David to post youtube videos you need to include the entire youtube url in the bbcode, not just the #/string like with vimeo. Click the word youtube in my post for examples.
OK I see now you switched to vimeo.
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I've seen some traders use some of the popular indicators in their Wyckoff analysis and I'm wondering if anyone has any comments about that. For example, I've seen charts with the Murray Math indicator and ones with Fibonacci Retracements. There may be others that are used, but are they really necessary?
Thanks SJ. I appreciate it. No. I don't have a journal. I'm currently working a day job, so trading is on the back burner for now. I am considering starting a journal once I get going again. I have had one in the past.
I personally don't think they are necessary, but my personal opinion is that whatever helps or works for the individual is fine. I used to use fibs and I know that many believe in them. Many time price will come right to the 61.8 ret., but I think if we look left we will see a support area that happens to align with the 61.8. So, is it coming to the 61.8 or the support area. The same thing with Pivots or S1... R1. I don't know, but fun to talk about. :-)
Any Wyckoffians care to tell me what is taking place on this 5 min chart? I see supply entering, but we pop instead of dropping. My only conclusion is that the sideways activity is absorption. Any opinions and what are the clues?
I can't seem to find this stock on my ThinkOrSwim platform, so I'll use the image you provided. I've marked up your chart to display my best guess of the bar activity. If anyone comes up with something different, please respond. David, what platform are you using and what is the ticker symbol of this stock?
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