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.......nicely pointed out......Richard and I have much in common...

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gamefisherman

3,651 Posts.

69

01/01/17

20:34

Post #: 21631850
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Originally posted by Jako64 ↑

Haha GF, OK no more food or drink........

If you were Richard Wyckoff, who was most confident in trading a period of markup or markdown, as this reduced risk as much as possible.
You would wait for a confirmed breakout, then trade the markup. This would also alleviate the wait for a breakout, when price is still trading in a range.

It also depends in what timeframe you intend to trade (see below).

That said, if you can't wait and trade something else in the meantime, you could trade it within the range if you are nimble, or 'accumulate with the accumulators' by buying whenever price spikes unexpectedly lower and placing a tightish stop. And doing this with the expectation that price will not actually breakdown, but 'miraculously' recover as mentioned above (and if price does actually breakdown and fail, your tightish stop should have reduced your risk (loss) considerably).

View attachment 390191

hope that helps a bit.........

cheers

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.......nicely pointed out......Richard and I have much in common I suspect. Reducing risk is very underrated.
Wyckoff is a mentor to so many.

Happy 2017 Jako, regardless of what happens this will be a big trading year, full of fine treasures

Cheers
GF
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