar closed on or near the high it's likely to be strength until proved otherwise, whereas closing well off the highs would have left other interpretations with higher probability. I do like VSA but it needs careful use in conjunction with other methods to eliminate a lot of false signals, imho (in other words I'm not good enough at it yet...)

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  #1242 (permalink)
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VSA is a simpler way of dissecting the times and sales and attempt to tell the story behind it.

The only way one can progress further than VSA is the usage of tape reading, which I deemed it as the ultimate form of VSA. Why do i say so? The close of the bar or the spread of the bar means nothing if you do not see how the trasanctions were carried out. Bar chart is a lazy way to formulate what the market does on that day. A lot of nitty gritty details, which are rather important were actually missed by traders.

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  #1243 (permalink)
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ratfink View Post
VSA always depends on OHLC as much as volume, in particular the size of the bar compared to its previous neighbours, the close of the bar compared to the high and the low, and the volume compared to the recent average volume. In this case as the bar closed on or near the high it's likely to be strength until proved otherwise, whereas closing well off the highs would have left other interpretations with higher probability. I do like VSA but it needs careful use in conjunction with other methods to eliminate a lot of false signals, imho (in other words I'm not good enough at it yet...)

Some of the worst false signals come with those big demand bars ..... and whether or not they're strength or weakness.

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  #1244 (permalink)
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o00o00o00 View Post
VSA is a simpler way of dissecting the times and sales and attempt to tell the story behind it.

The only way one can progress further than VSA is the usage of tape reading, which I deemed it as the ultimate form of VSA. Why do i say so? The close of the bar or the spread of the bar means nothing if you do not see how the trasanctions were carried out. Bar chart is a lazy way to formulate what the market does on that day. A lot of nitty gritty details, which are rather important were actually missed by traders.

I agree with this. My better trades as of late have been in conjuction with me watching how they handling the bid/ask sizes.

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  #1245 (permalink)
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o00o00o00 View Post
VSA is a simpler way of dissecting the times and sales and attempt to tell the story behind it.

The only way one can progress further than VSA is the usage of tape reading, which I deemed it as the ultimate form of VSA. Why do i say so? The close of the bar or the spread of the bar means nothing if you do not see how the trasanctions were carried out. Bar chart is a lazy way to formulate what the market does on that day. A lot of nitty gritty details, which are rather important were actually missed by traders.

Then how do you read tape?

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  #1246 (permalink)
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NQ

the red flag of Up move.

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  #1247 (permalink)
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supermht View Post
the red flag of Up move.

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i know things dont work out all the time but the up volume with 125 shows large e/r and then the weak up move with 24 shows a nice place to get in for me.. and the 78 down wave i would feel it would start to roll over.. maybe the 166 upwave is climax..

dont believe anything you hear and only half of what you see

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  #1248 (permalink)
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madLyfe View Post
i know things dont work out all the time but the up volume with 125 shows large e/r and then the weak up move with 24 shows a nice place to get in for me.. and the 78 down wave i would feel it would start to roll over.. maybe the 166 upwave is climax..

i agree with you, after 125, this looks like BC, but we did not see supply coming in, 78 looks like an effort vs result to me. currently I saw buying climax, but I have to wait for supply coming in before I take short position

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  #1249 (permalink)
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supermht View Post
i agree with you, after 125, this looks like BC, but we did not see supply coming in, 78 looks like an effort vs result to me. currently I saw buying climax, but I have to wait for supply coming in before I take short position

tough to conclude weakness because there is a trading area to the left side. looks supported. the next bars should confirm weakness or strength. yes its more like effort vs result.

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  #1250 (permalink)
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madLyfe View Post
i know things dont work out all the time but the up volume with 125 shows large e/r and then the weak up move with 24 shows a nice place to get in for me.. and the 78 down wave i would feel it would start to roll over.. maybe the 166 upwave is climax..

after yesterday's warning, price made climax again, but with UT, then down

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