Welcome everyone! I would like to disclose that this is not financial advice, merely an observation from what I have learned up until this point. I am fairly new to trading so if a couple things are a bit off I do apologize, but nonetheless the fundamentals are there, and fairly obvious. I hope you all enjoy and learn a thing or two from my overview. Let's begin!
So, first I would like to introduce you to Richard D. Wyckoff (November 2 1873-March - March 19, 1834), an early age stock trader, and educator. As well, the founder and editor of the Magazine of Wall Street, and editor of Stock Market Technique. He was very good at what he did, so good in fact that he owned nine and a half acres and a mansion in Great Neck, NewYork. His methods are still used to this day and help project ranges and identify two of the most important phases of market cycles, accumulation and distribution.
So the Schematic I'm using today is the accumulation schematic. It is used when price has been in a strong downtrend, vice versa for a strong uptrend (Distribution). This is the weekly chart for EURUSD. And when compared to the schematic, it's made into a much simpler, more understandable way to look at it. This allows for precise execution on trades and increases the probability of you winning said trades.
There are 6 important periods within the Wyckoff Accumulation.
- Preliminary Support
- Selling Climax
- Automatic Rally
- Secondary Test
- Spring
- Last Point of Support
Then the final sign of upwards momentum. All of these periods of time can easily be identified when compared to the schematic. So do yourselves a favor if you are new and print out your patterns, formations, and candlesticks. Have them with you when you trade. Practice them, focus on pointing them out in the market. Then execute a well backed and high probability / minimal loss trade. Be confident, remember the market has rules. Good Luck!
www.google.com/url?sa=i&u...
Sources:
phemex.com/academy/wyckoff-accumulation
wyckoffsmi.com/about-wyckoff/
So, first I would like to introduce you to Richard D. Wyckoff (November 2 1873-March - March 19, 1834), an early age stock trader, and educator. As well, the founder and editor of the Magazine of Wall Street, and editor of Stock Market Technique. He was very good at what he did, so good in fact that he owned nine and a half acres and a mansion in Great Neck, NewYork. His methods are still used to this day and help project ranges and identify two of the most important phases of market cycles, accumulation and distribution.
So the Schematic I'm using today is the accumulation schematic. It is used when price has been in a strong downtrend, vice versa for a strong uptrend (Distribution). This is the weekly chart for EURUSD. And when compared to the schematic, it's made into a much simpler, more understandable way to look at it. This allows for precise execution on trades and increases the probability of you winning said trades.
There are 6 important periods within the Wyckoff Accumulation.
- Preliminary Support
- Selling Climax
- Automatic Rally
- Secondary Test
- Spring
- Last Point of Support
Then the final sign of upwards momentum. All of these periods of time can easily be identified when compared to the schematic. So do yourselves a favor if you are new and print out your patterns, formations, and candlesticks. Have them with you when you trade. Practice them, focus on pointing them out in the market. Then execute a well backed and high probability / minimal loss trade. Be confident, remember the market has rules. Good Luck!
www.google.com/url?sa=i&u...
Sources:
phemex.com/academy/wyckoff-accumulation
wyckoffsmi.com/about-wyckoff/