Judging the Market by its own Action

HI


will post trades and analisis based on wyckoff logics
by reading charts via price action and volume aswell as background and location

i will keep this short as there is way too much about that topic, i guess it will get clearer when this journal unfolds ... nevertheless if any questions arise i will gladly answer them...

here is a setup i took at EU and where i want to see a new setup developing in order to take a new trade

please be aware that i trade based on daily charts .. so the journal updates wont happen that frequently as i only trade major pairs ... patience is key !

Possible Setup in the making?... we will see..

a lil update on EU



bulls have to show there hands now after supply hit the market..

but looks like previous signs of strenght hold.. as it looks like the bulls buy into weakness...

well NZD setup didnt unfold.. lets look for the next one ..


EU sees alot of supply entering in the form of bearish outside bars.. however the market doesent respond with further downward progress.. there is a buying into weakness going on... me thinks ..

even the actual NFP numbers didnt hurt EU that much today! with such signs of weakness in the background ? no new lows! .. hmmm i think we see a stronger getting market here.. however no long trading on EU till does supply bars are taken out with Demand....

some analysis .. past to present...

wow .. takes some time till setups worthwhile taking unfold.. while infront of PC
hence daily TFs.. however will do live videos from daytrading EU soon..

while still playing Daily TFs..


USDCAD = long ( rangeplay .. )

I'm interested in sharing some ideas with you on the methods you are using. I am learning about Wyckoff's strategies, as well as volume spread analysis, and price action trading.

I hope you are still active with this, but I don't see any posts for a long time here.

HI PD


yea been a while .. lol , posting on another network .. atm


here is the most recent analysis i made...

happy to share thougts with you.. just post your analysis aswell..
happy to contribute and share knwoledge.. aswell as exchanging views.. with you


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http://i.imgur.com/ciwf1.gif
broken thru demand line from a up trend channel (weak)

finds support + tests a demand line from a bigger up channel

broken demand line gets retestet and confirmed weakness

formed a down channel

however we never tested the oversold line as we are trading at support
and a demand line of a bigger up channel bulls defending this area def.

looking for a setup (long) to at least anticipate a retest of supply line
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http://i.imgur.com/XkfIu.gif

trading within a down channel

we saw some stopping action in form of a shakeout @ oversold line

we retest the shakeout and we see no follow thru from the big downbar

we rallie back to supply line
where we saw supply entering again
carefull now !
this bar is a red flag .. and has to be taken out!

we first want to see the down channel broken before considering any longs!

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http://i.imgur.com/cIP2N.gif
within the channel we see clearly supply is in controll
as volume increases on downswings and decreases on rallies(reactions)

aswell as the bar ranges on ralliues a narrow whilest the downbars are wide!

this starts to change after the shakeout @ oversold line

the shakeout gets retestet on drieng out vol. ie no selling pressure

while spreads get wider and vol increases on the rallie torwards the supply line

wich is a sign of strenght..

so at this point i would rather want to see the channel broken to the right and anticipate a long setup.. then trieng to short @ supply line.. due to teh change in behaviour and the signs of strenght!

conclusion:

we are approaching a strong level of support and a demandline from a bigger upchannel

we see some sogns of change in behaviour aswell a some signs of strenght entering the market at a critical level for bulls

however

we need to see the downchannel broken thru the right and some further signs of strenght (within a TR perhaps?)

i would love to see 15400ish area to hold support and unfold PA to confirm
a long
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http://i.imgur.com/2EGMu.gif
follow up on GBP/USD

we have broken thru the downchannel , notice that the vol. is high and increased on the break! .. as we need to see demand in order to overcome supply !
aswell as this gives us the hints that quality of demand is good..
sign of strenght

so however we actually moved up pretty quick ie wide spread upbars..
i actually excpected a range .. but then again we traded on an important level for the bulls.. so that fast rise didnt come unexpected

now we are evolving an upchannel.. where best positions (high probability/low risk) to go long is on the demand line of the channel..

with the recent signs of strenght.

1. broken thru down channel
2. high volume on rallies low on reactions
3. wide spread up barsnarrow down bars
+ broken thru small range +succesfull retest

+ trading @ support level and demand line of a bigger channel..


we can speak of strenght returning into the market.. so we can participate a bull run.. so only long positions are what i would trade.. i allready missed to enter on teh retest of previous resitance .. due to my 9-5 job.. but hey the market will be there forever but how far will it go ?

first trouble area .. 1.5700ish (trading @ the moment)
then 1.588ish i expect a reaction on that it will be a confluence with the supply line of an actual down channel and a prev. support level!

however we never really went to the oversold line on the actual low
wich adds to the recent strenght
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actual analysis of swissy


we traded at resistance.. where we have a distribution phase .. ala wyckoff (no BC thou)
now trading ie. restesting broken ice (supportish area).. iam rather looking
for short setups.. but with crystal clear PA at the edge.. of the retest..

else i skip

short Swissy


lets see if those soldiers will survive

stopped out! AT BE+

cheers

Pryme Tyme,

your realtime and detailed short term analysis, reading every single bar, is what suits me and most impatient people on here, and I see this fast interpretation style to be correct and precise.

I just want to call out that of these images you provided, I have been learning more than on most other threads on here. I have saved all your images and consider them to be jewels.

From 1month to 1minute, I see every single bar being related to each other the way you described, including momentum/ tick count.

People, learn this style!