Trading by Wave

Discussion in 'Journals' started by txpoker, Feb 20, 2014.

  1. txpoker

    txpoker

    I am going to start my journal of NQ trading. I am in Central time zone

    I use Wyckoff methods and Price action in trading.

    there is only wave volume on chart, no bars, no fancy indicators... simple...no noise

    here is today's trading.

    Trade 1: 3640 is support I got from hourly chart. the secondary test wave had only 1600 contracts, much lower that prior down wave of 12,300 contracts, it told me supply exhausted, demand overcame supply, after entry, the first up wave has 7100 contracts, sign of strength

    Trade 2: still near 3640 area , price had COB, the test of bottom of TR was the entry, it was also halfway back of COB up wave. volume was 4400, higher than 3100, but price did not make LL, effort vs result

    Trade 3: it is the same as trade 2, the bottom of TR, the 1600 volume told me the exhausting of supply. since it was much lower than last down wave

    Trade 4 and 5: they were JOC retest, the text book setup
     
  2. GiantDog

    GiantDog

    Using the Weis wave indicator huh? Interesting.
     
  3. niko

    niko


    Yep, very interesting stuff. Like Wyckoff wave chart. Have you explored a way to get the number of trades (activity) in each wave?
     
  4. txpoker

    txpoker

    same set up....

    JOC
     
  5. txpoker

    txpoker

    hi, niko, the original wave indi has number on each wave...:)
     
  6. txpoker

    txpoker

    seems COB
     
  7. txpoker

    txpoker

    ST with no demand, and price dropped, now near support
     
  8. txpoker

    txpoker

    price continues moving lower and forming down channel
     
  9. FootPrint

    FootPrint

    Great Wyckoff Trade

    @txpoker
    What's your barchart type with weiswave? tick ? how much ?
    thx
     
  10. txpoker

    txpoker

    I use tick chart, 3000 band 1000, depends on mkt volatility :)
     
    #10     Feb 21, 2014