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gaelgss
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Everything posted by gaelgss
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Cheers Gary really appreciate the feedback! Do you agree with the support and resistance that I ploted on the 60 min chart?
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Attached are two charts for a wyckoff oportunity I identified last tuesday. Firstly I plottes support and Resistance on the 60 min chart and price found support at the midpoint of a previous range at around 12:30 UK time. I would greatly appreciate it some feedback on my interpretation of the charts. This is my first analysis so please forgive my ignorance cheers
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Thanks for your reply turtle, I am reading Wyckoffs course and many of the threads in this forum by Dbphoenix and finding the subject fascinating. It is the first approach to trading that I find logical and sensible. Would you care to elaborate on what filters you use to achieve 70% winning trades? At the moment I am trading Euro/dolar futures using Ninja Traders Simmulator and I am having 2 issues; 1- Sometimes I struggle to find Support/Resistance on the chart, I plan to study in depth the thread on support/Resistance on this forum but I have a question for the expers; Is support/Resistance subjective or objective (assuming traders are looking at the same timeframe) 2- I don't seem to find many setups on my charts, I trade the morning session 08:30 - 13:00 European Time. How many trades do you make a day using the wyckoff methodology and does this vary a lot from one instrumen to another? Regards and thank you bot for your help.
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Do you find support/resistance on the 1 hour chart and setups on the 5 min chart? I am developing a methodlogy based on finding support/restiance on 60 minutes and looking for a test of support/resistance on the 5 minutes chart, followed by a retracement for confirmation. How do you factor volume into your system?
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Thanks for your reply and Im glad to hear theres someone trading following wyckoffs methods. I have read most of the threads in this forum and found the method extremely appealling, however, I am surprised at how quiet this forum is. Do you identify support and resistance on the 1 hour chart and look for setups on the 5 min chart? I understands that volume is paramount when trading the wyckoff way, as it symbolozes potential climatic buying or selling that could lead to a reserval (after a succesfull test). How do you identify climatic volume when trading forex pairs? Isnt forex volume both inacurate and unreliable? Thanks again for your reply
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Hello everyone, I have noticed that most of the work published in this blog (by DB et al) on wyckoff trading was published back in 2008-2009 and there has not been much activity over the last 2 years. I am interested in the method but have a basic question; Is this methodlogy aplicable today, in 2012 and if so in which markets? I have often read that the principles of supply/demand will always prevail but is this true, with all the automatic and algorythmic trading out there? I am very interested in hearing from those of you who are currently trading using wyckoff methods.