Wyckoff Analysis
Started by
marco
, Oct 31 2008 07:24 PM
7 replies to this topic
#1
marco
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Posted 31 October 2008 - 07:24 PM
Anyone here do Wyckoff analysis?
Are we anywhere near jumping the creek?
Where's Semi when we need him?
#2
humble1
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Posted 01 November 2008 - 02:16 AM
you can get the wyckoff lesson book from your local bookstore or library or on-line. it's pretty simple stuff and why not learn it yourself and see how you do using it as your chief analytical tool?
the guy i knew thirty years ago who did that had holes in his shoes and finally could only paper trade, but maybe he let ms. market trick him at the crucial points - who knows.
try it and see how it works for you!
#3
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Mark S. Young
Posted 02 November 2008 - 07:47 PM
In my experience, you could give most folks tomorrow's WSJ and they'd find a way to lose money with it.
Mark
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#4
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Mark S. Young
Posted 02 November 2008 - 07:51 PM
My analysis of the 60' ES chart volume:
We had a very nice Bullish spring going into Monday's low.
We're chopping around near resistance but my read is that we need a few hours of low volume pullback/chop to gather steam to jump the creek. At least, that would be the lowest risk set up.
Mark
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#5
Funky Monk
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Posted 02 November 2008 - 09:23 PM
In my experience, you could give most folks tomorrow's WSJ and they'd find a way to lose money with it.
Mark
"i always say that you could publish trading rules in the newspaper and no one would follow them. the key is consistency and discipline. almost anybody can make up a list of rules that are 80% as good as what we taught our people. what they could not do is give them the confidence to stick to those rules even when things are going bad."
~richard dennis
from jack schwager's "market wizards"
fwiw
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fwiw
#6
marco
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Posted 02 November 2008 - 10:31 PM
My analysis of the 60' ES chart volume:
We had a very nice Bullish spring going into Monday's low.
We're chopping around near resistance but my read is that we need a few hours of low volume pullback/chop to gather steam to jump the creek. At least, that would be the lowest risk set up.
I can see that.
Mark, where do you think the creek is -- 985, 1045, or something else?
#7
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Mark S. Young
Posted 03 November 2008 - 08:15 AM
970-ish, 980-ish, 988, 1008, 1054 are all resistance levels. I think that the 980-988 area is the primary resistance in play here.
1090+ is the ultimate target for this leg, I think.
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#8
mss
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Posted 03 November 2008 - 08:57 AM
FWIW
[attachment=8690:spx1103.jpg]
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
