[Head2k]

My 2 cents:
First you need to define what do you mean by agreement. If you mean same bias then then yes, the greatest agreement is on the rise, but with low volume. If almost everybody has bullish bias there will be only little supply, so price will rise easily on low volume.

But I think that it is more usefull to define agreement as agreement on value rather than bias. This way the agreement represents balance. Hinges or ranges may start with a tug-of-war, but eventually they come to a point where there is no more traders willing to make a trade in that particular price zone, for the time being. This is basically what auction theory says.

[HAKUNA]

Head2k,
I am not a novice, you are still in learning process and paper trading. wish you would stop jumping in everytime I pose a question.
I understand both VSA and Wyckoff, and yes also have Dalton's book on auction theory etc, i.e have been around the block

am just trying to get some clarification from Db.
Have just had just about enough of people telling me to read a book, go this thread or the other, define what I mean by this or that.
Just looking for simple straight forward answer to straight forward question.

If one part is correct say yes, if the other is not correct, point out that statement which you or anybody thinks is not correct and most importantly Why do you think it is not correct.

certainly not looking for broad, general sweeping statements which sound profound upfront but is basically full of hot air.

[DbPhoenix]

I agree with Head. The "agreement" in a hinge has to do with value, not with direction. The hinge is created because traders are looking for value, or "equilibrium". Whether price will then rise or fall is generally unknowable, though beginners devote a great deal of time trying to figure out how to predict direction. They have an extraordinarily low tolerance for uncertainty, and the idea of being prepared for all contingencies is for some reason unacceptable.

If the hinge takes place at a support level, it can signify a reversal, but it can also signify a continuation. And though you won't have any trouble finding people who will provide all sorts of hindsight examples of how obvious it all is, or was, recognizing this in real time -- much less acting on it -- is a different kettle of fish. If someone is willing to point these things out in real time, and they're also successful at it, fine. Otherwise, it's all just more guruspeak.

So how do you know what to do? You don't. You never do. But you can learn to assess the probabilities and prepare a set of decisions based on whatever contingencies you can conjure up. Then, no matter what happens, you'll be on the right side of the trade.

As for three, the wider the bar, the more disagreement there is. But if price is rising, there's more buying pressure than selling pressure. If by "with volume" you mean that volume is also high, that's not particularly relevant. High volume simply means that there's a lot of trading activity. But it's the change in price that yields profits, not the level of volume. You'll read that "big volume" is a benefit on price moves, but this is not the case. Price can move to a considerable extent on very little volume. Big volume -- that is, an expansion of trading activity -- is more likely to be a factor when price gets into trouble, such as at support or resistance (that is, genuine support or resistance, where prior levels of trading have been heavy).

[DbPhoenix]

Originally Posted by HAKUNA »

Head2k,
I am not a novice, you are still in learning process and paper trading. wish you would stop jumping in everytime I pose a question.
I understand both VSA and Wyckoff, and yes also have Dalton's book on auction theory etc, i.e have been around the block

am just trying to get some clarification from Db.
Have just had just about enough of people telling me to read a book, go this thread or the other, define what I mean by this or that.
Just looking for simple straight forward answer to straight forward question.

If one part is correct say yes, if the other is not correct, point out that statement which you or anybody thinks is not correct and most importantly Why do you think it is not correct.

certainly not looking for broad, general sweeping statements which sound profound upfront but is basically full of hot air.

A completely unnecessary post and an apology is in order. Head sought just the sort of clarification that was necessary since your question was unclear as to the meaning of "agreement". Second, you may not be a novice, but you ask the same questions that a novice would ask. If you don't like the answers, you're welcome to continue searching for someone who will tell you what you want to hear. That's how gurus stay in business. But if you "understood Wyckoff", you'd know that he isn't going to tell you how to predict price movement (as for VSA, I can't say since I don't know what VSA is doing these days).

If you're trying to reconcile VSA and Wyckoff, I can understand whatever frustration you may feel since the two are essentially incompatible. But don't take out that frustration on those who are trying to help you.

[HAKUNA]

I think Db, by this time everybody and his brother is aware of your strong views on VSA, I personally am not too enamoured with TG marketing etc, but it is time to chill out somewhat.

I will try to keep as civil as possible

1. I have posed few questions before and they have been directed to you, and same happened.

2. To you the post appears as if the questions are from a novice, how do you come to that conclusion.

3. Where in the post 155 do you read that I am attempting to reconcile VSA and Wyckoff, VSA is not even mentioned there.

4. Which part leads you to say that I am looking for predicting the price or which way a hinge is going to break out.

Think you are reading far more into some very simple straightforward questions than is necessary.

5. I have read somewhere on the wyckoff forum regarding agreement etc, don't really want to pull up the exact posts and start a debate on that.
thanks for whatever explanation you have given

[MRW]

Just looking for some feedback on the way others deal with this sort of thing.

Before the U.S. opening, I have always looked at the way the overseas markets performed, news headlines, fair value on the S&P, and noted any economic reports to come out that day. Then during the day, I have an audio news service that brings headlines from Reuters, Bloomberg, etc - this is mostly crap and comments from politicians, CEO's etc.

This has not been so I can trade based upon any of this, but rather because I thought it might be useful to see what others were looking at and possibly reacting to. The only way I deal with this is to be flat before things like Fed announcements, big econ numbers, etc, as the volatility sometimes gets irrationally wild on these.

I know Wyckoff has written about learning to trade without the news, so since I don't use this to trade from anyway, I've "shielded" myself from all this starting today - sort of a little experiment.

Just wondering what DB and others might say about the way they deal with this sort of thing.

Thanks!

[DbPhoenix]

Originally Posted by MRW »

Just looking for some feedback on the way others deal with this sort of thing.

Before the U.S. opening, I have always looked at the way the overseas markets performed, news headlines, fair value on the S&P, and noted any economic reports to come out that day. Then during the day, I have an audio news service that brings headlines from Reuters, Bloomberg, etc - this is mostly crap and comments from politicians, CEO's etc.

This has not been so I can trade based upon any of this, but rather because I thought it might be useful to see what others were looking at and possibly reacting to. The only way I deal with this is to be flat before things like Fed announcements, big econ numbers, etc, as the volatility sometimes gets irrationally wild on these.

I know Wyckoff has written about learning to trade without the news, so since I don't use this to trade from anyway, I've "shielded" myself from all this starting today - sort of a little experiment.

Just wondering what DB and others might say about the way they deal with this sort of thing.

Thanks!

As you say, Wyckoff suggests (to put it mildly) that the trader ignore all of it: news, tips, reports, rumors, and so on. Given the internet and the instant executions of today, one may want to avoid trading the Fed announcement and the 10:00 reports if he is not already in his trade beforehand. But everything else is in the chart.

If the subject interests you, it has been discussed exhaustively elsewhere.

[MRW]

Thanks, DB! Appreciate the link, too!