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Wyckoff Trading Method
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Wyckoff Trading Method

  #361 (permalink)
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Euro

There may be a good move to the downside setting up in the Euro. Support was broken, but we need to see where it closes. You can see the SOT that has been playing out for some time.

David

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  #362 (permalink)
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6E followup chart

A quick chart to follow up on yesterdays 6E chat. I did not have the guts to take a trade.

D

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  #363 (permalink)
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Good observation where do you think was the ideal entry? Definitely signs of upward pressure becoming exhausted on its retest of that region.

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  #364 (permalink)
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Deusomega View Post
Good observation where do you think was the ideal entry? Definitely signs of upward pressure becoming exhausted on its retest of that region.

Attachment 42710

I would have thought around the 1.4425 area where it retests the congestion, plus you have confluence of trend lines with horizontal resistance and the supply line (diagonal) coming together.

D

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  #365 (permalink)
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I think its interesting to note the behaviour. This is just price but I think it would be pretty hard to make any sense of volume at this low of a viewpoint.

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Don't know how much value one can extract but I think one can clearly see a change reaction and urgency of the seller's reaction.

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  #366 (permalink)
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SP500

Hey

Two SP500 Weekly charts attached and a Monthly chart ..

mmh!?! .. looks like the market gets weak or confirmed weakness .. look out for imminent market collpase! .. nah just kidding .. but still we have a serious weakness in the making .. and that on a critical level ..


what do ya think ?


cheers

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Wyckoff Wave

Nearly a text book example of a wyckoff wave of Disney .. ie. (re)accumulation - markup - distribution

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PrymeTyme View Post
Hey

Two SP500 Weekly charts attached and a Monthly chart ..

Nice set of chart analysis. I'm interested in how you determined it, so I have a few questions. I want to learn from your analysis.

1. What is your reasoning in using a line labeled "retest of critical area"? What's the concept?
2. What do you mean "clustering closing"? What is a cluster?
3. In your use of "overbought" and "oversold" lines, do you mean that if prices cross over these lines that there will be a reversal or that these would be good places to buy or sell?
4. I'm guessing that you're implying that a crossover of both an oversold line and a demand line shows a price weakness and a high probility down trend? What's the basis of this?

Thanks for your insite.

Also, you found a good example of Wyckoff waves in your Disney chart.

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  #369 (permalink)
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Answers in Blue


StockJock View Post
Nice set of chart analysis. I'm interested in how you determined it, so I have a few questions. I want to learn from your analysis.

HI StockJock

1. What is your reasoning in using a line labeled "retest of critical area"? What's the concept?

there is no concept behind this its just an observation of price rallieng back into former support wich could now
act as resistance .. it actually is still resistance as this area acted as a turning point ie forming a bear market .. so its a critical level that price may bounce of that area


2. What do you mean "clustering closing"? What is a cluster?

we have seen about 5 months of price action wich didnt make an advance ,the closes tend to cluster near or arround the same area ..

3. In your use of "overbought" and "oversold" lines, do you mean that if prices cross over these lines that there will be a reversal or that these would be good places to buy or sell?

yes , these locations could be a good opportunity to buy or sell , it depends on the price and volume action arround these areas


4. I'm guessing that you're implying that a crossover of both an oversold line and a demand line shows a price weakness and a high probility down trend? What's the basis of this?

well the trend channel properbly applied will help you to find good selling and buying opportunitys ..in a trend
however if the market forms a trading range like in the SP500 .. and we had an uptrend beforehand.. and the price
broke thru a demand line wich then acts as resistance we can speak of a weakening market .. however we still have to take into consideration the price and volume action at, near or in those areas .. to tell us a story..

to your question : the area under the demand line is called oversold .. so there is actually no oversold line so to speak .. but if price breaks down thru demand line wich actet as support and price doesnt come back into the channel.. like u would see on a shakeout , spring .. but rather stays under the demand line or even retests the demand line and fails to come back .. ie bounces of the demand line.. we could speak of a weaknening market.. but that doesent neccesailry mean that we see an immidiate down trend.. as it may just prepare its next move ie.. builds a cause for the next move... wich we have to analyse in wich way it may coud lead... further conclusions can be made within the forming range .. or price action and volume that follows.. that action.. like weak low volume rallies and higher volume on down swings upthrusts .. shortening of spread and thrusts.. etc.. so actually prices in an oversold or overbought area .. warns us that trading gets excessive arround those areas . wich could be used by SM to dump some of there holdings or or start a buy off...


hope it helped ya .. just shoot questions if anything is till unclear

EDIT : Sorry i made some error declaring the demand line and supply line ..
it should be in an uptrend we have a demand line and a over bought line
in an down trend we have a supply line and a over sold line

but nevertheless the area under the demand line is oversold and the area over a supply line is an overbought one

regards
PT

Thanks for your insite.

Also, you found a good example of Wyckoff waves in your Disney chart.



Last edited by PrymeTyme; July 21st, 2011 at 08:49 AM.
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  #370 (permalink)
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Good videos David. Thanks for making and uploading them. Why can't you continue this good work?

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