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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action
Thanks for the great note at the end of 10/10/2017 S&P Chronicle. I did look for another leg down after we had a down wave followed by a weak rally (price overlapped).
I found you use different type of chart inside the S&P Chronicles. For example, on 09/10/2017 S&P Chronicle, you use Daily, 60minutes and 3500 Tick chart. However on 10/10/2017 S&P Chronicle, you use Daily, 15minutes and 5minutes chart.
1) During the market unfold, do you watch 60M, 15M, 5M and 3500T chart together? Or under certain day, you just watch 60M with 3500T charts and other day you just watch 15M with 5M charts. Or any other combination?
2) What data you try to obtain from these individual charts(60M, 15M, 5M, 3500T) ?
3) You put your entry and exit trade based on 5M chart or 3500T chart?
1 - Yes, all time frames are monitored, a mere personal preference. However, try to make time frames that you use at least 3 or 4 times larger, for example 6000 Tick, 18000 Tick, 54000 Tick or 2m, 6m, 18m, 1hr, 4hr etc
2 - Higher time frames provide the general direction, they all give a different flavour to price action
3 - Either or both, in general the tick chart provides better structure. If the market is extremely volatile, I will only use the tick chart as we have more data (subtleties to work with). If new to the method I would highly recommend to sticking with one chart either the 3500 tick or the 5m chart.
Wyckoff and VSA principles at play in today's action:
Effort vs. Result
Weak Pullback (setup)
No supply Price action aberration
Top reversal
Waves
Classic Wyckoff - Rally Back to Ice (setup)
Comparative analysis
Wyckoff and VSA principles at play in today's action:
Accumulation (Buying zone)
Multiple Time Frame Analysis
VSA No Demand (setup) - Good background conditions Price action aberration?
Spring (setup)
Trend Channels
Waves
Compare and contrast (Wyckoff thinking)
Volume off the Bottom (Wyckoff element)
Wyckoff and VSA principles at play in today's action:
Major Price Action Aberration
Multiple Time Frame Analysis (setup) VSA Test - no supply
Compare and Contrast
Bottom Reversal/Spring (setup)
Market Behaviour
Waves
Effort vs. Result
