Wyckoff trading method, page-2394

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justinh

229 Posts.

28/03/18

19:57

Post #: 32099293
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Originally posted by Jako8557 ↑

OK, I don't know the book.

Yeah, for me there were opposing forces at work on that chart, and the price action had not yet shown which side would win.
So it was unresolved, and made the outcome clouded or questionable (for me) at the cut off point.

No doubt some supply had arrived in mid September, which pushed price down. And usually if this is an important supply event, price would either quickly break lower (like a pump and dump), or double top (with maybe a little sideways action following it, to finish unloading, and to set fresh shorts). But neither of those scenarios really happened. Instead price put in only a shallow pullback and then attempted to consolidate (or absorb) the supply being drawn out. So for me it still could have gone each way, and I would have waited for price to break one way or the other.

You had me wondering if it was a trick chart, and if the next bar would be a widespread response by the market, where an unexpected announcement causes either a large scramble for stock, or a massive sell off ..... both of which happens from time to time.

cheers

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So you'd agree his conclusion based on the second dip with increasing volume was overly simplistic.

Maybe unsurprisingly, since it's a real estate stock or ETF, it's long term trend continued up until 2016 to around 85 where it started rounding over after the 4th thrust. (same shape whether viewed daily, weekly or monthly)

Last edited by justinh: 28/03/18
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Wyckoff trading method, page-2394

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Sales growth pushes Lovisa's fortunes (and shares) upwards

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

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

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Wyckoff trading method, page-2394

Top Stories

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

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Sales growth pushes Lovisa's fortunes (and shares) upwards

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

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Featured News

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