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There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
The chat and the videos are usually about current markets.
So the discussion uses all pieces of wyckoff method as they happen on that current chart
incl TL or reverse TL.
There is also a special webinar from October 18, 2011 that discusses how to draw parallel channels using Wyckoff principles. It's 1 hour, 23 minutes in length and located on the Module page of the website.
Gary
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
Thanks Gary,
I'll watch that video. I see a pdf and a text log on October 18, 2011 and videos on 10-16-11, 10-23-11.
In the BAC chart that I posted the supply and demand have reached a temporary "equilibrium" and I need more clarification of Wyckoff's method of determining "The Market's Readiness To Move". I've already seen how the E-Mini S&P500 Futures lead the market; so do you think that this will tell me when and which direction that BAC will breakout? I'm concerned that the breakout might happen so quickly that I'll miss it. Does the PnF chart help in determining the "Readiness To Move"?
I read your earlier response to the change in trends. Would you have any charts to post that display these two conditions that you described or do you have an archived webinar video on the topic?
The October 18, 2011 webinar was one of my "special webinars", so it's posted on the Module page. Click the yellow Module tab at the top of the page and it will take you to the recordings.
First, determining the trend is of the utmost importance and is the key to your question. A market trades from the left hand side of the range to the right side of the range. As the market continues to trade, as we get further along in the right side of the chart, we generally will see increased volume and increased bar length. This is an indicator that the stock is about to move. By equilibrium, I assume you mean clustered closes, or closes that are very newar each other.
No. The P&F chart is only used to determine count, or how far the move can potentially go.
Yes, Tuesday night (3-6-12)at 6pm Central Time, I am doing a special webinar and will be using Wyckoff's method to show you how the distribution process unfolds and the ending action after the distribution. I don't want to get into trouble for advertising, so if you're interested, contact me.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
I've heard that Price/Volume divergence can give some indication of the future direction of the price movement; however, BAC is currently in a range while the volume is decreasing. This can be seen on both the price chart and the PnF chart. Can you give some advice on this? Is this part of Wyckoff's method?
Maybe equilibrium is a bad term to use. I meant it as a relative statement that the range is an area where the prices don't change very much and supply and demand seem to be within a narrow variation. I shouldn't use the word "equilibrium".