Trading The Wyckoff Way

[ramack 10]

I'm not a fan of forex, but then I'm nobody's mother. I suggest you read this post and decide for yourself.

 

Yep, mom, read that post before asked the above question. (Ha, sorry, couldn't pass that one up!) But seriously, thanks.

[Niko 10]

 

After breaking the trend channel to the upside and exiting the 89.3-91.2 TR we have entered a new congestion area between 91.3 and 92.3 with an MP in 91.8.

 

Buyers have already stalled and have to break the LSH at 91.74 to show they are still committed.

 

If sellers can hold the LSH then a DT or a LH will form and then it will mean that sellers must break below the 91.3 S and then 91.2 in order to go back to the previous TR.

 

Plans:

 

if the DT forms short the BO to the downside of the TR and then wait for a test of the 91.20 S level to see if the trade will fail or if sellers can push harder and reach the bottom of the TR.

 

If the LSL at 91.1 holds and the trend resumes a Buy at S above 91.17 or 33 in the form of a REV would be triggered.

[Niko 10]

 

We are currently within a TR between 68.7 and 85.9, at the time of this post we are around the MP where sellers and buyers are still pushing without having been able to get a following.

 

So far we have a LH, but we still need to break below LSL if sellers are going to commit to reach the bottom of the TR.

 

As for plans:

 

I have not been able to get many good trades around MPs so I thin waiting for a extreme is the best choice, if sellers manage to take the LSL and reach S at 68, wait for a HL in order to define a REV and buy that, or wait for a BO and a LH in order to define a RET and short that.

 

If the LSL holds and buyers can take the LSH and reach R at 85 then wait for a LH in order to short a REV or a HL after a BO in order to buy a RET.

[tupapa 10]

And all of this brings one back to the central question of what one wants from his trading.

 

This has to be the fundamental issue for every trader. At the end of the day, we all end up with more or less money, we are aware of the potential to make a lot of it, but is it the dollar that we are after?

 

I doubt it, the money is just a means to an end so it is the end that is the goal right? Maybe we want security, or freedom, status, recognition, or a house and a car, or to quit our job, or to spend a year traveling around the world, or to buy a hut in Hawaii and spend our days surfing, away from the banal circus we call society.

 

Db and other experienced traders that have dealt with this; Did you always know what you wanted from your trading? Or is it something that you discovered with time? Once you established what you wanted, did your performance and attitude towards trading change?

 

If you know your goal, does this put negative or positive pressure on you? For instance, your goal is to build a house in 3 years, so you've done the math and you need to make an average of 500$ a day from your trading. Wouldn't this influence you negatively since you are thinking about the money and your goal whilst you trade?

[DbPhoenix 42]

I suggest you read this thread

[gozila 10]

ice support is it higher low which made last higher high or is it higher low between lower high and higher high???

[DbPhoenix 42]

I don't understand your question. But there is no "ice" in Wyckoff.

[tupapa 10]

US Cocoa has touched the lower limit of its weekly TR, around 2000

 

Buyers came in here and caused an up wave that, so far, is as long as the most recent down-wave. Might be something worth keeping an eye on.

 

 

[ramack 10]

I was checking the pairs out indiscriminately. Any pair that had a reasonable spread of 6 or less has been game. ...

But your suggestion is reasonable to narrow the focus down to a few major currency pairs and then waiting for proper setups.

 

Hi Gringo,

How are you implementing Wyckoff's method for Fx, watching the numbers or charting?

Rich

[DbPhoenix 42]

Charts 2 3 4 5 6 7 8 9

Edited March 9, 2013 by DbPhoenix

[eminiman414 10]

questions or maybe thoughts on backtesting/strategy development and the wyckoff approach. Not sure if what i am planning to do is considered "backtesting" but i'll just call it that. Since reading everything in this forum over again I have decided to only take trades at the "extremes" that being the tops/bottoms of those trading ranges that we find and utilize in this approach. Trading range not being just any sideways movement but where traders are testing a level repeatedly and price reverses to the bottom and back and forth and so on (for example that range we saw at the beginning of this year in the NQ). Now instead of sitting and watching price move and saying something like ok I am seeing a sl break on the 1 min and a double bottom on the 1 tick at support as something that tells me to go long (just an example) I am thinking of reviewing those ranges over the year, finding those tradeable extremes, finding where price reverses, and where price breaks out and retests that level. At those levels check out my 1 min chart and the 1 tick chart at the specific points of reversal and points of break and retest, print them out and see what price action looks like at those times. So then we have two categories reversals/retracements. In those categories classify those charts we have printed based on similar visuals the price action is giving in those snaps shots (could be double tops, bottoms, small trends, whatever). Group them together in that section based on the "success" (being how far price moves after). That would be part one.

 

Part two would be to take those days that we classified based on the PA visuals and replay them. During the replay take notes of the behavior of buyers and sellers during the day leading up to the extremes, at the extremes, and after the extremes. Attach those notes to the charts we have printed. Compare them and see what we get. See what I like, see what "feels better" see what I understand and what makes sense and doesn't make sense in my head obviously sticking with what makes sense.

 

Trading at the extremes will already filter out some trades, maybe some that would work out, but most that would probably not work out. Now instead of only trading double bottoms at these extremes (just an example) I want to be armed to make a decision at these extremes without only having to see one particular type of action so to speak. Does that make sense. I guess what I am trying to say is i do not want to miss opportunities at these extremes because my one particular "setup" did not come thru. I will be patient enough to wait for the extreme, so once we get there I do not want to miss an opportunity that presents itself.

 

Another thing to look at and observe/print/replay and note take/classify are those moments when price looks to reverse from let's say R, but then turns around and breaks out. If you want to call it conditions under which you would fade that movement and take the other side. Looking at this for both reversals as well as what appears to be a retracement but turns out to be that reversal.

 

The final thing to look at would be when price fails in all of the above and look at all of those conditions as listed above.

 

The reason for this post is I am thinking a lot about my screentime. I watch price move and I make my notes but I see different behaviors at specified levels almost everyday I watch. If price gets to an extreme and I see something that I have seen before thru this backtest/study or whatever you would like to call it I feel there would be a whole other level of confidence. Like hmm i've witness this similar type of action 10 different times in my backtesting and nothing but a bunch of fakeouts happened so I'll stand aside right now even though I am at a tradeable extreme.

 

Is this a good idea? Or would this turn out to be paralysis by analysis. I find myself almost searching for a "setup" when it dawned on me that If i want to trade these extremes well lets see what happened previously at extremes that have happened over the last year, study it, replay it, make notes, so when price gets to a current extreme I can say a ha i've seen this before. Like Sherlock Holmes of price action.

 

Sorry for the long post and thanks for reading. I appreciate all of your thoughts.

[Niko 10]

I guess this is a question I thougth about asking some months ago when I was so overwhelmed by backtesting, just never came up with a way to write it down in a coherent way. I think is great you bring this matter into discussion because I think everyone who is currently in the process of defining a setup is wondering what is it tha one is supposed to look for after a fair share of screen time (although fair share is never enough as the learning process is relentless and never ends). In my case as can be seen in my log, i ended up looking for patterns of change in trend and I ended up with the setup I am testing and upon which I am currently writing some rules to take advantage of the intial findings. Perhaps I will hit a wall or perhaps not, only time will tell.

 

In my case, the main problem I have faced is not to go back to automatization, as once I define a setup with such a level of specificity, I start seeing reasons to trade it, even in the chop and that has proven to be a bad idea. So i guess I will have to keep working on that.

 

I think your approach is interesting, as I understand it you first define the context and the look for trades within the boundaries of such context. I kinda tried to do that at first, but i found that the amount of trades that could fail if i was not specific would be high. Perhaps it is just my mind playing tricks and making me leave good trades before they start yielding profits.

 

Anyhow, the road is still a long one in order to increase the return to risk ratio to an acceptable level.

[Niko 10]

Charts 2 3 4 5 6 7 8 9

 

Now I get the aversion towards Oil and what you said about Gold in the chat .

 

Regarding NQ what do you consider a relevant TR ( in terms of distance from Top to Bottom) to bother to trade it ( perhaps this is the wrong question)? I ask this because when I am performing the TIF analysis I usually find so many small TRs that I end up with line after line of levels as you have noted several times. I have managed to reduce this a LITTLE, but still foccusing in the trees.

 

Anyway, thank you for the charts. Very illustrating.

[Gringo 10]

Hi Gringo,

How are you implementing Wyckoff's method for Fx, watching the numbers or charting?

Rich

 

Hi ramack,

 

My Fx experiment isn't producing positive results. The lack of respect for S&R and tricky trending with large swings makes it a bit difficult to control risk. It could be my own personality unable to handle the wilder gyrations though. Perhaps it is better to stick with what I am comfortable with. I might keep an eye on the foreign exchange market but it's increasing looking as if I'll go back to the bread and butter of stocks and ETFs.

 

Gringo

[DbPhoenix 42]

Without getting all ethereal about it, you have to trust price to tell you what to do. If one is "looking for trades", it's likely that he's not listening, any more than a guy who's looking for an opportunity to make his move is paying much attention to what the object of his efforts is saying to him. The key, then, is not to look for trades but to listen.

 

The extremes, for example, are only a factor. If one waits until price gets there before he starts to listen, he'll likely misinterpret what's being said once he starts paying attention. What does price do as it approaches the extreme? Does it launch into freefall? Does it hesitate, two steps forward and one step back? What's the level of activity? Buyers stepped up to support Apple as early as November. Did they reverse its decline? No. But they halted it for two months.

 

And if price does make it to support, how does it do it? Does it hit support WHAM! and ricochet off ZOOM! leaving no opportunity to enter (though there's always an opportunity to enter if one looks at a small-enough interval)? Or does it float down, the bars/waves contracting as though they're pulling up their feet? Does it glide in? Or does it hit the ground, bounce, hit the ground again, bounce, skid?

 

And once it does become appropriate for you to do something, do you just jump in and hope for the best? Or do you wait for buyers or sellers to show their cards? This is what comes in part from waiting for a supply or demand line to be broken. One can always look back and think that he could have entered "early" if he hadn't waited, but this is the worst kind of hindsight. At the time there was no "early" since at the time there was nothing to enter. But by waiting for one of those lines to be broken, you're getting at least a glimpse at the other players' hands.

 

Ditto for waiting for price to come to you. With gold, for example, do you buy now in hopes that price will rise? Or do you place a buystop above this mess and force buyers to stop wringing their hands and forge ahead? (And if they wimp out, you're still a bystander.)

 

It is important, however, to rid oneself of the notion that the market is out to trick him. Those who believe this will never be able to trust their perceptions, much less whatever actions they take or are thinking about taking based on them. The market is not out to trick you. It doesn't even know you, much less care about you. Those who believe the market is out to trick them have an exaggerated sense of self-importance, exacerbated by the fact that they don't know how to interpret what's going on in front of them.

 

If one is following price on a 1t chart or a T&S display without "looking for trades", he ought to pick up on this fairly quickly. Otherwise, it may take quite some time. But once he develops a sensitivity to it, he is much less likely to be caught by surprise by whatever traders have in mind. And if one feels that he just isn't getting it, he should remember that traders don't always have anything in mind; they're often just as confused and uncertain as you are. In such cases, recognize the situation and use their confusion against them rather than allow their confusion to infect you.

[Guest Muir]

__

__

 

Bold is added by me.

 

.... I have decided to only take trades at the "extremes" that being the tops/bottoms of those trading ranges that we find and utilize in this approach....ok I am seeing a sl break on the 1 min and a double bottom on the 1 tick at support as something that tells me to go long (just an example) ....(could be double tops, bottoms, small trends, whatever). Group them together in that section based on the "success" (being how far price moves after). That would be part one.

 

Part two would be to take those days that we classified based on the PA visuals and replay them.

 

Sorry for the long post and thanks for reading. I appreciate all of your thoughts.

 

I guess this is a question I thougth about asking some months ago when I was so overwhelmed by backtesting,In my case as can be seen in my log, i ended up looking for patterns of change in trend and I ended up with the setup I am testing...

 

I think your approach is interesting, as I understand it you first define the context and the look for trades within the boundaries of such context..

 

eminiman, I did read and since all thoughts appreciated, I'll reply. I trade extremes.

Nikorivera, I agree, context is King (or timeframe if you prefer, or were buyers, sellers are trapped, it's how you look at it.)

 

Divorcing volume from price becomes pattern recognition or chart reading to me.

At crucial points ("I have decided to only take trades at the "extremes" that being the tops/bottoms of those trading ranges") volume is important.

 

VSA looking bar to bar with every colored bar meaning this and that is, of course, reading tea leaves.

 

It struck me on both posts how much emphasis on pattern recognition and no mention of volume or time.

 

Take volume close to support, as an example, let's say volume much higher than average comes in and and I start seeing the volume bar increase fast (really fast) meanwhile, the down bar just keeps going and going but then a tail starts to develop, it gets bigger.

 

Elapsed time (5-8 seconds)

 

I pull the trigger and immediately move my finger to the close position button (can't worry about the fill price just yet)

 

Now time comes in to play. I watch. My finger will move between the close position and my black reverse position button.

 

I've no idea, I assume and wrong and wait for the Market to tell me "wrong." (15-20 seconds)

But I do not know. If the stock doesn't move at the pace expected (which means quickly) I know I am wrong as price is not being rejected and close my position, if new volume comes in and we're headed in the original direction, hit reverse and be prepared to close.

 

Of course it could just rise, at first quickly then somewhat leisurely with light volume. (30 minutes to hours)

 

Now that's me, EOD traders would still be well served by looking at volume and time.

 

And that, volume, time and price interaction, is Wickoff, he rather had disdain for chart reading.

 

I, on the other hand, actually like charts and it's taken me a long time (and I am still getting it) why and how some patterns behave (a wedge) or what that long tail means ( on a long selling bar with a long tail, it is buyers "rejecting" that price, well actually they loved it, hence the tail as price did not return)

 

Now, mine was but an example, but it seems to me that Wyckoff without volume and time is like a Marriage not consummated.

 

Now I do totally agree on having well defined entries (and just as crucially, if not more, exits.)

[DbPhoenix 42]

Now I get the aversion towards Oil and what you said about Gold in the chat .

 

Regarding NQ what do you consider a relevant TR ( in terms of distance from Top to Bottom) to bother to trade it ( perhaps this is the wrong question)? I ask this because when I am performing the TIF analysis I usually find so many small TRs that I end up with line after line of levels as you have noted several times. I have managed to reduce this a LITTLE, but still focusing in the trees.

 

Anyway, thank you for the charts. Very illustrating.

 

NQ has been a real pain in the ass. It's trending, sort of. But ES is trending as well. Unfortunately, these trends are not always (ever) easy to catch intraday. And even if one does, what does one then do with it? This was the case in 1999, and frustrating for those who didn't want to hold overnight.

 

If you can catch a bounce off a trendline intraday, that can lead to a decent move. But you can just as easily get the feeling of pushing on a string. If so, reread the Zen thread and stop trying so hard. Take your hands off the keyboard, sit back, and watch what traders are doing. If they appear to be confused as well, just bide your time. If you do manage to catch the trend, consider a longer holding time.

[Guest Muir]

See my post, written before reading DBs

 

Look at the similarities in thinking.

 

Bold is mine.

 

 

Without getting all ethereal about it, you have to trust price to tell you what to do. If one is "looking for trades", it's likely that he's not listening, any more than a guy who's looking for an opportunity to make his move is paying much attention to what the object of his efforts is saying to him. The key, then, is not to look for trades but to listen.

 

The extremes, for example, are only a factor. If one waits until price gets there before he starts to listen, he'll likely misinterpret what's being said once he starts paying attention. What does price do as it approaches the extreme? Does it launch into freefall? Does it hesitate, two steps forward and one step back? What's the level of activity? Buyers stepped up to support Apple as early as November. Did they reverse its decline? No. But they halted it for two months.

 

And if price does make it to support, how does it do it? Does it hit support WHAM! and ricochet off ZOOM! leaving no opportunity to enter (though there's always an opportunity to enter if one looks at a small-enough interval)? Or does it float down, the bars/waves contracting as though they're pulling up their feet? Does it glide in? Or does it hit the ground, bounce, hit the ground again, bounce, skid?

 

And once it does become appropriate for you to do something, do you just jump in and hope for the best? Or do you wait for buyers or sellers to show their cards? This is what comes in part from waiting for a supply or demand line to be broken. One can always look back and think that he could have entered "early" if he hadn't waited, but this is the worst kind of hindsight. At the time there was no "early" since at the time there was nothing to enter. But by waiting for one of those lines to be broken, you're getting at least a glimpse at the other players' hands.

 

Ditto for waiting for price to come to you. With gold, for example, do you buy now in hopes that price will rise? Or do you place a buystop above this mess and force buyers to stop wringing their hands and forge ahead? (And if they wimp out, you're still a bystander.)

 

It is important, however, to rid oneself of the notion that the market is out to trick him. Those who believe this will never be able to trust their perceptions, much less whatever actions they take or are thinking about taking based on them. The market is not out to trick you. It doesn't even know you, much less care about you. Those who believe the market is out to trick them have an exaggerated sense of self-importance, exacerbated by the fact that they don't know how to interpret what's going on in front of them.

 

If one is following price on a 1t chart or a T&S display without "looking for trades", he ought to pick up on this fairly quickly. Otherwise, it may take quite some time. But once he develops a sensitivity to it, he is much less likely to be caught by surprise by whatever traders have in mind. And if one feels that he just isn't getting it, he should remember that traders don't always have anything in mind; they're often just as confused and uncertain as you are. In such cases, recognize the situation and use their confusion against them rather than allow their confusion to infect you.

 

 

Read DBs post carefully.

By the by, unlike my setup which has a high percentage loss, this would be totally acceptable:

 

"One can always look back and think that he could have entered "early" if he hadn't waited, but this is the worst kind of hindsight. At the time there was no "early" since at the time there was nothing to enter. But by waiting for one of those lines to be broken, you're getting at least a glimpse at the other players' hands.

 

"Ditto for waiting for price to come to you. With gold, for example, do you buy now in hopes that price will rise? Or do you place a buystop above this mess and force buyers to stop wringing their hands and forge ahead? (And if they wimp out, you're still a bystander.)"

 

excellent example.

 

Compare both examples and if you don't "get it" it's probably due to "Don't forget to set your clocks forward tonight. Daylight Saving Time is here. The official change happens at 1:59 a.m., "

[ramack 10]

Thanks for your reply!

Rich

[eminiman414 10]

The extremes, for example, are only a factor. If one waits until price gets there before he starts to listen, he'll likely misinterpret what's being said once he starts paying attention. What does price do as it approaches the extreme? Does it launch into freefall? Does it hesitate, two steps forward and one step back? What's the level of activity? Buyers stepped up to support Apple as early as November. Did they reverse its decline? No. But they halted it for two months.

 

And if price does make it to support, how does it do it? Does it hit support WHAM! and ricochet off ZOOM! leaving no opportunity to enter (though there's always an opportunity to enter if one looks at a small-enough interval)? Or does it float down, the bars/waves contracting as though they're pulling up their feet? Does it glide in? Or does it hit the ground, bounce, hit the ground again, bounce, skid?

 

And once it does become appropriate for you to do something, do you just jump in and hope for the best? Or do you wait for buyers or sellers to show their cards? This is what comes in part from waiting for a supply or demand line to be broken.

.

 

Maybe I didn't properly convey in words what I have been pondering in my head. I didn't necessarily mean to go through the process i described above to find trades but to learn more or get more experience dealing with price action/trader behaviors. Calling it a back test was probably a poor choice of words. Maybe explaining what I am doing now and re-wording what i said before would help. Now for example, i find the range the way that it has been describe in the forum. I watch the 1 tick chart along with a 1 min chart with volume. I watch the ebbs and flows, waves, intensity/pace/interest, sl/dl breaks/changes in stride/momentum etc etc. I make my notes. Later in the day i review my notes and the static charts in hindsight. Following that I do a replay of a different past day and go through the same process to add to my daily screen time. I know this process will take time and I have only been viewing the 1t chart for two weeks consistently or so and I am still finding it difficult to pick up on what exactly is going on or at least i'll say im not 100% confident in what I am seeing (that's probably a better choice of words). Sometimes it's obvious however. One example of it being obvious was I believe friday price a little after the open hit the high of the day which was also near the midpoint of the range i had. It hit that level and didn't budge any further. It literally looked like price was hitting a brick wall and bouncing off. It did that 3 or so times and it was very apparent to me that price would reverse and it did.

 

Now with that said, what I meant by my previous post was more along the lines of replaying a day when price is at an extreme and see what goes on knowing already what the end result is instead of doing a replay and not knowing what to expect. I've been doing replays as if it was a completely new day. Re-reading my previous post I think that printing out static charts is an unnecessary step. So an example. Look at a 10k cvb chart of the NQ. On 1/30 price hit the 50+ level/zone that we recognize as a possible area of R. Let's replay that day observe price action/trader behavior on the way up to R, at R, and as sellers move price away from R (DB said this above and i recognize you can not just wait for price to get to a level then pay attention). Make notes on everything I see. Do this same thing when price makes its way down to S or do it again the next time price gets to R. I'm thinking that maybe knowing price will definitely reverse/breakout & retrace and then move at these level will help to better illustrate these points/principles. Example: I know price hits x and x is r and once it gets there it reverses back to the midpoint. Well lets watch and see how this all came about. ohhh i see price opened near r with intense activity on the tape, smashed into r and didn't budge, powerful spurt down, smashed back into the wall again, spurt back down, smash back, spurt down, then a lower high and reversal. Hmm well that makes sense as to way price went back to the midpoint. Sellers would not give up ground. We know also price stopped at the midpoint. let's see why. etc. etc. Do this for let's say a years worth of data and compare the notes. Make categories. Reversals at R, reversals at S, etc. like described in my previous post.

 

I want to do this as my career and I do not want to limit myself. I feel like having one or two "setups" is almost limiting but having a deep understanding of trader behavior, how price moves, where it's more likely to move to next, and where the "best(greatest probability of success)" places to enter a trade would be would be all one really needs. I guess I am more interested in the intuitive side of trading then the more mechanical type of approach.

 

Does my previous post make more sense now or did i just get in too much exercise and coffee today? Does it make sense to go thru a process like this or should I be spending my time doing something else that would better help me learn?

[DbPhoenix 42]

To reiterate, the purpose of watching a 1t chart or a T&S display is to develop a sensitivity to price movement. It has nothing to do with developing setups, much less with trading.

 

"Setups" are developed by studying price behavior in hindsight charts using whatever interval one intends to use in his trading, e.g., 1m. Once a potential setup manifests itself, then further backtesting is done in order to determine whether or not (a) the setup can be defined well enough to test it and (b) if it occurs often enough to be of any use. The setup is then forward-tested to see (a) if it can be recognized and (b) if it can be traded profitably. If the setup does not occur often enough or if it is poorly-defined, then it's back to the hindsight charts and further searches for tradeable setups.

 

If you have not yet found anything, then you probably haven't been at it long enough. Or perhaps going backwards will help, e.g., find something that has had a successful breakout, then trace it back to the breakout, study the conditions surrounding the breakout and leading up to it. Then work in reverse, looking for those conditions elsewhere and determining whether or not a breakout eventually took place. If it didn't, why not? If it did, why?

If we knew what it was we were doing, it would not be called research, would it? -Albert Einstein

[Niko 10]

An update in the EOD analysis, given what was discussed today in the chat, I will do this every day after the market closes to get a glimpse of the forest before I enter to look for trees.

 

CL

 

 

After going into oversold territory prices are back within the TC (trend channel), actually at the MP of the TC after breaking back above the Top of the TR at 91.

 

This last upswing has not been completed yet and would require a LH and a break of DL and of the LSL in the intraday (in a big interval like 30 to 60 min) to define a short for the long run. Besides even if the conditions are met, we are still inside a hinge so will have to pay attention to the S level at 89, 88 and 86.

 

NQ

 

 

After a failed attempt to cross below the bottom of the TC and S at 2700, buyers retook control of the market, marked a HL and pushed even harder out of the hinge. Now prices are at the MP of the channel and the MP of the aug-sep TR.

 

If prices break 813, buyers might be motivated to take prices towards 867, if 813 keeps on holding then sellers will try to test 759.

 

GC (Ninja GC chart sucks, so I am using as a substitute Spot gold from IBFX)

 

 

After buyers managed to take prices back from the oversold area and above the S level at 553, the market is currently congested within the boundaries of the june 2012 TR, but still within the downtrend TC, the MP of that TR, the MP of the TC and even the closest SL. So the context is still bearish. But the fact that buyers have managed to hold prices above 553 is a reason of concern, because in any moment they could break the current hinge to the Upside trying to make a move towards the MP of the larger interval TR (Green rectangle).

 

An upmove could find R at the MP of the small june TR and later at the top of the TR, by that time we would possibly also be around the top of the TC, so will have to wait and see.

 

If SL is broken, and another HL is set, perhaps a buy could work, but the profit potential would be limited given the fact that we would still be within a TC.

Now, if sellers manage to push below 553, prices could fall to 530. A break below 30 would take us to less populated areas and therefore some trending opportunities.

Edited March 11, 2013 by Niko

[Niko 10]

Are there any hidden clues in the volume of the above charts (except Gold) I am missing. I am just way to green for volume yet.

[DbPhoenix 42]

Here's one. I'll let somebody else do the other.

[eminiman414 10]

DB, what keeps you from getting in too early when watching the 1 tick?