Wyckoff trading method, page-444

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jasonvip1

2,710 Posts.

24/02/16

17:10

Post #: 17106480
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Originally posted by Jako64 ↑

Hmmm, maybe.....

Don't get too impatient, just let things happen, and when the probabilities are in your favour, then do your thing.
Unless you are day trading the wiggles (that is a bit different), there is no need to pick the absolute tops and bottoms (and you can often get pretty close to them anyway, after the fact...., using tests and no demand for entries). Just wait for the market to do its thing, and then catch the bus......

Just on those last two daily bars, firstly, the volume is similar to the upbar that was 'full of selling' previously, so it is wasn't REALLY high relatively. And secondly, the first of those two bars didn't have a lot of support in it, as the next bar was lower (although it did attempt to rise, so there probably some buying on that bar), and then the most recent bar attempted to rally, but eventually lost 100% of the gains, and closed lower.
So generally two bars like this only suggest temporary support in a downtrend, and not serious support.

What is it doing today so far ??

cheers

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Hey Jako - i am just beginning in the stock market basically, and i was wondering where / what is the best way to learn about charting. Literally starting from the bottom - and want to know how to read / analyse charts etc - willing to pay money for courses and all that. Just wanting to know the best way to proceed to learn
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Wyckoff trading method, page-444

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