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I want to thank you very VERY much for this thread. I have been lurking on and off these boards for a long time, and
yes, this is my first post ! I have gleaned a lot of info through other posters here, and have been negligent in thanking
them, and I do apologize for that, but your thread has finally galvanized me into action...
Like so many others, I thought I would learn to trade to ''supplement my income". And, like so many others, I was totally naive as to how difficult it was, in spite of all the evidence (eg. on this site) as to the truth of that difficulty. My journey has led me through basics, to Wyckoff (via books/webinars from David Weis and Gary Dayton) and to Al Brooks.
Still can't trade worth a damn.....
Strangely enough, all that wisdom, while providing me a great basis for trading, never made me feel comfortable enough to feel (somewhat) confident. Your thread has finally put it all together for me. No, I am not a successful trader (yet), but I now see a light at the end of the tunnel. I have only recently discovered your thread, but I am finally able to put together a 'story' of the market. Not always right, but getting there.
Anyway, sorry for making this so long, but thank you very much (again!) for this thread. I am still working through it, but it is totally awesome !!!
Cheers,
Wyckoff and VSA principles at play in today's action:
Indepth multiple time frame analysis (daily and weekly)
Spring (setup)
No supply (setup)
Comparative and Relative analysis
Structure
Overbought conditions
Effort vs. Result
Testing
Wyckoff and VSA principles at play in today's action:
Upthrust (setup)
Effort vs. Result
Spring (setup)
No supply
Excellent volume characteristics
Trend Channel
Multiple time frames
Market Top
High volume areas Inside Bar
Feibel wrote:
"The US opens via the supply line and we fall in spectacular fashion (untradeable). Even though one
has a sense and you can see the market drop, we need reasons to short, the market did not provide
clear entries, we could let the market pull us in, however we are too close to major support lines,
these are not high odd trades, sometimes we must sit, watch the market unfold and be patient."
Sure. But I would like to point out that in many cases one can find an (with higher time frame trend) entry on the lower time frame like the 1m with the same principles.
Yes of course, one can drill down to 10 sec charts if desired. However, with my style and the amount of markets I trade. 5m is low enough to cancel the noise, more importantly sanity reasons :-)