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Gary Fullett
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Everything posted by Gary Fullett
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Strong hands buy and defend support in the accumulation phase. They sell and defend resistance in the distribution phase. Buying and selling occur all the time. It's the quality of buying and selling that's important. We characterize those bars by wider range and increased volume, which are special kinds of buying and selling bars. We are always judging the character of demand and supply bars by price and volume and by the speed at which they occur. Gary There is a substantial risk of loss in trading commodity futures, options and off exchange foreign currency products. Past performance is not indicative of future results.
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It's not the "classical" Wyckoff paradigm, but it's a good representation of the phases. Gary There is a substantial risk of loss in trading commodity futures, options and off exchange foreign currency products. Past performance is not indicative of future results.
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On the euro I use 10 and 20 for most days and 50 for very long view Aussie the same Swiss recently is hard to trade—only 20 Canada—for very quick trades even the 5 X 3 works—other wish 10 Pound I use mostly the 50 (once in a while 30) Gary There is a substantial risk of loss in trading commodity futures, options and off exchange foreign currency products. Past performance is not indicative of future results.
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Thanks for your input. The lower, up-channel line I drew is simply a parallel line to the reverse trend line which the market has respected for a while. The fact that the market has respected this reverse trend line, shows that up-trend channel line is a valid one. Having said that, to me, the 1334 area in the S&P is an important area that the bulls need to defend before a change of behavior can occur. Since we are hugging that reverse trend line, this inherently shows market strength, but at an overbought condition. An overbought condition does not mean sell, but it does say use caution. Gary There is a substantial risk of loss in trading commodity futures, options and off exchange foreign currency products. Past performance is not indicative of future results.
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Thank you for the kind words. It's nice to be here. Several weeks ago I had an objective of 13375 to 13400 area. I do occasionally look at open interest, but it's not a factor in my trade decisions. I don't know Elliot Wave count, so I can't help you there. The light volume retest to the 13344 area today means a lack of demand at those levels and should see a retest lower before a move back up to the 13375 to 13400 area. As long as we do not get supply (large bar action and high volume to the downside), the upthrust today will act as a probe to higher levels. Gary There is a substantial risk of loss in trading commodity futures, options and off exchange foreign currency products. Past performance is not indicative of future results.
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Point and figure charts give a guesstimate count of how far a move can go, either up or down. If the trend is up, I use the point and figure for an upward count (though the move can also go down). If the market is in an accumulation phase, I will look for an upward count. If the move is in a downward trend, I will count that move to the downside. But the count goes both ways. I personally added the volume to my charts to show if there is a conviction to the move. But again, in it's purest sense, p&f does not have time or volume. Gary
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Euro 240 minute chart There is a substantial risk of loss in trading commodity futures, options and off exchange foreign currency products. Past performance is not indicative of future results.
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Emini S&P daily, 60 minute, and spread
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E-mini S&P chart
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Point and figure charts are only used in Wyckoff as a guesstimate of how far up or down a movement can go. Gary
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Thanks Yertle! I appreciate the compliment. Wyckoff P&F doesn't have volume or time, but I use volume to show activity of strength or weakness. Regarding box size, which size to use varies on commodity and volatility. Please let me know a commodity and I can make a suggestion. Using box size and reversals is really a personal niche, but I can share what I would use. Thanks again! Gary There is a substantial risk of loss in trading commodity futures, options and off exchange foreign currency products. Past performance is not indicative of future results.
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Emini S&P chart
