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Wyckoff Trading Method
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Wyckoff Trading Method

  #531 (permalink)
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Gary Fullett View Post
I really wouldn't look for "patterns". I would look for more price and volume action because most charts are not "classical" in their trading, but you have to deduce the Wyckoff principles in that chart.

Gary


Gary,

Wouldn't price and volume be more VSA? I thought that springs and Up thrust with volume was the crux of Wyckoff. Or maybe I'm misunderstanding you.

David

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David_R View Post
Chart of the 6A. I believe there is an Upthrust on the Daily in the background. Looks like it is testing Ice at around the 1.06 level. I was wondering if others feel that I am looking at this correctly and if more weakness could be in store?

David



I don't like the use of a trend line without the parallel reverse trend line. As you may know, the A6 is directly related to strength or weakness of commodities. This is due to the resources in Australia. However, it is possible that this market has had an upthrust and some weakness on the daily chart. On a long term basis, this market will still need time to go through a possible distribution process. In regards to the daily chart, a weak retest (lighter volume and smaller price range) can show a lack of demand and then lead to markdown.

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There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
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  #533 (permalink)
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supermht View Post
Hi, this is my first set up using Wyckoff method you mentioned in the thread.

thanks



Very well done! You can clearly see the retest of the breaking of the ice that provides a proper, low risk set-up trade.



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supermht View Post
is this spring?

In downtrends, which this seems to be, springs tend to fail, so be careful in buying springs when the background of the market and ease of movement is downward.


Gary

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David_R View Post
Gary,

Wouldn't price and volume be more VSA? I thought that springs and Up thrust with volume was the crux of Wyckoff. Or maybe I'm misunderstanding you.

David



Springs, upthrusts, price and volume are all Wyckoff principles. VSA uses some Wyckoff principles in their analysis.


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  #536 (permalink)
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Gary Fullett View Post
I don't like the use of a trend line without the parallel reverse trend line.

Gary,

Even with the use of the parallel reverse trend line, do these lines need to be replotted whenever there is larger retracement or slight change of slope in the trend. Or do these lines stay the same whereas the larger retracements and slope changes are then considered overbought or oversold conditions?

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Gary Fullett View Post
I really wouldn't look for "patterns". I would look for more price and volume action because most charts are not "classical" in their trading, but you have to deduce the Wyckoff principles in that chart.


Gary Fullett View Post
I focus on direction of the stock market by watching the Nasdaq market, which tends to lead before the S&P market. So watch the 60 minute and daily Nasdaq - S&P spread for leadership.

Gary,

If I'm to watch the chart for the E-Mini NASDAQ 100 Futures, then what do I look for if its not patterns? Aren't up trends, down trends and ranges patterns? Is Price/Volume divergence considered a pattern? The Wyckoff training teaches divergences between the Optimism/Pessimism Index and the Wyckoff Wave, but those indicators aren't available on most trading platforms. Do you use them?

There are also the Trend Barometer, Technometer, Force and Momentum indicators which also are not available in most trading platforms. I never see these discussed in forums with Wyckoff as a topic. I get the impression that they are not necessary.

Anyway, what do I look for in the NASDAQ 100 and what does "leadership" for the S&P 500 spread mean? Should I watch at the 60 and daily S&P 500 or the E-Mini S&P 500 Futures? Do I focus on the Indicies or the Futures? For that matter, in what context are you using the word "spread" for the S&P? I'm familiar with the spread as the difference between the high and low of a price bar. Sometimes "spread" is used when speaking of option trading.


Last edited by StockJock; March 8th, 2012 at 11:13 AM.
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  #538 (permalink)
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Euro

Missed one of these- but some very good entries on EURO in last few days- with strength in the background.

Look at 4hr chart- beautiful display of Effort VS results on the two highest volume bars. I'm not sure if this is stopping action (might not quite be an accurate definition) but it is definitely take note behavior.

Springs fail in downtrends- however there is an exception when there is strength in the background. And the market has proven that it is undergoing a change of behavior.

(PS all trades taken with just Price and Volume- no indicators) It pays to think in terms of where price will be defended by the CO. (Composite Operator)

Added 4hr to show where Volume came in... I get the message the CO does not want price to go down any further...

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Wyckoff Trading Method-2012-03-08_0838.png   Wyckoff Trading Method-2012-03-08_08414hr.png  

Last edited by traveller; March 8th, 2012 at 01:03 PM.
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Gary,

Is there any similarity in purpose to the Optimism/Pessimism Index and the Commitments of Traders (COT) Report? I know that they are calculated differently and they are from different sources, but the concept of optimism seems like it would encourage traders to be committed and vice versa.

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  #540 (permalink)
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retest


I am reading the pattern, is this a retest?

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Wyckoff Trading Method-6e-03-12-60-min-3_8_2012.png   Wyckoff Trading Method-6e-03-12-60-min-3_9_2012.png  

Last edited by supermht; March 9th, 2012 at 05:48 AM.
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