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Wyckoff trading method, page-659

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gamefisherman

3,651 Posts.

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31/03/16

19:32

Post #: 17395043
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Originally posted by Jako64 ↑

It depends on what timeframe you are trading in, and where your entry was-

For instance, if you were momentum trading, and you bought the breakout above the potentially bullish first reversal (probably on bar #1 or #2 if you had been dithering a bit).
I would have really tightened up my stop (or just sold) at the close of bar #5 (the narrow spread up bar on high volume), that was potentially full of selling.
And would have probably been stopped out two bars later (if you hadn't already just sold).

Then again if you were already in, or bought at or near the lows of the potentially bullish reversal, on a possible swing trade (or crawler trade), you may have held until the weakness became very obvious, then tightened the stop up to be just below the low of the failed reversal (and you would have been stopped out on the breakdown bar).

It just depends on what timeframe you are trading in, and what the intention of the trade was,........eg- someone trading off the weekly or monthly chart may still be holding that position.

cheers

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Great and fully understand your reasoning, now it just needs to soak in permanently. Your response has also been one that triggered a question that has been on my mind for sometime now but will ask it later on when we are looking at entries and exits and trading the Wyckoff/VSA way.

Thanx Jako
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