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Since I'm cheap and currently don't have the Weis Wave (but wouldn't mind having it),
is a similar view with regular indicators. 2 different trigger charts, one with a 5min and the
other is a 3000vol chart.
a backdated reply but someone over here quoted me on how do i read the tape?
look at individual transactions, especially big ones and see what you can make up of it. Wyckoff didn't teach vsa, he explained tape reading.
I only do singapore stocks and after studying VSA for quite sometime, I believe tape reading together with market depth are the way to interpret the doings and intention of the big bones. It could be a little complicated, but just like vsa, it is just as logical as vsa is. Of course, VSA is bread and butter and it is like a quickie for me.
If you happen to be a singaporean too, do hook me up too. pm me or something!
My current es perception 1hr pre euro session start.
Looks set up to jump out of range.
Basically a similar constellation as last weeks Friday/Monday pattern with market opening at value area high on Tuesday, which if not fails here on potential lps, judged by vol and acc in the channel, opens doors for possibly final push higher above 1900s before we roll over to new fronts month.
The Daily showed a UT on Friday but the vol seems not yet too threatening to me, especially when looked intraday. Yesterday's daily poker below the lows of the UT as well as the two days prior which potentially were no demands. The result of that move below the lows was a low vol shakeout kind of bar, indicating a positive test to me from which I want to see some result today as confirmation to keep my view, else weakness.
Since hours we are testing the reaction level, where on Friday very high volume came in (orange circle) This is the blue thick line. we are meandering between this level, poc and today's Vwap (black dashed) which is indicative for position building and a move to come, the longer this takes the bigger the outcome. Keeping in mind, that we have other Wyckoff principles in the trading range behind us (prelim support, tests, SC) and we are at least in a lps position here, odds favor an upside move from here IMHO. Failing 1880 area constantly and not attempting to attack it, I have to presume I am wrong.