Three nice shorts set up today. The first occurred just before 11:00 AM EDT. The market traded within the overnight range during the first portion of the US morning session. We could see some weakness come in after 10:00, but the market pushed back up in a weak rally for a final test of the overnight high. When that failed, the odds favored either a test of the overnight … [Read more...]
Chart Reading Mastery Starts Wednesday & FX Spring
Not every trade works out. We discussed the spring on the USD-JPY FX Cross market on the 4-hour chart in the free webinar held this weekend (video available at link below). We were looking for a pullback into the blue circle area and test of the spring. Tests confirm that selling has abated and give a good entry point. Unfortunately, this spring did not test. Instead, it … [Read more...]
FX Trade & Link to Free Webinar
Yesterday, we had a large turnout for the free webinar we did as a preview to Chart Reading Mastery. Thank you to everyone who came! Several people registered but were unable to attend. So we have provided a link below where you can access and watch the video recording. During the webinar, I was asked if the Wyckoff Method as I use and teach it is applicable to the … [Read more...]
Something for the Longer-Term Trader
We tend to focus on the small, intraday time frames on this blog. That's natural, because that is the bulk of my trading. I received a request, however, for a chart of the Weis Wave on a weekly basis, which I sent to the trader making the request. This request came at an opportune time for me because of some personal changes that are likely to happen in the next week or so … [Read more...]
Free Chart Reading Webinar
We are having a free webinar tomorrow to preview our Chart Reading Mastery course that begins next week. This course is designed for traders who would like to learn to read the market by its own action using the Wyckoff Method of Market Analysis. Through this course you can learn the skills of top traders, be able to anticipate market moves and identify high odds … [Read more...]