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Wyckoff Trading Method
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Wyckoff Trading Method

  #411 (permalink)
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6E question

Hello guys

I'm studying wyckoff for some time. From all methods I tried, this one suits me best.
I have one question for you. What do you guys think about market action which I highlighted from the wyckoff method point of view?
I'm not interested in buy/sell advice, but I would like to hear what is your view on what the market did. How would you interpret that market move?

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  #412 (permalink)
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Wyckoff traders - Dr. Gary Dayton will be back on Tuesday the 13th @ 4:30PM Eastern US, and he will be talking about Wyckoff in conjunction with several other things, details:

https://futures.io/elite-circle/15873-webinar-dr-gary-dayton-dec-13-2011-a.html

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  #413 (permalink)
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mrjoe View Post
Hello guys

I'm studying wyckoff for some time. From all methods I tried, this one suits me best.
I have one question for you. What do you guys think about market action which I highlighted from the wyckoff method point of view?
I'm not interested in buy/sell advice, but I would like to hear what is your view on what the market did. How would you interpret that market move?

Mr. Joe,

There may be a term for what you highlighted, but it eludes me. I have seen such action on a higher time frame chart while in one of Dr. Garys Deep Practice sessions. He showed a strong downtrend and then a strong up bar. One of the participants gave it a term, but I don't recall. It was something like a "Mini climax".
It could be a reaction to news, but I dont know.

Sorry I couldn't be more help.

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  #414 (permalink)
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mrjoe View Post
Hello guys

I'm studying wyckoff for some time. From all methods I tried, this one suits me best.
I have one question for you. What do you guys think about market action which I highlighted from the wyckoff method point of view?
I'm not interested in buy/sell advice, but I would like to hear what is your view on what the market did. How would you interpret that market move?


according to Tom Williams, this is called an Upthrust, it is often used by professionals, and it serves 2 purposes:

1. to lure more traders into buying the market, so that the professionals can short more at higher prices.
2. to trigger stoplosses to shake off weak holders.

the telltale signs to look for are sudden high volumes and no follow through action afterwards.

this is just my read of that particular market action on your chart, by applying Tom Williams teaching.

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  #415 (permalink)
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iPlayGames View Post
according to Tom Williams, this is called an Upthrust, it is often used by professionals, and it serves 2 purposes:

1. to lure more traders into buying the market, so that the professionals can short more at higher prices.
2. to trigger stoplosses to shake off weak holders.

the telltale signs to look for are sudden high volumes and no follow through action afterwards.

this is just my read of that particular market action on your chart, by applying Tom Williams teaching.

The part that is confusing to me about the up thrust is that the bar closes above the nearest resistance to the left. Its not until the next bar that it reverses. The specific action on the chart may be a "mini buying climax". I would have looked at the up bar as bullish, but Its probably not. .?

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David_R View Post
The part that is confusing to me about the up thrust is that the bar closes above the nearest resistance to the left. Its not until the next bar that it reverses. The specific action on the chart may be a "mini buying climax". I would have looked at the up bar as bullish, but Its probably not. .?

Yeah I don't think that is an upthrust or are we doing multi interval classifications now? I guess it could be considered a two bar upthrust but either way I think it would imply weakness a large increase in volume with a strong close above a mini resistance to the left. But next bar we have a complete wipeout of gains and a slightly lower low and a close exactly where we were 1minute ago with all that volume.

But yeah im a lazy ass so havent given wyckoff much time lol.

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  #417 (permalink)
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David_R View Post
The part that is confusing to me about the up thrust is that the bar closes above the nearest resistance to the left. Its not until the next bar that it reverses. The specific action on the chart may be a "mini buying climax". I would have looked at the up bar as bullish, but Its probably not. .?

well, I'd have looked at that bar as bullish too, as the volume associated with that bar had been the greatest in the session so far, that meant large effort into pushing that bar up. But Tom Williams also stressed that no effort should be without result. the logical result following that bar should have been continuous upward movement of price. but what really happened was exactly the opposite, effectively nullifies that large volume upbar's significance and signifies that price might go down instead.

I have only a basic understanding of Tom William's teaching. but my limited experience has suggested that volume spread analysis is better applied to larger time frames. this particular example has happened on a 1 minute chart, so we might have been befuddled by noise after all.

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  #418 (permalink)
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I would talk note that the up bar is the highest volume up bar on the chart. Range of the bar is also the largest for an up bar. Just behind it we have some Shortening of the thrust and climactic action. That up bar is the first sign that buyers are stepping back into the market. It could be seen as an UT, however, the reaction to it was lack luster. You can also see that the market turns back up every time we test the low of that high volume up bar. I'd be looking for one of two things, a spring somewhere within the range of that bar, or a Jump across the creek of that consolidation (buy the first pullback).

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  #419 (permalink)
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Here is my view on that bar. Great chart! Let me know if any of you guys see something that I might have missed, or if I missed the ball all together.

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t123knight View Post
Here is my view on that bar. Great chart! Let me know if any of you guys see something that I might have missed, or if I missed the ball all together.

T123,

I think your observations are accurate for the chart that was posted, but we don't have a bigger picture. In other words, even though the concepts apply on any timeframe, It would make sense to see what a higher timeframe is saying.

David

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