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Backing Trades Thru Charts

  • #481
  • Apr 11, 2010 3:53pm Apr 11, 2010 3:53pm
Quoting TheLastCoke
Bulls looks unstoppable, If they manage to close above this blue TL, the yellow TL seems like a possible target.

Attachment
I'll be selling by the touch of yellow equidistant channel.
  • #482
  • Apr 11, 2010 4:28pm Apr 11, 2010 4:28pm
Quoting TheLastCoke
I'll be selling by the touch of yellow equidistant channel.

#223531
  • #483
  • Apr 11, 2010 6:35pm Apr 11, 2010 6:35pm
This is the whole story:

#452 #453 #467 #473 #475 #477

Attached Image (click to enlarge)
Click to Enlarge Name: yellow.gif Size: 16 KB
  • #484
  • Apr 11, 2010 6:49pm Apr 11, 2010 6:49pm
Quoting TheLastCoke
I'll be selling by the touch of yellow equidistant channel.
Hi TheLastCoke, great charts you have in here, I've been a silent follower for a while. On a trendline touch like this one, can I ask you what kind of stop you are using? Thank you.
  • #485
  • Apr 11, 2010 6:57pm Apr 11, 2010 6:57pm
Quoting OGW
Hi TheLastCoke, great charts you have in here, I've been a silent follower for a while. On a trendline touch like this one, can I ask you what kind of stop you are using? Thank you.
Tight SL, High RRR. Can't tell you by pips but I'll risk .5% or 1% on this one.
  • #486
  • Apr 11, 2010 7:04pm Apr 11, 2010 7:04pm
Quoting TheLastCoke
Tight SL, High RRR. Can't tell you by pips but I'll risk .5% or 1% on this one.

Thank you. OK, when do you consider the trade to have failed? A close beyond the trendline on some time frame or even just a breach of the trendline?
  • #487
  • Apr 11, 2010 7:06pm Apr 11, 2010 7:06pm
Quoting OGW
Thank you. OK, when do you consider the trade to have failed? A close beyond the trendline on some time frame or even just a breach of the trendline?
4H candle to close above.
  • #488
  • Apr 11, 2010 7:09pm Apr 11, 2010 7:09pm
Thank you for sharing your knowledge, it is very appreciated.
  • #489
  • Apr 11, 2010 7:14pm Apr 11, 2010 7:14pm
Quoting OGW
Thank you for sharing your knowledge, it is very appreciated.
No problem buddy. A pleasure.
  • #490
  • Apr 11, 2010 8:34pm Apr 11, 2010 8:34pm
Quoting TheLastCoke
Richard Wyckoff was a trader from the 1920s. He wrote several books on the Market, and eventually set up the "Stock Market Institute" in Phoenix.

Phase A is characterized by a prolonged decline to "preliminary support" (PS on the chart), which provides temporary relief before the "selling climax" (SC). That climax is accompanied by sharply expanding volume as weak holders bail out in a panic. The climax is followed by an "automatic rally" (AR), suggesting the selling has been exhausted, and then a "secondary test" (ST) of the climax...
Phase C completed.

Attached Image (click to enlarge)
Click to Enlarge Name: phase c.gif Size: 17 KB
  • #491
  • Apr 11, 2010 9:04pm Apr 11, 2010 9:04pm
Quoting TheLastCoke
Phase C completed.

Attachment

This is good stuff.
Thanks LC
  • #492
  • Apr 11, 2010 10:24pm Apr 11, 2010 10:24pm
Can you please let me know where can I find more information about these different phases along with its definition? This is great stuff!

Thanks
  • #493
  • Apr 11, 2010 10:43pm Apr 11, 2010 10:43pm
Quoting meovn63
Can you please let me know where can I find more information about these different phases along with its definition? This is great stuff!

Thanks
Here you go.

Attached File(s)
File Type: pdf MTWyckoffSchematics.pdf   1.1 MB | 711 downloads


Let me know if you come out with a new idea.
  • #494
  • Apr 11, 2010 10:46pm Apr 11, 2010 10:46pm
Thank you very much!
  • #495
  • Apr 12, 2010 12:04am Apr 12, 2010 12:04am
Quoting TheLastCoke
I'll be selling by the touch of yellow equidistant channel.
This is it.

Attached Image (click to enlarge)
Click to Enlarge Name: touch.gif Size: 18 KB
  • #496
  • Apr 12, 2010 7:07am Apr 12, 2010 7:07am
Quoting TheLastCoke
This is it.

Attachment
G/U closed gap. I'm out in both trades. E/U +100, G/U +70 Clean trades, no drawdown.

Attached Image (click to enlarge)
Click to Enlarge Name: money2.JPG Size: 16 KB


Attached Image (click to enlarge)
Click to Enlarge Name: touch3.gif Size: 17 KB


BTW I won't be able to keep posting as often as before but I invite everybody to keep this thread alive.
  • #497
  • Apr 12, 2010 7:59am Apr 12, 2010 7:59am
To keep in mind #223253
  • #498
  • Apr 12, 2010 8:34am Apr 12, 2010 8:34am
I'm Flat in most pairs #224130
  • #499
  • Apr 12, 2010 11:20am Apr 12, 2010 11:20am
Buy limit at .3542 based on S&R, channels and fibos. Gap as SL (adjust accordingly to your MM). Target .3780. RRR= 4:1

Attached Image (click to enlarge)
Click to Enlarge Name: buy limit.gif Size: 20 KB


Template Included

Attached File(s)
File Type: tpl buylimit.tpl   18 KB | 425 downloads
  • #500
  • Apr 12, 2010 11:59am Apr 12, 2010 11:59am
How healthy is this down trend?

Attached Image (click to enlarge)
Click to Enlarge Name: down trend.gif Size: 17 KB
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