1-Why do you not display the "candle open" tick? Wholly Irrelevant/distracting?
ie. why do you use HLC and not OHLC candles? (just personal preference?)
Do you remember what I said about weekly bars being stronger than one hour bars, because they hold more 'information within them. Well the open has had almost no real trading at all, so the open holds almost no 'info' (the only thing it can be used for IMO, is to show what the initial response from the previous bar is).
It can easily be misleading as well (or a dead set manipulated fake out), especially on a daily chart, because there has been no trading yet.
Candles are confusing I reckon, particularly when they have not been set up correctly for Wyckoff/VSA type analysis.
I find Bar charts are much more clear to read.
The issues come from the way the candle is built. They will generally show as RED when they close lower than the open, and GREEN when they close higher than the open. However in Wyckoff/VSA we look at each bar (candle) relative to the previous bar (not relative to the open). So the relationship is 'close to close' not 'open to close' - for instance a period can be higher 'close to close, but the close can be below the open - in this case it is an 'up' bar for Wyckoff/VSA (Green), but would be shown as a RED (down) candle....or vice versa for a bar that closes lower close to close, but closes higher than the open.
Some software allows this to be changed, and can fix the issue, but I still find a bar chart much easier and clearer to read.
2-Is VSA/Wyckoff better seen using bars rather than my Heiken Ashi candles?
Use whatever works best for you, just understand what (if any), shortcomings there are and why.
3-Does the COLOUR of your volume candles matter? at all? much?
Nope, colour makes little difference. I would change it slightly myself if I could, but that software I use doesn't allow for me to change is how I would like. (and I am too much of a cheapskate to buy new software). I have changed all the volume to a single colour at times, but I prefer the up-down colour change to match with the bars (I would prefer to remove the pink volume, as it refers to a VSA rule which I don't follow exactly anymore, as I find it a bit misleading and inflexable)
4-Are there any obvious reads in either chart below that is clearly wrong? or could be clearly improved?
Entries and exits are a personal thing, some traders buy the 'up' bar that is showing 'intent',
where others will only buy after the 'intent' is shown, then buy on a retrace of some kind in response (and if that response doesn't come, they just look for another trade).
Some traders want or need exact rules, and write them into their trading plans.
I prefer flexibility - and sometimes that is to my detriment - and other times that is to my advantage - I have learned to understand my shortcomings and try to reduce my flexibility errors to a large degree.
So long as you can 'see' the trade, and understand it is there, the actual style of entry is up to you.
Personally, when trading (as opposed to investing), I prefer to take the trade as close as possible to the danger point, as that reduces the amount of risk considerably - however when investing I prefer to wait for some further 'intent' to be shown before entering (I miss some profit in doing this but I gain a higher success rate in return).
5-Do you have quantitative (not just discretionary) means of confirming signals of No Demand and No Supply?
Ummm, I am not exactly sure what you are asking here.....
I think you mean, do I have 'hard and fast rules' for no supply and no demand'
If so, No, not exactly
I am more flexible than the general VSA rules suggest. I have developed my own style to some degree, and only use the 'official' VSA training as a guide now. The VSA training is adequate to begin with, and will generally keep you out of trouble. But once you get more advanced, the shortcoming in VSA are obvious.
The inconsistencies are particularly high in lower liquidity markets.
You also need to be sure to be sure you are not just looking at the individual bar.
It must be put into context with the current background of the chart.
If that is the wrong answer, you will have to (briefly) explain further, as I don't have the time to spare to watch the video right now.
6- Are the phases of Distribution and Mark Down necessarily distinct? or can they overlap?
Generally they will be different principles, however 'anything can, and does, happen in the markets, so I would not be surprised if somewhere a distribution has morphed in to a mark down phase without an obvious transition.
Generally you will see a 'clear' breakdown bar from the distribution zone, and that will lead into the first phase of a mark down.
7- In light of any gaps my questions indicate, can you suggest a good Youtube vid on Wyckoff/VSA?
Search Google and/or youtube for vids featuring Philip Friston (VSA), David Weis and Dr Gary Dayton (Wyckoff), I found them to be the best.
The clearest teacher of VSA BASIC"S is Philip Friston (retired private fund manager).. Sadly there are very few Free videos available featuring Philip, and what are available, are often interrupted by Gavin (who completely spoils the analysis and the vibe). Philip has heaps available in the VSA club, but I don't even know if that exists any longer, and if it does, it was waaay expensive last time I checked (years ago). There are a couple with Philip and Gav together on youtube, but not many (just search out the Philip parts). It really depends how how much you already know, if you are fairly advanced try David Weis, and Dr Gary instead - and try to find some bar by bar analysis, as that training can be easily adapted to waves later.
8- Finally, are there other trading techniques (beyond VSA) that you have found particularly powerful?
Not really
I did spend 6 months in a trading room with a pro futures trader, that was expensive but worthwhile
Before you further your techniques, you should have a thorough understanding of basic Wyckoff and VSA principles, and following that, with experience, you will develop your own style.
After many years of training for both chart reading and trading (they are very much separate topics), I have kinda developed my own stle which suits me (my personality, my risk profile, my account size etc.)
hope that helps...
I am happy to offer some help, but would prefer to do it on the Wyckoff thread in 'education', rather than this thread.
cheers
.
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