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Video for Friday June 10, Its long (25 min+), but I cover Crude, Gold, 6E and TF. I wanted to add 6E and TF since I posted charts on those two the other night.
ok well .. i dont trade stocks atm , so i dont follow wyckoff´s steps .. what i do thou is reading the charts in wyckoffs way .. also i use PF charts only for cause and effect .. ie price target projection ...
my trading style is based on reading charts (price action , volume) wyckoff style ... but i dont use wyckoff wave
also u wont find classical charts where u can pinpoint 9 buying and selling tests .. i rather stick to charts wich speak to me .. not trying to fit something in there ...
attached is a bar by bar analysis doen by wyckoff on NY Times Average 50 stocks from 1930-31,
also check the wbinar archieve of LTG Trading - Webinar and Chat Room Archives where there are several videos
of gary fullet teaching wyckoff bar by bar analyisis .. good stuff
Thank you for your personal evaluation. Others have noted what you described that it isn't really necessary. One beneficial aspect of the charting is the 3rd party add on from Powercharts built off of VSA but uses moving average momentum for entry timing. Currently, I continue to swing in the direction of planning my trades around overbought areas of a market using Market Profile with fibo extensions. Essentially, VSA and MP Value trading are both complimentary styles that nicely dovetail together. However, parting with the now $2000 price tage is a little more than I am willing to do. I would prefer to rent it on a monthly basis and then could dump it if I found out that I did not need it. Perhaps that is what other traders were doing when they leased it because leasing is no longer an option.
Anyway, thank you for the guidance and counsel. It is very appreciated.
I watched the webinar for 6/5/11. Gary knows his stuff, but one thing he was wrong about was the s&p. He was trying to prove someone wrong in the chatroom that the s&p was not going down. He was arguing with this individual in the chat room for a while. Well, he was wrong. It proves to show the one's with the most knowledge can be wrong.