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Wyckoff quizzes


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Wyckoff quizzes

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  #21 (permalink)
 58LesPaul 
Hawesville, KY
 
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SC @14:45
Test @15:00
1st Higher High @15:15
Retracement on lower volume in progress!
UP!


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  #22 (permalink)
 rgakalo 
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Mich62 View Post
Quiz #3: up or down? (thanks to rgakalo for granting permission, don't want to mess up his thread)


I would either stay away or sell short. I can see the bullish story of inability to make a new low, ease of movement to the upside and buying volume at the bottom of the trading range but the fact that we are still in a downtrend and we have just created an UT and we are at the top of the trading range would definitely make me dismiss breakout retest story and refrain me from going long.


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  #23 (permalink)
 mwf2220 
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Mich62 View Post
Quiz #3: up or down? (thanks to rgakalo for granting permission, don't want to mess up his thread)

211229_Chart_UpDown

I would say down. The last action looks like an upthrust to me. I would expect higher volumes and more commitment in order to consider that a breakout.

I suppose a key question is which is the SC - huge downbar at 1335 or the action at 1445? My vote is for the former, but - cough, cough - I've been wrong once or twice before...

Thanks to @rgakalo for starting this thread and to @Mich62 for continuing it!

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  #24 (permalink)
 Mich62 
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QUIZ #3: Answer is Up.

Some very good analyses, thanks to all who have the guts to participate, and learn. It definitely isn't easy. There is no right or wrong. With a winner we get paid well, with a loser we pay a little for learning something we can use the next time.

Markets are fractal and we can see the same patterns on all time frames.

Moves often start with an increase in volume and end with a volume climax as can be seen in this chart.

A high volume bear bar at 13:00 starts the Markdown. After the two high volume bear bars at 13:45 price starts to go sideways forming a range which can be characterized as Accumulation. The 2nd bar had a little more volume (first circle) but look at the range compared to the prior bar (E/R). Selling is absorbed by the buyers.

Next at 14:45 a break of the lows is immediately bought printing a Spring (downward breakout failure). The volume on the spring is the highest since the start of the Markdown and price should continue downwards. The lack of continuation shows there are no sellers anymore below and buyers stepped in. Some might call it stop running. Look at the range of the bull bars compared to the bear bars after the spring (Ease of Movement).

The Spring is followed by a Test making a higher low. After the Sign of Strength (SOS) we see a pullback (BU/LPS), a classic 'Backup to the Edge of the Creek' (BUEC). We now have enough evidence to go long for the Markup. We can use a tight stop below the last swing low. Targets can be VWAP, PRL (Prior Range/Day Low) or, like in this and many other cases, the VPOC. Good for 35 ticks.


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  #25 (permalink)
 58LesPaul 
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Thanks for doing this Mich, I really enjoy them! My result was correct but my analysis was a little off and not as thorough as yours. Maybe next quiz I'll try to markup the chart instead of trying to analyze on my phone.

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  #26 (permalink)
 58LesPaul 
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Sorry I forgot there were more than one person posting these quizzes. Thanks to you too rgakalo for starting this thread!



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  #27 (permalink)
 Mich62 
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Quiz #4: Up or down? What is the story this chart is telling?


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  #28 (permalink)
 58LesPaul 
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Mich62 View Post
Quiz #4: Up or down? What is the story this chart is telling?



Some may see something obvious on this one but I can see a case both directions.

Buying Climax and Upthrust, 3 sharp down bars on higher volume, weak volume on rallies.

On the other hand, price holding on the upper half of the BC bar, no follow through after the 3 big down bars on high volume. This could very well be absorption or reaccumulation. 3 wide range bars on the right edge of chart show strength. The last bar is tricky, shows weakness but closes near the middle but the bar previous to that one tells me no supply. Then buyers let it fall to pick off weak holders, then bought to hold price up.

I'm gonna say up on this one.

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  #29 (permalink)
 buylosellhi 
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this is a great fun thread
i'd say most likely down, but this obvious distribution could still turn into accumulation as its not broken the range yet (testing the low of 2nd bar from the big up bar)

ideally, a small reaction to test the range thats just before the last bar and then the low of this last bar could be a great short
Quiz

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  #30 (permalink)
 casey44 
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Mich62 View Post
Quiz #4: Up or down? What is the story this chart is telling?


Ah, another dexterity exercise, fun, first thought rather be long than short, have small bounce off a broadening formation in a price zone where buyers have been before...

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