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Hinges and Springboards

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Old Mar 16, 2007, 1:02pm   #1
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Hinges and Springboards
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Last edited by dbphoenix; Apr 27, 2007 at 11:49am.
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Old Mar 16, 2007, 2:06pm   #2
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Whao this is heavy sh!t for a climax to the week! Way over my head but keep it going guys, this is excellent stuff here. Thanks to both of you for your input a lot of people will benefit from this debate.
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Old Mar 16, 2007, 3:07pm   #3
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Quote:
Originally Posted by dbphoenix
What weak hands and professionals are doing within the springboard is irrelevant to the springboard and to its function, as is candle by candle analysis. However, if you're eager to discuss all of this, you are free to open up your own thread to do so.
any probabilities that you'll expand further on what negates value of the actions of the participants ? the participants are creating the springboard in the present, here and now, unfolding........without the participants, their actions, the springboard is irrelevant the shape is resultant regardless of time taken.....we see and recognise the shape post production.......what comes before, the actions that lead to the shape........buggha......everytime I end at full circle with "the dam shape is irrelevant because I can only recognise it post-dated"

keep it comming........thanks

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Thanks! The post above is recommended by: mr.marcus
Old Mar 16, 2007, 3:53pm   #4
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Quote:
Originally Posted by dbphoenix
And the point of the thread is not prediction and tactics.
I thought the point of the SITE is prediction and tactics.
That's what trading is all about. isn't it?
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Old Mar 16, 2007, 9:58pm   #5
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'I understand your frustration...'

An exceptional post.

What do you mean by 'Was there going to be a lot of pushing and shoving, or was activity going to become quiet? This can be seen in real time. ' ?

What can be seen in real-time that isn't on a lower timeframe chart ?

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Old Mar 16, 2007, 11:55pm   #6
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Can you describe the kinds of movements and interplay you see as significant (pace, extent, etc) ?

Or more specifically...what did you see live in this example that led you to believe the probability was to the downside ?



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Old Mar 17, 2007, 5:36am   #7
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Quote:
Originally Posted by dbphoenix
Though some t2w gurus pooh-pooh Wyckoff, he's as accurate as he's ever been, and knowing something about the contraction and release that hinges and springboards represent can be of benefit to any trader.

Today was an especially good example of several of W's ideas.

1. A test of yesterday's high with lots of effort and little/no result.

2. Price consolidates/congests/whatever in a lateral movement. Volume (trading activity) practically disappears (3). There is no retracement or test by price, but the time spent in this springboard is a test in itself: the dog that didn't bark.

4. A short here is one of several possible entry points.

5. Possible Selling Climax.

6. Another PSC, but a Lower Low.

7. Another PSC, but a LrL.

8. A rally attempt, but zip volume, and price can't get past the last swing high.

9. Trading activity up on the downbeat. Covering here, or reversing, are options, but stops placed above this pause would not in this case be triggered.

10. Another PSC, but, again, a LrL. Not a bad short so far.
When I decided, many years ago, not to buy any more trading books I, still, had not got around to reading Wyckoff so, when I see dbphoenix recommending him I feel that I may be missing something! Is there any, specific, book title of his that I should buy to cover the subject of this thread?

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Old Mar 17, 2007, 6:10am   #8
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Originally Posted by Splitlink
When I decided, many years ago, not to buy any more trading books I, still, had not got around to reading Wyckoff so, when I see dbphoenix recommending him I feel that I may be missing something! Is there any, specific, book title of his that I should buy to cover the subject of this thread?

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Here's the most well known one:
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