Anatomy of a Day Trade Here is a trade taken this morning (Friday, June 15th). We’ll see how this set up, was traded and it’s outcome. Last night in my weekly Deep Practice program, I cautioned members that the weekly chart was looking weak. The narrow range of the past four days didn’t inspire bullish confidence. We discussed the weekly and noted that were the … [Read more...]
Wyckoff Trading Method Follow-Up
Here’s a follow-up to my earlier post on trading the Wyckoff Trading Method off the 4-hour chart. Although the Wyckoff Trading Method does not integrate the various time frames in its analysis (it uses the P & F Chart for the higher time period), the weekly, monthly and other higher time periods can shed a lot of light on the anticipated next move of the market. It was … [Read more...]
Locating Trades: Market Structure is the Key
Locating Trades What do you do in locating trades? Markets put in key levels of support and resistance, which can then be traded if the market revisits the area and the price and volume action are right. We give several examples of locating trades on this recent 5-minute chart of the S&P e-minis. Locating Trades on the S&P e-minis The previous day sold off … [Read more...]
Market Action Today
Today's Market Action--Surprising? The market action this morning may have surprised some traders. We saw the market start to rally strongly after putting in the January 6th low. I had emails from more than one trader saying that this rally looks very similar to the push off the mid-December swing low. They argued for new highs. I have been doubtful about that. A few things … [Read more...]
Wyckoff Spring Lights Up Market
A Wyckoff Spring brought holiday cheer to the market today. Christmas came early as the first good trade against a reliable edge today lit up the market. Wyckoff Spring Entry After rallying above yesterday's high and the two-day high in the overnight market, the S&Ps hit a little selling around the 10:00 AM (Eastern Time) inflection point. The downside volume started … [Read more...]
