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Wyckoff Trading Method
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Wyckoff Trading Method

  #331 (permalink)
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David,

You're getting good at making these videos. Your posts look kind of like a Trading Journal.

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  #332 (permalink)
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Massive l View Post
I'm not doing analysis on the Pound right now but I want to show StockJock a 60min and 5min chart. Do you see the Point and Figure yet? Point and Figure is nice but I think it's easier to see Supply/Demand using candlesticks. It all depends on your strategy I suppose. Of course Wyckoff teaches to use both PnF and Vertical charts.

Very nicely done, Massive. Thanks for your post. There is a visual similarity to PnF, but I usually like to get to know more of the background of the chart type or indicator that I'm using; especially when money and risk are involved. I've searched the internet and haven't found much information about the Monkey Bars Extended. Do you use them for your trading?

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StockJock View Post
David,

You're getting good at making these videos. Your posts look kind of like a Trading Journal.

I second that. Killer videos David! Keep 'em coming.

I've been on a currency trading streak lately. If you get the chance maybe you can look
into 6A 6B 6C 6S. I trade the currencies with the lower margin so I can trade using more lots. (usually around 10)


StockJock View Post
Very nicely done, Massive. Thanks for your post. There is a visual similarity to PnF, but I usually like to get to know more of the background of the chart type or indicator that I'm using; especially when money and risk are involved. I've searched the internet and haven't found much information about the Monkey Bars Extended. Do you use them for your trading?

Well there really isn't more background to it. It is what it is. It plots a figure every point (or any amount of points that you chose). I don't know why they didn't call it PnF because it is exactly that. The original monkey bars are a cross between TPO (Time Price Opportunity) and PnF. Monkey Bars expanded are just PnF. The only difference is the numbers for each time price has entered that price level and the colors which represent 10 trading periods. I have almost 4000 hours of screen time in 2 years of trading, so I have studied this extensively. Of course, I'm always learning more.

I don't use PnF anymore. I use candlesticks by drawing my trendlines from the wicks. (PnF takes into account market excess) I don't use Wyckoff's method of price targeting using PnF. Instead, I use the Volume Profile for price targets. I don't use bars because I can see supply/demand easier using candlesticks.

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  #334 (permalink)
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Massive l View Post
I don't use PnF anymore. I use candlesticks by drawing my trendlines from the wicks. (PnF takes into account market excess) I don't use Wyckoff's method of price targeting using PnF. Instead, I use the Volume Profile for price targets. I don't use bars because I can see supply/demand easier using candlesticks.

If you don't use them, you're safe from any risk that they might have. There's lots of other ways to do price targeting.

Massive l View Post
I have almost 4000 hours of screen time in 2 years of trading, so I have studied this extensively. Of course, I'm always learning more.

Do you have a trading journal in BM's forum? I've made mine on an Excel spreadsheet.

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Massive l View Post
Well there really isn't more background to it. It is what it is. It plots a figure every point (or any amount of points that you chose). I don't know why they didn't call it PnF because it is exactly that.

Massive, could you show me some more about your "PnF" by plotting the same time period and displaying the same data as the chart that I'm posting in this message. Let's put them side by side for comparison, just to check them both out. This is a PnF chart of BAC on a daily chart from 03/10/2010 to 06/17/11 using the Wyckoff PnF method. You seem to know how to work with the Monkey Bars Expanded; so please do this for the same stock, BAC, and lets see how your and mine compare.

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  #336 (permalink)
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Can you post one that starts in January. I can't seem to get all of that on my chart with ToS.

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Video for June 21 2011

By request I look at some currencies. I look at the daily charts and the 60 minute. Sorry, nothing earth shattering, just my observations.

I also look quickly at crude which did come back down and hit that lower trend line. In the video I talk about a potential long, but don't give detail as to why. The attached chart gives the detail for a long trade. The video will post shortly.

David



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  #338 (permalink)
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Excellent analysis David. Thank you. Much appreciated, sir.

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  #339 (permalink)
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Massive l View Post
Can you post one that starts in January. I can't seem to get all of that on my chart with ToS.

The zoom function in my PnF program just enlarges the chart, but the pattern is encluded for January 2011 to current on the chart I've posted. I've allowed the program to use up to 20 years of historical data if available. If you like, I could clip out just this years pattern and post it.


Edit: Ok. I did a little copy and paste editing on a zoomed image of the same PnF chart to make it easier to read for January 2011 to current.

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Last edited by StockJock; June 22nd, 2011 at 09:55 AM. Reason: To include edited chart image.
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Current S&Ps


We are at an interesting point in the S&Ps.

Supply has been evident since April in this market, and we have had a fall of over 100 points (basis Sep contract) thus far from the high put in on the first trading day of May. That fall had been rather relentless into mid-June, but alas, all good things come to an end and we can see we became oversold.

Over the last week and one-half, buyers responded to the oversold condition and began buying in anticipation of a rally. The accumulation is obvious on the intraday charts. Last Thursday, the market had a Spring. It tested that Spring over the next two days and then responded with a strong rally - something we look for in a Spring. This morning the market tested the 1285 level and so far has held.

Assuming the market continues to rally, how far can it go?

The 1 x 5 point & figure chart highlights a conservative count of the first phase (A) along the 1257 line. Although there are higher counts available (i.e., more phases), I have found it best to be conservative, and not get too far ahead. This phase indicates a rally to the 1320 area.

We want to coordinate P&F counts with the bar chart and larger context of the market. You can see that should the count be realized and the market reach this level, it will be running into the supply line from the May high.

No one knows if the market will do as anticipated in these charts. They are simply guides - usually quite good, but guides nevertheless.

Be alert for supply. We have been in a downtrend for almost two months and there is reason to believe that the market can run lower. Any bad news can end this rally quickly. Watch, too, to see where this rally dies out. If it fails to reach 1320 and falters at, say, 1300 - 1310, then we can view the market more bearishly.

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