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Wyckoff Trading Method
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Wyckoff Trading Method

  #81 (permalink)
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martied16 View Post
Nice thread!
Just read "Wyckoff Schematics: Visual templates for market timing decisions" PDF and thought I'd do chart on CL from this morning.
Comments and suggestions would be most welcome!

Hello Martied16! I reused your chart and marked it with some other alternatives in orange color.

Laurus

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Laurus12 View Post
Hello Martied16! I reused your chart and marked it with some other alternatives in orange color.

Laurus

Thanks Laurus!
I understand now why 2 lines for support can/should be drawn as the Shakeout/Spring are obvious now. I like the 'Creek' concept rather than a fixed line, I just hope I don't put the creek where I want it....
But that shouldn't matter as the rec is to enter much lower or higher than the 'creek' area. Confirmation should be seen once the creek is crossed.
Interesting stuff....I'm beginning to see these formations from the 1min to the 30min. Surely I can find a couple of entries a morning....

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Great Martied! Could you have us updated on the GC? Would be interesting to see how that pattern develops.

Regarding the Creek, together with resistance use the coming "Boy Scout checking out where it is safe to jump over the creek" analogy. The way I have understood it you have it in your CL 1min chart with the two tops before the shakeout, where we see it coming up again meeting resistance at the creek before actually having the JAC.

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martied16 View Post
Nice thread!
Just read "Wyckoff Schematics: Visual templates for market timing decisions" PDF and thought I'd do chart on CL from this morning.
Comments and suggestions would be most welcome!

I think its interesting how the GBP/JPY and CL chart have similar patterns with the automatic rally and selling tests as well as JAC. One thing that would concern me is that CL seems to be trending down at least on a sub daily time frame, so looking for accumulation and a long may not be the best plan. I don't know. I really don't know. I was watching CL last night and though it was in an accumulation and would be popping this morning. Instead that area broke down and the support became resistance for a good trade. Not a trade I took, but just noticed later today. As always it seems seeing this stuff in hind sight is great, but trading it live may still be a challenge. Its making it difficult for me to come with a plan.

D

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David. The thing that helps me is to grade the significance of the different time frames and how big the formations are. I would not put too much emphasis on a 1 min time frame if I do not have formations on larger time frames as for example 240 or 60 min pointing in same direction. I consider my self a swing trader, so if I for example see a formation on 60min or higher, I watch for clear formations on the 1, 3 and 5 min for quicker entries, but with emphasis on having strength or weakness in background on higher time frame(s). Then I follow trend repeating this with same direction in mind.

Hope this helps
Laurus

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Laurus12 View Post
David. The thing that helps me is to grade the significance of the different time frames and how big the formations are. I would not put too much emphasis on a 1 min time frame if I do not have formations on larger time frames as for example 240 or 60 min pointing in same direction. I consider my self a swing trader, so if I for example see a formation on 60min or higher, I watch for clear formations on the 1, 3 and 5 min for quicker entries, but with emphasis on having strength or weakness in background on higher time frame(s). Then I follow trend repeating this with same direction in mind.

Hope this helps
Laurus


Laurus,

Thanks. I think this makes sense. Its like you were saying further back in the thread about 6E where I saw weakness and you felt it was an accumulation, or maybe more correctly a re-accumulation.

David

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David_R View Post
I think its interesting how the GBP/JPY and CL chart have similar patterns with the automatic rally and selling tests as well as JAC. One thing that would concern me is that CL seems to be trending down at least on a sub daily time frame, so looking for accumulation and a long may not be the best plan. I don't know. I really don't know. I was watching CL last night and though it was in an accumulation and would be popping this morning. Instead that area broke down and the support became resistance for a good trade. Not a trade I took, but just noticed later today. As always it seems seeing this stuff in hind sight is great, but trading it live may still be a challenge. Its making it difficult for me to come with a plan.

D

The Wychoff patterns of Accumulation/Distribution are reversal patterns and therefore you would be entering opposite the trend. With this in mind I see why the recs are to wait until the JAC is seen, then waiting for a backup to an LPS so as not to get caught in a breakdown of that pattern. That seems to be the key with trading these two patterns, waiting for confirmation.
Looks like I need to review Wychoff continuation patterns so I don't see an Accumulation/Distribution pattern everytime a hesitation occurs on an upmove or downmove . If anyone has some PDF's/links on Wychoff continuation patterns could you post or PM me? Thanks.
Glad to have found this thread! Thanks to David_R for starting it!

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martied16 View Post
The Wychoff patterns of Accumulation/Distribution are reversal patterns and therefore you would be entering opposite the trend. With this in mind I see why the recs are to wait until the JAC is seen, then waiting for a backup to an LPS so as not to get caught in a breakdown of that pattern. That seems to be the key with trading these two patterns, waiting for confirmation.
Looks like I need to review Wychoff continuation patterns so I don't see an Accumulation/Distribution pattern everytime a hesitation occurs on an upmove or downmove . If anyone has some PDF's/links on Wychoff continuation patterns could you post or PM me? Thanks.
Glad to have found this thread! Thanks to David_R for starting it!

Martied,

I think there can be areas of re-accumulation in up trends and re-distribution in down trends, so they won't always be reversals. I think. I could be totally wrong about that. So, I think those re-accum and re-dist could be continuation, but it may not be referred to as such. Also, in an up trend or ranges in an uptrend you can trade the Spring. That is a wyckoff setup where price dips below an obvious support area and is rejected and closes back above. In and down trend or range bound area in a down trend you can trade Up thrusts or Hidden Upthrust. I will try and post some chart examples.

Post 18 has a good example of a spring.


David

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Hey David and Martied



yea iam also looking desperately , for some example shematics of .. RE-Acc and Re-Distribution ..
here is phrase ive found about it..


Where a Trading Range (TR) represents a reaccumulation (a TR within a continuing up-move), you will not have evidence of PS, SC, and ST. Instead, phase A will look more like phase A of the basic Wyckoff distribution schematic. Nonetheless, phase A still represents the area where the stopping of the previous trend occurs. Trading range phases B through E generally unfold in the same manner as within an initial base area of accumulation.



nevertheless .. as david said.. u can also trade in markups/downs.. .. as for example a retest of a breakout wich forms a spring is a nice setup .. in an upmove

or a retest of a breakdown .. forming an upthrust .. for down trends.. is also a legit setup.. to trade.


will post some examples .. about RE-Acc/Dist. .. and markup/down setups..


laters

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Gold Update


Here's a Daily of Gold. I had posted a while back about seeing weakness and the 1390 area being resistance. GC is at support and it could bounce, I don't really know, but it just seems to me there needs to be more down side. Weak rallys and big supply bars to the down side. Any comments are welcome.

By the way, it looks like we are on the ice. Just need to fall through...:-)

D

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