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The two-part course is the most practical in terms of how to, particularly Section 7. Philosophy and theory are fine as underpinnings, but they can go only so far. At some point, one wants to know what now?
Can you help answer these questions from other members on NexusFi?
Ok, I plan to read both cover to cover. I will put off his other books. One of things that interested me in Wyckoff is that it appears many have used his methods and theories, but he isn't often cited as a source. That led me to believe there is probably more there to research on my own.
That's partly because the course didn't become generally available until a few years ago (through the Library of Congress) and partly because gurus tend to want to give the impression that they came up with this stuff on their own.
Reading it cover to cover is always a plus if you're really into this. Otherwise, I suggest you start with the "Lite" version and use the rest of the course as a resource.
I'm not sure if DP frequents this thread or site that much. I put together some charts with my take on the spy. Obviously some weakness has come in, but no real way to know how far it goes. I still think there is room for more downside. An estimate would be the 160 level. I would think if that breaks then it opens the door for 155-156 area. For the immediate I'd watch today's low for next week as well as the character of any rally for a potential short. Just my .01 cent.
Some important levels / actions.
Critiques welcomed.
Note for DB - You started this thread with two quality analysis for Gold/Silver. It would be great if you'd follow up on those, with what actually happened and interpretations of the events.
Not much to say. It broke out of a trend channel into an overbought condition a couple of weeks ago but has now returned to that channel. What one does about that depends on his trading strategy. Do you have a trade on? Are you thinking about entering one?
I find pontificating about markets to be boring, particularly when I slip into it. That stuff is best left to the vendors since they don't trade. The hindsight stuff is even worse. I made the posts about gold and silver because somebody was trading it. Or so I thought. Turns out they weren't. But, in a nutshell, price failed to hold above the supply line, in which case the LOLR became down. So gold fell to the last reasonably major trading range, which is where it's been ever since. I'm not trading it, though, so it's of no interest to me. If someone is actually trading it, I'll be happy to help with their strategy.
I've currently read into section 8. Section 7 was some of the hardest reading I've ever done. Very hard to follow his narrative and some of the chart dates can't be read which makes it even harder to go back and forth with his narrative. I'm sure I would have gotten more out of section 7, but I was pulling my hair out to get through that part. There is good stuff here, but his writing style and layout make some of it a tough sled.