Bearbull

Have a look at European Bourses, Dax and Eurostoxx, plenty of liquidity and price movement. 1pt on Dax 25Euro, and on Eurostoxx it is 10Euros. Ideal for trading prior to US open.

forgot the charts Dax was pretty much leading the way.

Despite rises in Tokyo and HK, buying momentum carried prices the European bourses straight into overhanging supply, ideal shorting opportunity. Anybody wishing to take the trouble to study previous posts and look at attached price action on Dax and Eurostoxx this morning, same principles, nothing esoteric, labyrinthine. Never mind "WHO is doing WHAT and WHY" Look upon the market as a single entity and free the mind to focus on what is happening in front on the chart. Leave others to engage in endless debates on who exactly is moving the market and what part of volume represents which entity ie. those in the know of events in advance, floor traders, scalpers, others with harmonics , some looking to convert squiggly lines into maths formulas etc.:crap:

Kiwi, why don't you talk to Db and ask why he made that decision, he had to weed out superfluous discussions day after day, not pertaining to the theme of the thread.

There is no problem in my head, nor with Db. Infact he had continuous problems shifting your posts elsewhere and it was his decision to bring an end to that. You entered that thread and were the main cause of the problem, not only were you off base but totally off the main theme of the thread, ie. to trade using wyckoff methods. Anyway don't wish to engage in any further debate with you, at least make an effort to address the questions directly with concrete examples and trades otherwise, keep blowing your trumpets here. you will always find an audience.

This is precisely the reason, the thread "Trading the Wyckoff Way" was closed down by Db. There is no claim made there, that, that is the correct and only way to trade. In wyckoff world the composite man is the market itself. You came in with your angle on professional/dumb money and how they position well ahead of everybody etc . Yes everybody on this website is savvy enough by now to realise there are different players on different timeframes in the market. Yes they know markets can be manipulated and are being manipulated. Yes you have stated many times over, you have a trading team who have been taking advantage of economic reports prior to their release long before the normal dumb traders and that you all have been doing this successfully for countless years. Nobody is denying any of this. All that was pointed out to you on the wyckoff thread was that any potential intentions of the professional via their inside knowledge or, imbalances between buying/selling pressure via order flow has to be translated into action via a trade, an exchange of buy and sell contract and this turn has to materialise on the tick chart. Trading based on Wyckoff methodology is only is concerned with that aspect but does not claim that any other way of looking at the market is wrong. Here you directed folks to have a look at 81min charts and volume, then specific questions were asked based on the observations of that volume and price actions and also on recent report releases. However instead of providing specific answers with specific examples, you have brushed it aside as you did on the wyckoff thread. What does this achieve? You have already managed to deprive anybody interested in following wyckoff's work and any meaningful discussion on a thread specifically setup to do just that and here you keep coming up with general statements which sound cosmic and profound at first glance but when specific questions are posed, why not come up with specific concrete examples. Not pointout, look there the market tested the low and prices rose, and pros took profit, that is all reflected on the chart and could have been detected by those who would have other tools including knowledge of Wyckoff method. We know info from the briefing.com works for you and could for many others but was it necessary to engage in long drawn out arguments on the Wyckoff thread on that subject.:doh:

BF, Prices have been taken down on the Globex, wonder if this is market manipulation prior to rollover , when under normal conditions, the market turns bullish.

The stop loss is dependent on your risk tolerance and account size., also the timeframe on which you are trading. The logical stop would be a couple of ticks below the hammer (for long trades) and vice versa. As for trade management you could achieve that via a number of ways i.e trendlines (wyckoff way), stay with the moving average, or move stop beneath each bar that moves in your favor, so in a long trade, do not be freaked out by a retracing bar and move stop under that, it will be most likely get hit prior to prices moving up. However all this has to be tested out , key is to keep losses to minimum and let profits run, easier said than done;)

It certainly looks that way BF, prices have been in range for a few days now, also the seasonal factor favours upside under normal circumstances, but with this ongoing credit crunch and loss of confidence who knows.

Steve, Thanks for clarifying your position, realise which angle your are coming from, it does not clash with Wyckoff but could provide an added edge to many who know how to interpret and employ the knowledge in advance in the market prior to everybody getting on board.

VolumeJedi, That looks pretty much on the track, it gets tricky when the market gets out of sync with the 3 day(TT) or 5day cycle (Linda.R method), Unfortunately on the Taylor thread, nobody seems to be interested in engaging in commenting on possible scenarios for the next day based on what has transpired today and in previous couple of days. Happy to look at some past chart, o.k for a while to learn the basics but then one has to move on to the practical level to observe how it plays out in realtime. LIke you I am no expert so a separate thread and joint effort with Eiger, WHY? perhaps, we could move forwards.

I meant PM Db directly, not me, I am not in charge of the forum, I contribute when I get time.

I have no idea whatsoever, It is afterall Db's forum and his decision. Those interested may request via PM to join the private discussion "Trading by Price"

Eiger, It would great to follow this up in the context of Taylor methodology, shame that the Taylor thread has fizzled out, some knowledge guys in there, Dogpile, Why?, but no much follow up I am afraid. Infact Frank provided an excellent summary in post 205, (I don't want to copy the whole post here) check it out. More detailed than Linda Raschke whose work I am very much familiar with since 2000, also that of George Angell. As for Taylors book, it is practically unreadable, he obviously was a competent trader but certainly not a writer . WHY? seems to have mastered it though:) If I were to read this: 5th Friday was a buy day, the gap up on Monday(sell day) was momentum carryover, selling into that the target would be the high of Friday. Tuesday (short sale day), opened gap down, so the first trade is the powerbuy I mentioned before followed by a sell at the high of Monday's range. So today in theory would be another buy day, but as it gapped up we have reverse situation of yesterday i.e first trade power sell and then a buy either on violaton of yesterday low or on a higher low which is what you have just explained. Lets see how all this pans out and we will take it from for tomorrow, I am sure it will highly educational for all of us, for it is good enough for L.R, it should be for us:) Blend of Wyckoff/VSA/Taylor, WTG

Excellent explanation of the setup with the blend of Wyckoff/VSA and also use of other indices Naz, Russ, Naz was leading there as was Dax which is great to trade, infact prices were positively on the march in Dax, the European traders tend to anticipate the moves in the US markets (most of the time they are spot on, but now and then goof up), You went long on that test bar, so presume the stop would be a couple of ticks 2 bars back, around 892.75, do you than wait for the target to be hit or manage via trendlines as per wyckoff on that same timeframe or switch to 5min, 15min. I know Tom advocates moving stops below each bar that moves in favor of the trade, allowing for one or two downbars. GH on the other hand goes into all sorts of stuff, diamonds, etc:)