Australia's largest stock trading and investment forum Australia's #1 stock forum

Wyckoff trading method, page-2067

First 2067 Last

Share
Profile

Follow
FreeYourself

681 Posts.

52

30/06/17

00:47

Post #: 25578603
Share

Originally posted by Jako8557 ↑

Thanks for the chart, yes I can understand what you are seeing and describing.
and yes, the supply that was being drawn out as price broke out was most likely stale supply from the left, as you showed in the earlier chart.

On your chart with the commentary, the second last bar has increased volume, and the highest since the breakout, but price only closed one cent higher. I agree at the time it could have been absorption, but price needed a close watch at that point in time. Then when the next bar (the last bar on your chart) closed lower and had still quite high volume it is a warning that all may not be well in the short term.

Overall pretty good analysis though, especially for you first one..

It appears that price has now come back to test the strength of the breakout @3.05 where it should be found that previous resistance is now support if all is well.....

cheers

Expand

Cheers Jako, I'll def take your comments onboard for the future. I'll try get some more charts up over the weekend as this kind of help is invaluable.

Also you changed your name?
2 Upvote

Reply

Top Stories

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

ME1

Banshee's historic trenches prove rich in antimony and gold for GDM

AUN

Cyclone signs MOU with Vale for development of Iron Bear play

LYN

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

EDE

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

AN1

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

HotCopper Highlights: Your most watched stocks for Week 46, 2024

There are more pages in this discussion • 392 more messages in this thread...

First 2067 Last