[notouch]

PivotProfiler, I think the multiple time frame approach is key. If you relied on VSA using only the 5 minute charts they you would get squashed on a regular basis. The bar I referred to was a bounce off of the daily pivot I believe whereas the one you highlight was a bounce off of R1. Obviously with hindsight we can see that R1 held but the pivot didn't. In real time that would have been a lot more tricky if you had been using only the 5 minute charts. A problem I see is that there will almost always be high volume supply followed by a bounce near a pivot (assuming you're looking for longs). Wouldn't just placing a limit order at pivot levels be a better strategy? The trouble with multiple time frames and waiting for bars to close is that you'll be late for many moves.

[Anonymous]

Again, I do not recommend the software nor do I like it.

Just get your facts correct.

Tom Williams first wrote the book called "The Divine Secrets of the Stock Market". TG bought the rights and changed the name.

Tom's first software was called Wyckoff VSA, the precursor to Tradeguider.

These are the facts and are not hidden by them. The book , "Master the Markets" has images from the origianl software with Wyckoff VSA clearly labled.

There are 400 signs and none are buy nor sell indicators.

[Anonymous]

HORUS;

If you have a problem with TG, I can give you Todd's or Gavin's home number so you can take it up with them.

As for this thread we do not need it.

Since you know soooo much about what does not work, why not start a thread about what DOES work?

[Horus]

I dont use TG and dont recommend it either.

What docent work is just as important what does work. I think its fair to say that its important to hear about both sides of every approach. This is an open forum.

[torero]

Back to bidness. I got a view of the ER2 and YM weekly chart here and the last few bars showing interesting volume. PP or anyone want to take a try at this one. My interpretation is that the volume is drying on the bulls and more on the bears. My take that is if the next WRB with high volume, it's confirming in the downtrend?

[port80]

I have nearly finished reading master the markets and I'm very intrigued. Here is a stock I was hoping folks could comment on. I am very new to this so please forgive my ignorance.

KNDL is a stock that showed up on my float analysis. It has a float of about 12 mil. It has had some interesting activity that I was hoping I could get some help with.

For the last few days it has been trading in a channel and yesterday as it approached a trend line there occurred what I thought was a failed test. But today I can see that the trend line was broken with sideways activity. So I could definitely use some help on interpreting this chart.

I have to say that after reading this book it's like somebody open the blinds in a dark room and let the light in. I don't think I'll ever trade the same way again.

The first chart is a 3 month daily chart with my interpretations (probably wrong). The second chart is a 10 min chart where the short term trading channel was broken. It's hard for me to tell whether accumulation or distribution is going on. Something definitely seems to be happening.

Thanks, Alan

[Anonymous]

Port80, welcome to the thread and the forum.

I have attached a copy of the bar chart with some comments.

Basically, you seem to have a good grasp on VSA. I am a student myself so I could be wrong with what I see.

The first thing to note is the wide spread ultra high volume bar. You labeled it stopping volume. I think it is either stopping volume or a volume climax. More important than the name, however, is the fact that a change in the supply/demand dynamic happened on that bar. The bar is wide with ultra high volume, closed lower than the previous bar, and closed near the high of its range. CLEARLY THERE WAS BUYING (DEMAND) ON THIS BAR. This created a gap which was filled.

I veer off the VSA path a bit to mention that this is a Wide Range Body. Note where the open is (not looked at in VSA, but so telling). Ironically, I think this is an advanced VSA concept despite that they do not look at the open. In other words, if they did look at it, they would logically come to the conclusion WRB analysis comes to. Not to get too far into this, but what I like to see is a set-up (entry signal) happen within the range of the body or the total range of the bar of this ultra wide spread bar. I believe Todd, and Tom would agree with the total range aspect and thus it is more advanced VSA, and not talked about in public forums(webinars) by Todd.

At any rate, we then get a No Supply bar. The bar closes near its low, has a narrow range as compared to the previous bar, closes lower than the previous bar and has volume less than the previous two bars.

You are correct about the test. That is indeed a test of supply that closes in the middle of its range, makes a lower low than previous bar, closes lower than the previous bar. Volume is higher than the previous bar but relatively low.

The bar you labeled as No Supply is incorrect. The volume is not less than the previous two bars. However, the next bar is No Demand. Note that we are at the bottom of the support/resistance zone via the body of that large candle. With a No Demand indication, the Professional Money has to re-test for supply underneath. We thus get another test bar. Here what is of note is the fact that volume here is less than the volume on the first test. This is a sign of market strength.

Note the shaded area. There is something going on here that is beyond the scope of this thread. Suffice to say, there is reason to expect price to move back into this area. But even without that concept, one would be looking for a move back to "test" the close of that large Ultra Wide Spread bar.

How and where you actually enter the market is another question altogether............... That is, it is a personal decision. But the pattern of a No Supply followed by a test, followed by a No Demand, followed by another test on less volume than the first test and with a low less than the first test, is a repeatable pattern.

[Anonymous]

Sorry. That chart does not have the shaded area. This one does.