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Wyckoff Trading Method
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Wyckoff Trading Method

  #371 (permalink)
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PrymeTyme View Post
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 ..

PrymeTyme,

I've attached a chart with what I think you are describing as clusters. I've placed rectangles around the clusters. Is there some significants about clusters that aid in making a trading decision?

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  #372 (permalink)
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StockJock View Post
PrymeTyme,

I've attached a chart with what I think you are describing as clusters. I've placed rectangles around the clusters. Is there some significants about clusters that aid in making a trading decision?


HI


is there some significants about clusters ?

well its just something wich either adds to the story as a whole or not , so yes and no , it depends on the background
,on the location .. for example if the big boys are bullish and they run into an area of resistance .. and we have clear signs of strenght in the background .. and now we run into resistance and we form clusters of closes ie.. price doesent advance.. we could make the conclusion that either the big boys start to build a cause for the next move .. or shake the market out .. push thru supply or absorb supply etc..

so it depends on how we get there .. and what we have analysed till the point of where the price starts to stall and we have clusteretd closes.. this may be a turning point or just a short stop where the big boys start top absorb the supply ie. accumulate more holdings ... it needs further analyisis to see whats happening .. but we will whitness some sort of action wich will help us in making a conclusion about the market..

making trade decisions based on that ?

well no, we canot decide if we should be long or short the market based on a cluster of closes.. it just adds to a story .. we have to wait till we see further actions.. in order to make decisions later on..

however if u are in a trade and u whitness a cluster of closes .. caution is adviced.. and u may want to move your SL or similar choices.. based on your trading plan of course..



well to your chart :

actually i have to say that your chart doesent really speak to me at all.. yea its a sort of clustered closes
but know i want to come to a point wich is also important.. we tend to tray to analyze every chart and we think we have to read and see actually whats going on on every single chart .. but thats not possible and it wont help u or anyone else to try and force a analysis.. when its not that easy.. so if u see a chart like yours i would say well nothing i can work with .. so no trading on that .. chart do speak for themselfes here and there.. so better wait for almost crystal clear signs .. and storys.. a chart puts out .. as to try and force a analysis based on a chart wich actually dosent speak forthemselves.. you know what i mean ?

sorry if i cant explain whats in my mind .. as english isnt my nature language..


btw.. StockJock is it you who build the wyckoff online university ?

InformedTrades - University Of Wyckoff Trading Methodology

if so .. outsanding work and effort you put in there, hands down really appreaciate that .. as i also frequently wacthed some vids and had good readings on some articles.. keep it up

cheers

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  #373 (permalink)
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bullforever View Post
Good videos David. Thanks for making and uploading them. Why can't you continue this good work?

Definitely, David had some great videos. Thanks David, wish you could do some more.

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  #374 (permalink)
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PrymeTyme View Post
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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  #375 (permalink)
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bullforever View Post
Good videos David. Thanks for making and uploading them. Why can't you continue this good work?

Sorry for the late reply. I didn't realize there was anyone viewing this thread.
I could do the videos, but it is a lot of work. Not tying to make excuses. I will consider starting again.

David

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  #376 (permalink)
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David_R View Post
Sorry for the late reply. I didn't realize there was anyone viewing this thread.
I could do the videos, but it is a lot of work. Not tying to make excuses. I will consider starting again.

David

Hey David,

Are you still trading this way? Fancy firing out some charts again? not vids just marked up charts.....I will if you will

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rassi View Post
Hey David,

Are you still trading this way? Fancy firing out some charts again? not vids just marked up charts.....I will if you will

Rassi,

I'm trying to trade this way. I do well and then my bad habits start and I lose my profits. I still struggle with the mental part of the business. I think I could actually do well if I had patience, discipline and didn't let emotion get in the way.

I attached a chart of 6E. Unfortunately its after the big drop, but I believe there is more downside to come. The rally so far has been on very light volume and we have broken ICE in Wyckoff terms. Not sure where the move up will stop, but it could be anywhere around 1.3800 on up to maybe 1.3900. Seems like people like the round numbers, so it may peak out at the 1.38 area.

I will try and do more charts, but can't promise.

David

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  #378 (permalink)
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Here are some more charts. One of the Euro to follow up yesterdays chart. There is potential for the Euro to rally higher than I originally said. It actually already has be exceeding the 1.3900 level. Support came in at the demand line which was also horizontal support. The volume is still not that great. I'm not sure how good the volume reading is on TOS, but this is what I'm working with at the moment. The large trading range is very much like, or, in fact is, a balance area, a term that would be used in Market Profile. I know that Is not Wyckoffian, but I don't feel as though Market profile takes away from Wyckoff. Whether we call it a balance area, a trading range, consolidation, or a sideways line is not important. The point I wanted to make is that the in MP there is the POC, or Point of Control. That is the point at which the most volume is traded with in that balance, or value area. Its a fact, not an approach or method. The fact that the most volume is traded there means that must be where there is interest in price. It could be to buy, it could be to sell. It doesn't really matter. It just means that its the area where the most activity/volume took place. The line I marked at the approximate center of that balance area also happens to be an Axis line. An Axis line, a point at which price acted as support and resistance multiple times. Price is just spinning around the Axis line. Interesting how the Axis line and the POC happen to be about the same area. For the most part, anyway. I have no idea where price is going, but there is potential to return to the POC or the Axis line, and even to the supply line above. Look at the 60 min or 15 min for signs of failing or change in trend before shorting.

Also posted a chart on soybeans. In a range for some time. when it breaks there should be a good move. For now the bias is short back down to bottom of trading range.

Also a chart on Gold.

David

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Wyckoff Trading Method-6e091511.jpg   Wyckoff Trading Method-beans_091511.jpg   Wyckoff Trading Method-gold_091511.jpg  
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  #379 (permalink)
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Chart Updates

Updates to the 6E, Beans and Gold. This time I drop down to the 120 minute charts.

6E looks like it wants to go lower, but needs to break support first.

Beans are expected to come to the bottom of the trading range on the daily, but is currently oversold in the 120 min trend channel. Could see a bounce in beans before moving lower.

Gold is in position to drop at the supply line on the daily and the 120 min. The possibility of breaking higher still exists as well. The highs of Friday seem to be the line in the sand in terms of resistance needed to break for a move higher.

David

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Wyckoff Trading Method-6e120min91811.jpg   Wyckoff Trading Method-beans_120min91811.jpg   Wyckoff Trading Method-gc120_min_091811.jpg  
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6A


The aussie $ looks like it could be in position for a drop. Its at the supply line and horizontal resistance. There is SOT (shortening of the Thrust). Dial down to a 5 or 15 min to look for an opportunity. A break of the demand line could mean a move back to 1.04 area +/-

David

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