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View Full Version : A Wyckoff Student Notebook



ElberHaps
02-23-2016,
This is a thread for anyone who wishes to post and discuss charts using pure Wyckoffian technique.

As the founder of the thread I would ask that you leave your lagging indicators and hit-or-miss chart patterns (double tops, head & shoulders, etc.) at home. One, maybe two MAs will be tolerated, but basically charts should consist of price, volume, drawn lines, text, and not much more.

Under most circumstances fundamentals, corporate reports, analyst reports, or news releases should NOT be discussed on this thread, including personal opinions in that regard. Disclosing the date and time of earnings reports or other important event dates is fine, but please, no discussion about them. Everything they allow you to know and more is distilled into the price and volume action. The only exception to the above guideline would be to draw attention to how the composite man may be using the news to accomplish his goal.

If you learned Wyckoff from VSA then please start your own thread or learn to translate your terminology into pure Wyckoffian.

I don't expect the thread to be very popular as most are not willing to invest the time and effort required to understand market behavior, or they are not willing to give up the media lies they are fed on a daily basis, or they are content using mechanical analysis, but bear in mind the words of David Weis who once said about his time learning the brokerage business in the early 70s:

"In those days when people spoke of the Wyckoff course they talked about it in hushed tones as if they didn't want too many people to hear about it. It was one of the best kept secrets."

And from Wyckoff's course:

I, therefore claim that:
You need never read anything on the financial page of your newspaper except the table of stock prices and volumes.
You need pay no attention to the news, earnings, dividend rates or statements of corporations.
You need never study the financial or the business situation.
You need not understand railroad or industrial statistics, the money market, the crop situation, the bank statements, foreign trade or the political situation.
You can absolutely ignore all the thousands of tips, rumors, reports and especially the so-called inside information that flood Wall Street.
You can discard all of these completely and finally.

emtgrpci42
02-25-2016,
I have a small long position in GPRO. May be adding here.

Daily Chart:
2016_04_26 GPRO.PNG

ErenTrogstono
02-25-2016,
Long CAT another one that experienced long-term contraction of supply (absorption by the CM) and a change of character in Phase C.

Daily Chart:
2016_04_26 CAT.PNG

etemiexiq
02-26-2016,
POT reports before the open tomorrow. I am long. Note the clustered closes for 6 trading sessions before today. They're either distribution or absorption. Probability favors absorption because 1) volume remained low on reaction yesterday 2) comparatively narrow range instead of a 50% retracement of the up-wave, and 3) after the recession, price and volume reacted higher (today).

evapi69
02-28-2016,
Nice! A thread dedicated to pure Wyckoff. Reading thru Day Trader's Bible now...