Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

CL

 

attachment.php?attachmentid=35630&stc=1&d=1364986941

 

After a LH Yesterday prices are at the top of the TC and near S at 96. The LOLR is still up, but the trend can stall at any moment.

 

Longs: Too late

Shorts: Not yet

 

NQ

 

attachment.php?attachmentid=35631&stc=1&d=1364986941

 

After redefining Aug-Sept TR I found that the top of that TR coincides with the R level we have been hitting in the last few weeks. And is precisely the level we are at today. The LOLR is still up as we are within the TC and below the MP.

 

Longs:Buy a breakout of PDH

Short: Not yet

5aa711d475df4_CL05-13(1440Min)04_04_2013.thumb.jpg.2285879547080e0294bf346598e870ea.jpg

5aa711d47eaed_NQ06-13(1440Min)04_04_2013.thumb.jpg.49428db46f88924dca7bf02b82a75fd9.jpg

Share this post


Link to post
Share on other sites

CL

 

attachment.php?attachmentid=35633&stc=1&d=1364988796

 

We are currently within a TR above the top of the previous weeks TC. So far sellers have been able to withhold buyers advance and the LH from yesterday´s afternoon is a new sign of weakness.

 

Plan:

 

Buy a REV at the bottom of the TR, sell a RET after the BO of the bottom of the TR.

Buy a REV at the MP of the TR.

Short a REV at the Top of the TR, buy a RET after the BO at the top of the TR.

 

NQ

 

attachment.php?attachmentid=35634&stc=1&d=1364988796

 

After a failed attempt to break above PDH the market made a RET towards the MP of the last upswing. The fact that sellers could not get below the 50% mark and inside the TR area is a sign of strength in a market in which the LOLR still up.

 

Plan:

 

Buy a break of PDH

Buy a REV at PD MP

Buy a REV at PDL

 

Short a REV a PDH

Short a Break below PDL

5aa711d494556_CL05-13(60Min)03_04_2013.thumb.jpg.b435bd523b3e4cee8f6db9f4d8814166.jpg

5aa711d49dec7_NQ06-13(60Min)03_04_2013.thumb.jpg.3884f3ea0a89e1289f8ef786c3d885e9.jpg

Share this post


Link to post
Share on other sites
Yes, except that your upper line starts where you have your circle. It does not extend to the left.

 

"except that your upper line starts where you have your circle. It does not extend to the left"

 

yes i understood, thank you

Share this post


Link to post
Share on other sites

Db,

 

Regarding S/R levels for TIF, I think I see you are using previous swings to define levels, I often ignore the swing highs or lows and focus on the TRs. I guess is because you are referring to levels that formed during the trend or perhaps I got it all wrong.

 

Nice aftermarket analysis, the question I made to mayself around 12:00 today was why bother closing any of the short trades until noon if the TL was never really broken.

Share this post


Link to post
Share on other sites
Db,

 

Regarding S/R levels for TIF, I think I see you are using previous swings to define levels, I often ignore the swing highs or lows and focus on the TRs. I guess is because you are referring to levels that formed during the trend or perhaps I got it all wrong.

 

Nice aftermarket analysis, the question I made to mayself around 12:00 today was why bother closing any of the short trades until noon if the TL was never really broken.

 

If there's something obvious, I can plot it ahead of time. More often I'll see price choking at a certain level and I'll swing to the left to see if there's something that might be responsible. I don't draw a line; I just look. But when preparing these charts for posting, I have to draw the lines. Otherwise, almost no one will understand why I did what I did when I did it where I did it.

 

Nor do I draw any of the other lines. But I've been doing this for a long time.

Share this post


Link to post
Share on other sites

The problem with a low IQ is that it takes time connecting the dots :crap:. I finally understood the thing about finding s/r on the go. Thanks.

Share this post


Link to post
Share on other sites

Altho it's not just a matter of lines. If, for example, buyers keep reaching and can't make any progress or hold onto their gains, the probabilities shift toward the downside. This was particularly true today. Failure to make a higher high, failure to follow through. This is why the trader must watch price moving and not just sit around waiting for some bar to "close" or "change color".

Share this post


Link to post
Share on other sites

CL

 

attachment.php?attachmentid=35649&stc=1&d=1365072784

 

After buyers failed to break above the MP of Jan-Feb TR sellers came in strong to take prices back inside the TC, we are still in an uptrend and the MP of the last upswing still holds.

 

Buy: Upside REV at S with a shoestring stop.

Short: No

 

NQ

 

attachment.php?attachmentid=35650&stc=1&d=1365072784

 

After a strong REV from R at 820 prices found S at 780. As prices are still within the TC the trend remains up but buying pressure has been fading for the last 3 months, so cautious bullishness is the way to go.

 

Buy: REV at S with stop at PDL.

Short: No

5aa711d51c5ca_CL05-13(1440Min)05_04_2013.thumb.jpg.2788619e7e35e7a40944bde19be4aeaa.jpg

5aa711d522826_NQ06-13(1440Min)05_04_2013.thumb.jpg.18dba5b30404ac84867479e1c9db7591.jpg

Share this post


Link to post
Share on other sites
DbPhoenix,

"supply and demand line"

 

do you think it is a clue to identify turning point,secondary reaction,the law of supply and demand?

 

The chief purpose of these lines is to identify the relative strengths of supply and demand. If buying pressure is greater, the demand line will track the stride (/). If selling pressure is greater, the supply line will track the stride (\). If either line is broken, the break may signify an oversold or overbought condition or the break may signify a change in stride, even a turning point. The trader has to be ready for either.

 

As for secondary reactions, one line or the other will of course be broken since the secondary reaction is a reversal.

 

Wyckoff called them Support, Supply, Overbought, and Oversold lines (see Section 15). I've simplified them a bit and use only Supply line and Demand line.

Share this post


Link to post
Share on other sites

You may have to choose between oil and the NQ until you get this down. If whatever market is twisting and turning, you really have to focus on the price movements. If your attention turns to the bars, you will easily get lost.

Share this post


Link to post
Share on other sites
From the journal thread

 

Carefully define the setup (the set of circumstances which you define which triggers an entry) which implements this strategy, preferably using old charts (attempting to define the setup by studying realtime charts is inefficient since you don't yet know what it is that you're looking for). This is called "backtesting". All else flows from this. Unless you know what you're looking for, you cannot test it, much less screen for it. If you have not tested it, you have no idea of the probability of its success. With no idea of the probability of success, any trades made are essentially guesses.

 

 

 

I am going to take a step back and do this part properly with what i think i have, i will test it on oil, as i feel more comfortable on it. Thanks for all the help.

Share this post


Link to post
Share on other sites

The point of a retracement is to give new buyers the opportunity to jump in, which propels the price forward. If they're not jumping in, and you're already in, what are you doing just sitting there?

 

If they don't jump in, then you've got a hinge, and you don't want to be sitting inside one of those, either.

Image4.png.2ade97d1de2868d974ac14f0efa4820f.png

Share this post


Link to post
Share on other sites
Don't know what you mean by "link". It's Section 15 of the course, p. 5. If you have not yet downloaded the course, see the Stickies.

 

i am so sorry DbPhoenix, but all i have are

 

"Wyckoff method of trading and investing in stocks book"

 

and i am looking if there are any thread have more details or charts explaining supply and demand line

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By vishnux
      Hey guys , what are the main things you look for to detect if the consolidation area is accumulating or distributing ? 
      1 ) I see springs in top , still markup happens and it becomes accumulation area and vice versa
      2) There is lots of volume absorption in support line and still markdown occurs.
      3) sometimes in market high / low it becomes re-accumulation  / re-distribution
      Is there any clear way to find it ? 
    • By millonmethod
      Hello everyone!
      I am an advanced trader, with many years of experience (about 15 years - 10 living exclusively from this)
      I am going to give you some tips that you must know:
      There are going to be many people who tell you that trade is easy, that with only crossiing a line  with another one you will win a lot of money.... and that´s not true.  No, Sir, reality is far away from that. Many people who start arrive here with the hope that someone "gives them" a free method, they watch youtube videos thinking that this will give them the "strategy" and in a few days they realize that it does not work for them - they lose money - and then They go looking for a new one ... and so on. YES, IT´S TRUE YOU EARN IN TRADING, A LOT. BUT THINK: for a few to win (10% + any BROKER) many others must lose (90% people). YOU MUST HAVE A MONEY MANAGMENT FORMULA ( you can email me) People study so many years to live on this, not because they are dumb, but to know what they do, when, and have absolute effectiveness. It´s very easy to get lost here: do not disperse, jumping from one to another strategy WILL NEVER give you money, it will only waste your time and make you nervous when trading. PEOPLE WHO CHANGE THEIR METHOD CONSTANTLY : LOOOOSE ALWAYS.   If you have the knowledge to develop it, take your time and do it.  Always try it first on DEMO for at least 2 weeks! If not: search to buy a solid strategy (no you tube videos pleassse ! Avoid losing money! ) This is like any business, it requires some capital to start (capital = money in the broker + solid made /purchased strategy) If you are lost: I RECOMMEND YOU NOT TO WASTE TIME IN YOUTUBE, JOIN PEOPLE WHO HAVE EXPERIENCE AND IF YOU ARE GOING TO BUY A METHOD ... PLEASE !!!! DO NOT BUY 10 BAD AND CHEAP METHODS, SAVE MONEY AND BUY ONLY 1 BUT EXCLUSIVE AND MUST ALLWAYS HAVE SUPPORT !!!!!  Do not buy Signals! They never keep up with constant profits! One week will win and the next will lose. Nothing that does not depend absolutely on you will give you the money you are looking for. And if you do not have a strategy (made or purchased) do not even try PLEASE PLEASE PLEASE: DO NOT USE REAL MONEY! AT LEAST 2 WEEK DEMO FREE HELP HERE!!!!!  IF YOU FOLLOW MY ADVICE YOU WILL BE PART OF THAT 10% WINNER, email me.
      Have a nice trading day
       
       
  • Topics

  • Posts

    • $ARRY Array Technologies stock great day off the 10.96 double support area, from Stocks To Watch, https://stockconsultant.com/?ARRY
    • $MSFT Microsoft stock back up top of the range, breakout watch , https://stockconsultant.com/?MSFT
    • GBTC Grayscale Bitcoin stock top of range breakout watch , https://stockconsultant.com/?GBTC
    • $FSLR First Solar stock nice bull flag breakout, from Stocks To Watch, https://stockconsultant.com/?FSLR
    • Date: 22nd May 2024. UK Inflation Drop Boosts GBP, But Analysts See Correction Signals. The NASDAQ forms its 5th bullish wave resulting in the index trading 8% higher this month alone. Investors are waiting for NVIDIA’s earnings report. The market awaits the release of the latest FOMC Meeting Minutes for further indications on the potential rate adjustments. The US Dollar Index declines to a 7-week low, but can tonight’s Meeting Minutes change the trend? Read below what economists are predicting. UK inflation declines from 3.2% to 2.3% in its largest drop since December 2023. The Pound increases as the inflation rate did not decline to 2.1% as previously GBPUSD – UK Inflation Drops But Does Not Meet Previous Expectations! The GBPUSD is trading 0.30% higher after the release of April’s UK inflation figures. The US Dollar and the Japanese Yen are the worst performing currencies of the day. Traders looking to speculate a rising Pound may benefit from these weakening currencies. The GBPJPY is trading 0.47% higher so far. However, investors should be cautious of any change in price action as the next session (European Market) opens. The UK’s inflation figure fell from 3.2% to 2.3% which is the largest drop in 2024 so far and brings the Bank of England closer to its target. This would normally pressure the currency, but there are some factors which have triggered a bullish Pound. This includes the Core Consumer Price Index which fell from 4.2% to 3.9% instead of falling to 3.6% which were the previous expectations. Also, certain sectors did not see a decline in inflation in April, which is a continued concern. For these reasons, investors have increased their exposure to the Pound, supporting the currency. Also, economists are advising that the weakening inflation rate can increase investment demand which also further supports the country’s economy and subsequently the currency. Furthermore, investors will also need to take into consideration the price condition of the US Dollar individually. Dollar traders will be focusing on tonight’s Federal Open Market Committee’s Meeting Minutes. The market will particularly be looking for clarity on how many adjustments are likely in 2024, if any at all. In addition to this, if an adjustment is likely in July, September or later in the year. If the report indicates less cuts and a delay, the US Dollar potentially can witness further demand and a change in trend. This is something which was particularly seen in April 2024. The price action of the GBPUSD is forming a bullish trend and most trend-based indicators are signalling a higher price. However, there are signs that the price may correct back to the previous range. For example, on the 4-Hour chart the price is witnessing a divergence signal. in addition to this, the price is also trading at a significant resistance level from November, December and January. Though, for the resistance level to become active, the Dollar will likely require support from the upcoming Meeting Minutes. In the short term, sell signals are likely to materialize after crossing 1.27400 and 1.27268.   USA100 – Bullish Trend, But Investor Focus On Meeting Minutes & NVIDIA Earnings The NASDAQ saw a decline in the price as the US Open was approaching, however, the price momentum quickly changed when US investors started trading. The index rose 0.30% by the end of day and was the best performing US index. During the US Session 62.5% of stocks holding a weight of more than 1.00% rose while 37.5% fell. The main price drivers which supported the upward price movement were Microsoft, Alphabet, Apple, NVIDIA and Netflix. Investors will closely be monitoring the upcoming earnings report for NVIDIA, but also the FOMC’s Meeting Minutes. A more restrictive monetary policy can pressure the stock market, but the level of pressure and downward price movement will also depend on the results of NVIDIA’s earnings. Additionally, shareholders will also focus on Intuit’s Quarterly Earnings Report tomorrow evening, but this will have a lesser effect compared to NVIDIA. A concern for intraday traders is the decline in indices around the world in markets which are currently open. For example, the DAX, FTSE100, CAC and Nikkei225 are all trading lower. In addition to this, the US 10-Year Bond Yields are trading 0.0027% higher which is additional pressure on equities. Nonetheless, technical analysis in the medium to longer term continue to point to a continued upward trend. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.