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gassah
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Everything posted by gassah
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<<merge of SPY from Oct 9th to now>> Here you go.
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http://www.wyckoffstockmarketinstitute.com/ nic
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It's a module added to the Market Analyst software: http://www.market-analyst.com/
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This covers 3/17 to 7/15. Let me know if you would like different dates.
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This covers 3/17 to 7/15. Let me know if you would like different dates.
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I haven't given it a try. The Force uses intraday swings so it multiplies the effects of volume shifts and would seem to be much more sensitive to turning points on the daily charts. nic
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There's a positive divergence but there hasn't been the large up move yet that accompanies bottoms. nic
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Hi Tannis, Following up on PENN: having reached the PnF target in an oversold position relative to the channel, with massive volume, this is where I'd be happy taking profits if I were short.
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Closed the SDS position on 6/30 that was initiated on 6/6 and added to on 6/17 as the SP500 reached the 3rd STD MP target near the bottom of the range. The narrow spread/high volume on 6/27 (SP500) showed possible demand entering and I didn't give it any room in the target zone. Took a long position in GG on 6/26 as GDX (gold miners) looked as though they were moving off the bottom of the range with the nice wide spread/heavy volume break of value and resistance lines. GG was chosen because it is the strongest in the group and was looking to break out.
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Closed the AUDUSD trade for a small loss on 6/19 as it rallied back too far. Haven't been able to get anything going in Forex-land for a couple of months now following an explosive start.
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Added to the SDS position on the close of June 17th as it appeared the rally in the SP500 was ending. The SP500 chart shows the rally into support on declining and low volume into the NR7 day (white bar). The down trend appeared strong because the last pivot low and down trend line could not be reached, because it stopped near the 50% retracement and because it rallied for only two days.
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I've only been making these observations for a couple of months, along with the "boxes", and man, does it happen a lot.
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SPY opened today and tested the POC of the Wed-Thurs composite and then drove up to the POC of the 6/6-6/10 composite.
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I'm viewing the region above the range as further distribution, yes.
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It's probably easier to see in retrospect that the SP500 was struggling to get to the top of the range, weakly attempted to break away and then folded. It seemed like forever to come back down.
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Shorted AUDUSD as it returned to the range a couple of days ago with a target at the other side.
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I'm only making intraday observations. It seems reasonable to take a short following the open and test of the lower node's POC with a stop above the node.
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While I see the annotation on my chart I might as well point it out. It's something Balancetrader mentioned. Notice that the little range in early January didn't offer any resistance on the way up in early April. It was passed through. When this happens it will usually offer S/R from the other side which did occur in May-June.
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I guess 5/7 would have been better than 5/9 because it made a lower low than 5/9 but I was a little sloppy.
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Yes, probably because 5/9 was the bottom of the range. I've since moved it back to 5/2 because it fits in well with activity since then.
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I just realized I didn't include the attachment in my of the posts. The first one shows Friday separated out and today split. The high volume area (node) would have been a place to look for resistance during the B and/or E periods today. Looking at the other chart I've pointed out the weak rally with the supply bars in the same region that also shows the congestion to the left.
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I watch the TPOs and volume nodes for potential S/R, to provide the market structure and then utilize other techniques to decide if they are good locations, such as Wyckoff, VSA, breadth, Delta. I don't daytrade (yet) but will use this information in an attempt to optimize the EOD trades, sometimes taking positions intraday.
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They are good areas to look for S/R and places to place stops.
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The nodes are the high volume areas in blue.
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Exited the stocks near the open. I can't be long stocks and bearish the market at the same time.