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Old 04-17-2008, 09:05 AM
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Re: Riding the Wyckoff Wave

Going back to post 122 above and what I'm looking at on the NQ, I'm posting a chart of what I actually am looking at (which isn't BigCharts). This may be tangential to the discussion, but without real people making real trades in real markets off real charts, it all becomes the usual hypothetical, philosophical discussions that become interesting but irrelevant and push people toward Miracle Software ("Anybody Can Do It!").


Note that after bouncing off long-term support, price consolidated between the bottom and midpoint of the first range. It then stalled and formed a hinge at the bottom of the next range. It then consolidated again at a line which has served as both support and resistance all month. Then to the midpoint of the range created on the 8th and the bottom of the range which preceded the cascade. Overnite, we reached 1870, the top of this range. Whether we reach 1880 or not remains to be seen. If there's no buying climax, I'll be looking at pretty much what Nic posted, though I'll scale out as usual under these circumstances.
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