The S&P Chronicles - An Amalagnation of Wyckoff, VSA and Price Action

This is a discussion on The S&P Chronicles - An Amalagnation of Wyckoff, VSA and Price Action within the Discretionary Trading forums, part of the Methods category; Hello Sir, @ Peacefull Warrior When do you give importance to Wave count, be it either on a 5 min ...

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Old Aug 2, 2017, 3:50am   #46
Joined Dec 2012
Hello Sir, @Peacefull Warrior

When do you give importance to Wave count, be it either on a 5 min chart or on a tick chart?

Today you never mentioned the wave count; suppose for instant on the first trade, when you detected a no demand bar you went short - excellent. for me i'm looking at wave volume of 77 compared to previous volume of 53 and in my mind I'm thinking the current wave has more demand at the moment compared to the previous up wave and why take a short? (i know you gave a good compelling story on on why you took a short - is that strong enough to ignore the wave count?)

similarly on you second trade where you went long, i notice the spring in real time, (admit that i did not read the volume clearly as you mentioned as denoted 1,2,3,4 & 5) with a vol of 97 compared to a volume of 41 for the previous down wave - you may call this, twice the volume of previous down wave but still did not go lower and hence a good case for long.

Just curious to know the priority of importance one should you give to wave counts

If this question is stupid, please ignore. Just trying to learn.

N.
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Old Aug 2, 2017, 2:13pm   #47
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Peacefull Warrior started this thread @novicetrader33

There are no stupid questions, it's important to be inquisitive:

With regards to wave volume remember that 1 wave combines a whole leg of information, sometimes when we dissect (for example bar by bar) we gain additional info. Personally I prefer to use both charts the 5min and tick charts.

The 53k upwave was the no demand bar I traded, on the second approach we had higher demand with 77k (not that overt) but nearly twice as much as the previous down wave, hence no short.

Via your chart its clear to see effort vs result in wave format. Compare both downwaves 41k and 97k with over double the volume on the latter, we have made the exact same downside progress (within a tick or two). So we know that over half that volume is actually buying, it has to be otherwise we would have made a much larger leg down. (hidden buying) When we look deeper into the wave bar by bar, we have evidence of buying as per Chronicle. You understood the effort vs result principle as you have clearly noted, its just takes time to build the confidence and pull the trigger in real time.

The importance of waves has to be used in context and is nothing more than individual preference. However, the lower the timeframe (intraday) higher the importance, personally I don't use wave volume for anything over 60m for setups, perhaps for analysis - this is discretionary, a mere personal preference

Hope this helps

F

Last edited by Peacefull Warrior; Aug 2, 2017 at 3:30pm.
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Old Aug 2, 2017, 2:30pm   #48
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Peacefull Warrior started this thread
Quote:
Originally Posted by OKTiger23 View Post
From an aspiring trader of the same discipline looking to put in the work to get where you are - thank you for each and every post. There is a gold mine of knowledge in this thread, I will be catching up for quite some time.
Thank you very much for the kind words, it genuinely pleases me that others can benefit from the Chronicles.

As a fellow Wyckoffian (noted your reading list) you have made the hardest decision in all of trading - that is of method/strategy.

If I could give one piece of advice DO NOT STRAY (try not to think of adding a moving average or any additional indicators, wait until you have mastered the core principles) This method works, has done for a 100 years. Stick with it, put in the hours of screen time/practice etc. Go through the fundamentals day in day out, and the markets will literally open up for you too.

Good luck,

F
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Old Aug 2, 2017, 11:22pm   #49
Joined Jul 2008
ES 2nd August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Waves
Effort vs. Result (waves and bar)
Price action aberration
Climatic bar
Change of behaviour

and some Bar by Bar analysis

PDF attached (4 pages)
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File Type: pdf ES020817-1.pdf (392.6 KB, 102 views)
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Old Aug 3, 2017, 1:38am   #50
 
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Quote:
Originally Posted by Peacefull Warrior View Post

If I could give one piece of advice DO NOT STRAY (try not to think of adding a moving average or any additional indicators, wait until you have mastered the core principles) This method works, has done for a 100 years. Stick with it, put in the hours of screen time/practice etc. Go through the fundamentals day in day out, and the markets will literally open up for you too.

Good luck,

F
Advice taken - thanks again.
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Old Aug 4, 2017, 12:25am   #51
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ES 3rd August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Spring setup
VSA no demand setup
Waves
Effort vs. Result
Climatic Bar
Bar aberration (hidden selling)

PDF attached (3 pages)
Attached Files
File Type: pdf ES030817-1.pdf (271.1 KB, 93 views)
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Old Aug 5, 2017, 2:07am   #52
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ES 4th August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Apex's
Wave (no demand setup)
Trend Channels

PDF attached (2 pages)
Attached Files
File Type: pdf ES040817-1.pdf (216.0 KB, 166 views)
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Old Aug 7, 2017, 10:08pm   #53
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ES 7th August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Spring set up
VSA no supply setup
Sign of strength (SOS) Bar
5m climatic bar?
Wyckoff thinking - background conditions (core component)

and a little on tick data and market behaviour 3 pushes....

PDF attached (3 pages)
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Old Aug 9, 2017, 2:11am   #54
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ES 8th August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play into today's action:

VSA no supply setups x 2 (tests)
Spring
Wyckoff Classic setup (rally back to ice)
Change of Behaviour
Waves
No demand
Trend Channels

and price action aberration (comes into play 150 mins later)

PDF attached (3 pages)
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Old Aug 10, 2017, 1:01am   #55
Joined Jul 2008
ES 9th August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Climatic Bar
Wave set ups x2
Trend Channel confluences
Spring setup
No demand rally
No demand set up

PDF attached (3 pages)
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File Type: pdf ES090817-1.pdf (422.5 KB, 104 views)
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Old Aug 11, 2017, 2:08am   #56
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ES 10th August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Classic Wyckoff setup (rally back to ice)
Classic trend trading setups (weak rallies to a confluence level)
Testing upthrust setup
Waves
No demand (multiple)
Reverse use of trend line

PDF attached (3 pages)
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Old Aug 11, 2017, 11:23pm   #57
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ES 11th August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Change of behaviour
Shortening of the upthrust
Upthrust setup (perfect back ground conditions)
Apex setup (readable)
Waves

PDF attached (3 pages)
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Old Aug 13, 2017, 11:19pm   #58
 
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I just wanted to say this thread is eye opening. I use some of these same concepts, but putting it all together is incredible.

Is there any way you could talk a little about how you trade crude oil, or perhaps include your crude oil analysis along with the S&P?

Thanks again, I really enjoy reading and learning from you
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Old Aug 14, 2017, 11:30pm   #59
Joined Jul 2008
Peacefull Warrior started this thread Appreciate the kind words and feedback,

CL is a volatile beast, due to its nature I tend to swing trade. However due to the amount of requests, I shall produce a special edition of the Chronicles - A full weeks worth of trading using CL as my main instrument using intraday timeframes

Hope this helps,

F
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Old Aug 16, 2017, 11:56pm   #60
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ES 16th August 17

Peacefull Warrior started this thread Wyckoff and VSA principles at play in today's action:

Shortening of the thrust
Change of Behaviour
Upthrust (untradeable)
Upside shakeout
Hidden selling
Effort Vs. Result
New momentum low (setup)

PDF attached (3 pages)
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