cowseathay

Holy shit, you are still alive! Great news.

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I found this post on "Re: What Would Have Been a Good Way to Trade Today (monday 7/27)" interesting and have nominated it accordingly for "Topic Of The Month July, 2009"

I asked a very similar question a year ago at the Wyckoff Forum and I found many insightful answers from that thread. I would suggest you take a look and see if it answers your questions: Retracement Vs. Reversal. Specifically, the following reply from DbPhoenix in that thread may be the most helpful to you (as it was to me).

Re-uploaded the images, it should work now.

Sure, no problem. Done.

I thought today was a great day to see many of the Wyckoff concepts in action in a very clear way. I'm attaching a 5s and 1M chart of the NQ from this morning pointing out a few key clues to the beginning of the giant reversal that occurred. And all of these clues were pointed out in real time in chat by Db, atto and others. You can see that with each potential selling climax price drops sharply with a dramatic increase in volume. The final climax that occurred didn't seem to have any big volume bar, but a lot of volume occurred in a small period of time, which you may not pick up if you were following bar by bar. Also, note that the final climaxes and shakeout occurred at support (or right below), which signals a much higher chance of a reversal than if they occurred in the middle of nowhere. You can also see lower volume on the test, and then large volume during the shakeout followed by rapid price reversal. The job of a shakeout is to get rid of "weak hands" so that a new move could be started. And as you can see that job was accomplished with great success.

I thought today was a great day to see many of the Wyckoff concepts in action in a very clear way. I'm attaching a 5s and 1M chart of the NQ from this morning pointing out a few key clues to the beginning of the giant reversal that occurred. And all of these clues were pointed out in real time in chat by Db, atto and others. You can see that with each potential selling climax price drops sharply with a dramatic increase in volume. The final climax that occurred didn't seem to have any big volume bar, but a lot of volume occurred in a small period of time, which you may not pick up if you were following bar by bar. Also, note that the final climaxes and shakeout occurred at support (or right below), which signals a much higher chance of a reversal than if they occurred in the middle of nowhere. You can also see lower volume on the test, and then large volume during the shakeout followed by rapid price reversal. The job of a shakeout is to get rid of "weak hands" so that a new move could be started. And as you can see that job was accomplished with great success. If I've made any mistakes please let me know and I'll correct it.

I think I see a potential hinge/coil in the DAX Future in the one hour chart. Volume seems to be diminishing, the hinge seems to be "filled with price" and the ranges are getting smaller and smaller. Seems like it is poised for a breakout.

I found this post on "CouldaWouldaShoulda (The Wyckoff Forum)" interesting and have nominated it accordingly for "Topic Of The Month June, 2009"

Gold is near support that has held since February. A buy stop limit at 90 with a stop loss order at ~87 could be placed as a bounce-off-support trade. Potential problems: Gold is near resistance in the longer time frame (weekly), so even if it were to bounce off support again, it may not yield too many points unless a breakout occurs to the upside. Also, when price repeatedly gets rejected at an S or R level, there is a good chance that eventually it will just break, so we could see it breakdown below this 87 level and go into the value area I've highlighted. I'm a complete beginner to trading off daily charts, so any comments are appreciated. Thanks.

Hi Eiger, Thanks for that post. Could you possibly point me to some resources about mindfulness without all the mumbo jumbo--just in plain English? Also, if you still have the sources to the research about the cognitive activity with athletes, could you cite the articles here? Thanks a lot.

Nice job FW. Let me know how dinner goes.

I pointed this out in chat today and am not sure how much significance it has but NQ is currently exactly at the midpoint of the swing high started from February 10, 2009 (1284.25) to the swing low on March 9, 2009 (1038.50), which is approximately 1161. Here's what Wyckoff had to say about it: "...when a stock declines 10 points, a normal rally would be approximately one-half, or about 5 points. A smaller rally would indicate technical weakness and a rally greater than one-half would indicate technical strength." The chart has been adjusted for the June contract.

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