Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

VSAtrader

Wycoff Method & Hawkeye Trading Method

By VSAtrader, in Technical Analysis

Recommended Posts

VSAtrader    10

VSAtrader
Posted

Hawkeye Indicators are based on Wycoff Trading Method.

 

Understanding Volume

 

Volume in the market is as important is to your car. Prices do not move without buyers and/or sellers.

To help in understanding typical volume and price behavior, post these notes beside your computer and learn to identify the different volume behaviors as they occur on your charts.

 

Normal Volume Behavior:

 

• Volume is highest before congestion

 

• Volume is lowest as it moves deeper into congestion

 

• Volume increases with a valid breakout of congestion and then subsides as the trend begins. (Look for the last Hawkeye Pivot being taken out.)

 

• Volume increases with major reversals, approximately for the next 5-7 timeframes

 

• Volume should move with trend strength, ie if trend dots are up and on an angle greater that 45%.

 

• Volume should be lower on the second double top/bottom formations showing lack of selling. Then volume will pick up and a trend will be established.

 

Abnormal Volume Behavior:

 

Congestion Areas:

 

• If heavier volume appears at the low end of congestion area, buying is being supported and prices tend to go up after breaking out of the upper price resistance level.

 

• If heavier volume appears at the higher price level in the congestion area, then there are more sellers than buyers. Prices will eventually decline from the higher support area of the congestion zone.

 

• Volume should increase during the breakout then subside as the trend begins to form. However, if volume stays high after the breakout and prices move too strongly, then the breakout will not be valid and prices will move back into congestion until fair value has been established then continue in trend (in other words price has got ahead of its self and it requires attendant volume to confirm trend direction.)

 

• If price retraces after a breakout from congestion on high volume, and bounces off the outside edge of congestion, and then volume picks up again, this is a valid breakout.

 

Volume should be in the direction of the breakout. However, if volume does not confirm the direction of the breakout, then prices will likely go in the opposite direction. Remember, normal volume breakout increases with the breakout. Therefore, if you see a breakout with low volume, anticipate entering in the opposite direction as price cannot continue in this direction on low volume.

KISS.gif.510ba9c74de7ae86cfacd6d69ed71bb6.gif

volume6.gif.9f4fec0f76ed541e5fdd18a10b13f662.gif

STRATEGY20JULY09.gif.c3b79972bcf7e1c799e1f4176e324f74.gif

Share this post

Link to post
Share on other sites

VSAtrader    10

VSAtrader
Posted

Guys, I'm not using these indicators any more. It has huge stops, indicators are choppy like hell,used 3 years never made any money. Additionally, I lost huge amount of money using Hawkeye Indicators. Be careful with these indicators.

Share this post

Link to post
Share on other sites

wjrusnak    10

wjrusnak
Posted
Guys, I'm not using these indicators any more. It has huge stops, indicators are choppy like hell,used 3 years never made any money. Additionally, I lost huge amount of money using Hawkeye Indicators. Be careful with these indicators.

 

Thank you so much for the honesty. I sincerely hope we can sticky your post and forward it to every beginner that enters this site. Especially the "used 3 years never made any money" part. Maybe then they can realize that only screen time and a personally developed strategy will make one profitable.

Share this post

Link to post
Share on other sites

brownsfan019    17

brownsfan019
Posted
Guys, I'm not using these indicators any more. It has huge stops, indicators are choppy like hell,used 3 years never made any money. Additionally, I lost huge amount of money using Hawkeye Indicators. Be careful with these indicators.

 

Wait a minute... are you saying that a vendor selling magical indicators is doing so b/c they are worthless and the only real value is in selling them? Shocking.

Share this post

Link to post
Share on other sites

VSAtrader    10

VSAtrader
Posted

I trade commodities using tick charts. Futures and currencies are long term trading. Anyway nothing worked with these indicators -- they really lagged. I went to Nigel's (he claims he invented VSA) seminar. The seminar was all about basics of trading, he never discussed any thing on VSA. Really he just flips through a bunch of charts but you still do not get a real understanding of his indicators or trading. Although the charts are beautiful in hindsight, on the live edge of the market, they leave a lot to be desired.

Share this post

Link to post
Share on other sites

sevensa    10

sevensa
Posted
I trade commodities using tick charts. Futures and currencies are long term trading. Anyway nothing worked with these indicators -- they really lagged. I went to Nigel's (he claims he invented VSA) seminar. The seminar was all about basics of trading, he never discussed any thing on VSA. Really he just flips through a bunch of charts but you still do not get a real understanding of his indicators or trading. Although the charts are beautiful in hindsight, on the live edge of the market, they leave a lot to be desired.

 

What commodities do you trade that are not futures and how do you trade them if they are not futures if you say futures are long term trading, but you trade commodoties on tick charts?

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing

  • Similar Content

    • FMIND5
      Order flow trading or trade from inside a price !
      By FMIND5
      Hello traders,
      I am interested in order flow trading and I will post some trades and predictions, some articles and ideology of a bit different understanding how price moves and why. May be this forum will be the right place. So, for the start I have  couple of charts of recent trade on oil. Also I did some comparison of two different software. Would be great to meet some traders who use order flow too. Lets see. I have a lots ideas and strategies to share. I don't use any traditional indicators, because just numbers are important for me.
       
       
       


    • trading4life
      Introduce Yourself Here - Don't Be Shy!!
      By trading4life
      Hello, My name is trading4life.
      I just joined this forum.

  • Topics

  • Posts

    • RJo
      Scalping System

      By RJo · Posted

      @sxiqxx, Well done on making your first post a promising strategy. @everyone, post up if you want this coded into an EA. Although I switched to TradeStation, I still have an active MT5 demo with MetaEditor. I can code it without referencing object oriented programming which should be retroactively compatible with MT4. Let me know...
    • RJo
      What are the biggest lessons you have learned in the corporate world?

      By RJo · Posted

      Please allow me to retort (in jest): RESPONSE 1 : Get a job supervising others where you're in control of performance reports and ride those others 100%. This makes your performance 100% with little to no effort.   RESPONSE 2: Feel free to piss off your boss but stay nonviolent. When the side effects of his viagra and testosterone boosters cause him to physically assault you, you have the legal upper hand. This can result in a boatload of trading capital.   RESPONSE 3: Feel free to have intimate relations with your boss if she finds you attractive. Rest assured that mum's the word because once again, you have the legal upper hand. This can also result in a boatload of trading capital.   RESPONSE 4: Don't be fake friends with any enemies... unless you need information from them. Being fake friends with everyone will cause you to become an empty shell of a person with no direction in life.   REPONSE 5: Get your boss to become reliant on your performance (really, just the performance of your subordinates), and then plan an "overheard" conversation wherein you fake an interview with another potential employer. You'll probably get a pay increase or a promotion.   RESPONSE 6: If you can give your 75% percent to a project, give 50% and rely on your legal upper hand(s). Learn to write trading algo's during your other 50%.   RESPONSE 7: Take all of the office boys out to nightclub where you merely sip soft drinks on a weeknight. Upon your return to the office in the morning, inform the security guards that all of the office boys are intoxicated. Your boss will love you for it.   RESPONSE 8: Never try to prove your client wrong or find faults in their processes, but do secretly collect their information in case you jump ship or "someone you know" decides to start his own company.   RESPONSE 9: Never stay in a firm for too long. Instead, use your ill-gotten capital to exit the rat-race and start trading.   RESPONSE 10: Trading pays more than your career. Interpersonal skills are now irrelevant. Use your technical skills for trading. Never stop learning and keep updating your technical skills.😁
    • aimhi
      Anybody trading with Wyckoff

      By aimhi · Posted

      There are a lot of trading strategies like elliot waves, wyckoff etc so we need to apply those who best suited to our need and are understandable too.
    • aimhi
      Scalping System

      By aimhi · Posted

      Scalping can be good during the high volatile markets however the new traders should be careful while entering and exiting the markets too quickly since they can make losses as well. If the broker support news trading we can make most out of the scalping in my opinion.  
    • aimhi
      Candlestick for profits

      By aimhi · Posted

      In my opinion these candlestick charts are more easier to understand as compared with the other charts.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept