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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.
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.
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.
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.
Hi everyone,
I am a newbie to futures trading. I am considering using wyckoff method for intermediate term trading based on daily charts. Here is an ES daily chart. From the white circle that I outlined, we are testing that important resistence, and volume is quite low. Doesn't this mean we should go short there according to wyckoff? In the past 3 years' daily chart, I have seen a lot of times where we test an important high with low volume, and then later just move slowly up. Could anyone tell me what is wrong with my analysis here please?
From what I've learned, the market can rise on low volume. From what I understand, the reason is the absence of supply. If there isn't supply in the market then the market doesn't need much effort (volume) to go up. Just because you test a resistance level on low volume does not necessarily mean reversal, or to short. You have to take it in context. Volume in and of itself is not really the most important thing. I believe that the structure of the market is the main thing to focus on.
Gary F. is the expert. I suggest looking at any of the charts he has posted. And by all means feel free to ask questions.
Thank you. I will spend more time to look at his charts tomorrow. Right now is the only learning source the tradingpsychologyedge.com website for this method?
This is supposed to be the course that Wyckoff created, but just owned by others now. I think Gary F. has a website as well, but not sure about courses. David Weis (weisonwyckoff.com) has some DVD that I have and he does private mentoring.
Studies in Tape reading by Wyckoff aka Rollo Tape is supposed to be a good book, but I have not read it.
The charts posted by Traveller are good as well. Very good, I think.
