Hi Cabbie, yes this and the Charting and Chat thread were my two favourite threads, and if Jako was still posting concepts and a quiz every now and again, they still would be. I found the Charting and Chat thread when I was extremely new to charting and asked a bunch of really basic questions which were always answered kindly by a bunch of chartists that had been around the block a few times, and introduced me to VSA which is still the lens I look at the chart through.
LTR to me is a good example to me of how hard it is to identify sometimes whether it is in re-accumulation or distribution while it is playing out. Probably because all re-accumulations start with distribution at the beginning and Phase A and most or all of Phase B can look exactly the same. For my quiz fix nowadays I occasionally visit the Wyckoff Analytics website and play their weekly "Bias Game" ( https://www.wyckoffanalytics.com/bias-game/ ). Some are very easy to pick whether distribution or accumulation but if I get more than 7 out of 10 correct I do a little victory lap because some of them still make no sense to me. One thing I noticed however was how often the major behaviour clue comes right near the end of the consolidation, despite what the earlier parts of the pattern look like to me.
So with LTR, back in early 2022 I was reading that as re-accumulation until where you have UT labelled on the chart, which I think you had labelled as UTAD at the time and I flipped to agreeing with you as distribution, and indeed price dropped heavily after that. But no the pattern had not completed and has doubled in length since then with another round of clearly bullish and bearish moves as part of it. Only 3 weeks ago and especially clearly on the weekly chart it looked like text book distribution again. But the last two weeks has seen another change in behaviour and a higher low where the selling has not followed through, but I struggle to see that it is clearly re-distribution or a small accumulation pattern. Yes where you have labelled bclx was definitely a SOW and followed through to the downside, but I think I need to see more for me to plant a foot in either camp.
In the end if I can see an obvious Wyckoff accumulation or distribution playing out, it is really useful in a similar way to trading with the trend, but in general don't find it very useful for finding the entries and exits I like and for trade management- there's other methods that I find more useful. Maybe because I am looking at a reasonably short horizon from a couple of weeks to a few months for my "campaigns" or just because obviously I haven't mastered it yet!
Hey maybe we should get the Charting and Chat thread going again- there's always plenty of topics to discuss and we need a place that doesn't get derailed by the knobs who jump in saying "charting is useless because I don't get it". Maybe we could discuss the merits of Fibs and Harmonic patterns- I know that is close to your heart! But in the meantime, it would be good to hear some of the thought processes or major behaviour clues you use to identify the Wyckoff phases.
But in the meantime, it would be good to hear some of the thought processes or major behaviour clues you use to identify the Wyckoff phases.
