We are continuing to see weakness in the US Stock Market with today’s inability to rally higher. A break below today’s/yesterday’s lows will lead to lower prices.
Four Day Trades
The inability to rally set up several nice day trades today. The first (1) was an UpThrust with demand tiring. This brought out the supply as seen in Wave A on the Weis Wave.
Another short occurred at 2 as the market was unable to surmount resistance, putting in a lower high. We basically see the same trade at 3, though now we are in a confirmed downtrend. This runs until the market becomes oversold.
Just as supply came in at A, demand surfaces on Wave B, pushing price up through the Supply Line. If you hadn’t had enough trading, two opportunities to go long on ‘no-supply’ pullbacks occurred at 4.
The Wyckoff Method continues to offer clear, well-structured trades day in and day out. It’s not about signals; it’s all about reading the market by its own actions. It takes effort to do, but you can see the potential results.
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hi
Did you actually take all of these four trades in real time..?If yes..then congrats for amazing chart reading skills.
Regards
Akshay
Only the first two; then stopped trading for the day.