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Richard Demille Wyckoff Method

  • #81
  • Jul 8, 2012 2:56pm Jul 8, 2012 2:56pm
It is Sunday and liquidity will be out of sync as all sundays. I am not sure if I will be putting a trade on until late in the evening.
Know when to hold em, Know when to fold em!
  • #82
  • Jul 8, 2012 6:13pm Jul 8, 2012 6:13pm
Quoting goods
It is Sunday and liquidity will be out of sync as all sundays. I am not sure if I will be putting a trade on until late in the evening.
Well I have done some analyzing on the EU and I found a possible long attempt on the EU. It has been pretty beaten up and is possibly due for some retracement. We can see on that we have a possible phase C forming a spring: Please reference post #5

Buy @ 1.2262
Initial SL @ 1.2230
Target (unofficial) 1.2380 (remember this can be broken or it could act as resistance) We also manage the trade as the market continues to do what it wants to do.

Remember we need to be realistic, I could walk away with less of a target in mind or I could walk away with a greater profit on this trade. It is all about entering in with the best opportunity available and letting the market ride hopefully in our favor.
Attached Image(s) (click to enlarge)
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Know when to hold em, Know when to fold em!
  • #83
  • Jul 8, 2012 9:55pm Jul 8, 2012 9:55pm
Quoting goods

Buy @ 1.2262
Initial SL @ 1.2230
Target (unofficial) 1.2380 (remember this can be broken or it could act as resistance) We also manage the trade as the market continues to do what it wants to do.
Update:

SL adjusted to 1.2264
I try to always always make the broker eat the spread instead of b/e sl
Know when to hold em, Know when to fold em!
  • #84
  • Jul 10, 2012 7:19am Jul 10, 2012 7:19am
It's hard to believe, but try to sell.
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  • #85
  • Jul 10, 2012 9:28am Jul 10, 2012 9:28am
Well. This is great!
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  • #86
  • Jul 10, 2012 3:05pm Jul 10, 2012 3:05pm
Hello. Very very good thread.
From the challenge and nbt

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  • #87
  • Jul 11, 2012 8:27am Jul 11, 2012 8:27am
tol, great trade! I'm not a Wyckoff expert, neither newbie...I've just a general idea of that but it surely seems a Wyckoff pattern, with a quite evident distribution before the down move. Just to know if I caught this right... please keep on posting charts here, I find them interesting, as well as the fact that many Wickoffians/VSA'ers use bars instead of candlesticks...Personally I struggle every time I put a bars chart, I'm so used to candles...but you think bars are actually better or you just like them? I don't trust all those campaign in favor of candlesticks, I don't think if they were that profitable they would have been publicized so much.
  • #88
  • Jul 11, 2012 9:04am Jul 11, 2012 9:04am
Quoting GiuFab
tol, great trade! I'm not a Wyckoff expert, neither newbie...I've just a general idea of that but it surely seems a Wyckoff pattern, with a quite evident distribution before the down move. Just to know if I caught this right... please keep on posting charts here, I find them interesting, as well as the fact that many Wickoffians/VSA'ers use bars instead of candlesticks...Personally I struggle every time I put a bars chart, I'm so used to candles...but you think bars are actually better or you just like them? I don't trust all those campaign in...
Bars show the same information as candles and it makes no difference which you use.
  • #89
  • Jul 11, 2012 12:14pm Jul 11, 2012 12:14pm
Quoting comapip
Bars show the same information as candles and it makes no difference which you use.
Thanks for the information, I'm not that newbie.But it's pretty much a fact that those kind of traders use mostly bars, and I suppose there could be a reason.
P.S. You would have helped me more answering my actual question, the rest was a personal consideration.
  • #90
  • Jul 11, 2012 1:30pm Jul 11, 2012 1:30pm
I will show a standard template, where there is a candle. Below, the pattern with bars - where only the price. That please, and take it. But, I'd rather look at the template, where only the bars - price. I marked the thin line of 200 MA. This resistance. Here it is often the correct input. The price began training. Today I prepared the bidding for 1 hour.
Attached Image(s) (click to enlarge)
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  • #91
  • Jul 11, 2012 1:44pm Jul 11, 2012 1:44pm
I guess teaching materials use bar charts so people get used to them. Anyway, I don't really look at distribution/accumulation because I find it just hurts my interpretation of charts. I also am not a Wyckoff guru. I mix a few trading styles into something I like.

Distribution occurs after an uptrend and builds a cause for the next move. You have to have a buying climax before any distribution which can be on very high volume or even on low volume. You can't know if it's distribution or buying climax early on. With forex it's harder because there's only tick volume which is ok but not the real thing.

I'd say it's better to focus on understanding the laws of 1) supply and demand 2) effort vs result 3) cause and effect.

There's a good site with a lot of free resources on Wyckoff www.ltg-trading.com
I'd recommend to learn on your own and see if you like this style of trading. There's also an official course on www.wyckoffstockmarketinstitute.com
  • #92
  • Jul 12, 2012 2:31am Jul 12, 2012 2:31am
Thank comapip for your suggestion. I talked about distribution because it's an easy pattern to eyecatch and lately I've been on Consolidation Zones, but then I found Wyckoff and zoomed out my vision ...I've already been collecting Wyckoff and Vsa matherials, I'd start from Wyckoff course and then I'll see if VSA could improve the technique. Anyway, I'm impressed by what you can do simply with the matherial in this thread. I know Goods uses a mixed kind of trading, but I don't know if tol does too. tol, you use a personalized method too, or you stick to Wyckoff pure patterns and etc. I thank you for the answer about bars and candles, it means something, at least I'm not mad.I'll follow your next moves tol, and naturally Goods ones as well!
  • #93
  • Jul 12, 2012 3:11am Jul 12, 2012 3:11am
My recent trading. I do not write, as I do this. I just take the figure from the first page and looking for the same match. And further, I am pleased with his bidding.
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  • #94
  • Jul 12, 2012 3:49am Jul 12, 2012 3:49am
I want to see. The daily chart. At the bottom on the left is our model. Bought. I will wait.
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  • #95
  • Jul 12, 2012 7:14am Jul 12, 2012 7:14am
Minute chart today.
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  • #96
  • Jul 12, 2012 1:15pm Jul 12, 2012 1:15pm
Wyckoff - this is correct.

In the name wrong: Wycoff
  • #97
  • Jul 13, 2012 6:09pm Jul 13, 2012 6:09pm
Quoting tol
Wyckoff - this is correct.

In the name wrong: Wycoff
Toll Thank you for correcting me, my stupid auto correct. Sorry I have not been on much I have been really dealing alot of things on my plate and work has been super busy. I will get some time to talk and discuss through the weekend. Hope you have a blessed weekend so far.
Know when to hold em, Know when to fold em!
  • #98
  • Jul 13, 2012 6:12pm Jul 13, 2012 6:12pm
Tol, I like the way you see the market as well. I think people really need to understand you have to take opportunities as they arise. I also think that people can not expect all of their trades to turn out exactly the way they want them to. That is why I like the Wyckoff method so much because it gives you a very good opportunity at catching a new trend or even a nice retracement.
Know when to hold em, Know when to fold em!
  • #99
  • Jul 14, 2012 9:44am Jul 14, 2012 9:44am
Quoting comapip
I guess teaching materials use bar charts so people get used to them. Anyway, I don't really look at distribution/accumulation because I find it just hurts my interpretation of charts. I also am not a Wyckoff guru. I mix a few trading styles into something I like.

I am getting alot of PM's asking if I can do candle charts instead of Bar charts. I am going to do 50/50 so people get a better idea of how to find the similarities. It is all about where price opens and closes. and the Body of a candle = the body of a bar chart that is it.
Know when to hold em, Know when to fold em!
  • #100
  • Jul 14, 2012 12:49pm Jul 14, 2012 12:49pm
Quoting tol
I will show a standard template, where there is a candle. Below, the pattern with bars - where only the price. That please, and take it. But, I'd rather look at the template, where only the bars - price. I marked the thin line of 200 MA. This resistance. Here it is often the correct input. The price began training. Today I prepared the bidding for 1 hour.
Tol,

I noticed the last 2 charts in here this post on the chart. The last 2 charts and forgive me I can not post them right now, they show that you trade on a larger time frame. I trade on a time frame based on top down analasys, I would have waited for a pullback to see if lower highs would have been made on the hourly then based on the pa of the m15, m5 and m1 I would have bought possibly, however there was a last point of distribution that began to occur on the bigger tf that would have caused me to start looking for areas of selling. I would like to know your confirmation, I use confirmation to see if price failed to reach previous areas to make part of my decisions.
Know when to hold em, Know when to fold em!
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