hmmm... that's a puzzle piece ive been missing always wondered.. when theres a base count below with a higher objective, and a stepping stone count above with a lower objective....witch one to believe answer, the second one "should", in a perfect world, match the first one got it!
I won't say that rule always holds true. I need to study this more, but I think it is possible for a stepping stone to be shorter than the base and then rebuild another step at a higher level before getting to the base-count objective. One thing I can be more confident about is when the stepping-stone objective gets really close to the base-count objective, then I know it is getting near ready to move out.
holy cow!... TOS platform is bad ass on a computer!.. just got it downloaded today, I might not be using tradingview much after all just moved my BAC stop up nice n tight, locking in a 10% gain incase we see an Uncle Sam related sell off after the 1st
So glad you're enjoying your new toy from Santa. I use TOS on my phone but I hardly ever use the TOS platform on my computer. I don't like the look of it for western bars. When you zoom in the bars don't get proportionately thicker. The TOS bars are basically just the skeleton of the candles. Scottrade's Elite platform has a way better look and feel but TD-Ameritrade (TOS) bought them out and is currently transitioning. I'm afraid the Elite platform is going away because they are touting the TOS platform in their transition communications. Suffice it to say I use Tradingview 95% of the time. It has all that I need. It is easy to write scripts for personalized studies and I appreciate the look and feel. Also, I can pull it up at home or work. Granted, TOS has tons of bells and whistles, but I don't need most of them, and of course the options tools on TOS are exceptional.
My only complaints so far is TOS doesnt have an option for HLC bars, only OHLC... and the volume profile looks like crap and overlays the wrong direction Plus no P&F charts.... but the tradingview P&F chart is giving me hell for some reason... the colums are too wide, and when i zoom out the X's and O's get distorted.... annoying!
After topping at nearly $50 in April 2011, silver declined to about $14 and went into a trading range beginning Dec 2014 (3 years in the range now) and is looking good for an upside breakout in 2018. From $0.30-box by 3-box-reversal point and figure charting the price objective is now $60. That would be a 4-bagger from $15 and should be enough for the CM to let it move out. I am currently long the silver miner EXK, but looking for more opportunities. Weekly:
In remembering the year of 2017 now within hours of coming to a close we mustn't forget that one of the great mentors to Wyckoff students, Dr. Henry Pruden, passed away in August 2017.
Yeah, I remember when I used to over-trade. You bought better than I did, so I understand, you want to take the bread if necessary before someone else does. Do your charts say there is a problem coming from Uncle Sam? If not, then why let that bit of worry, intended for the rank amateurs, bias your position? I'm currently up about 7% and holding for 20% at the PnF target of 33.25 (average of the stepping-stone targets 32 min and 34.50 max). As I've plotted and posted earlier the average stepping stone and base count objectives are in agreement. By the way, the max target of the base count is 36. BAC is such a classic chart, I have to believe in it, and hold until a change of behavior occurs. Weekly: Daily: (showing ideally that the target area should be reached in February sometime)
Im still getting use to this "winning" thing... maybe a little trigger happy I think youre right, i backed it off to my entry point
Also a lil distracted by MGM... and this one Just broke range today... i get a $70 target on this one 0.5x3
This is a timely must-watch for Wyckovians. Some basic knowledge of Wyckoff principals and methods are a pre-requisite to get the most from this presentation
Here's some Point and Figure work on WWE; one that Jrich is watching or owns. This is using the Highs and Lows for the source data, a 50-cent box, and a 3-box reversal.
I believe AMD is in Phase C of a re-accumulation trading range. Daily Vertical Chart: The $0.50-box by 3-box-reversal figure chart shows that the stepping-stone range will confirm the base count after some more up and then a small retracement back into the PSY at $12.42 to print the LPS.
I believe TWTR is in Phase D. I have initiated and added with 2 buys in this phase; one at 22.275 and another at 24.25 for an average cost of 23.2625. Last week, after a few weeks of absorption, it held above the UT price of 25.25 where massive supply previously came into the market. Excerpts from "Anatomy of a Trading Range" by Jim Forte: [Phase D is characterized by] a consistent dominance of demand over supply as evidenced by a pattern of advances (SOSs) on widening spreads and increasing volume, and reactions (LPSs) on smaller spreads and diminished volumes... ...The aim is to initiate a position or add to the position as the stock is about to leave the trading range. In Phase D, the mark-up phase blossoms as professionals begin to move up the stock. It is here that our best opportunities to add to our position exist, before the stock leaves the TR. Weekly Vertical Chart:
BAC is approaching its conservative P&F target of 33.25 in a matter of weeks, which is 6.6% higher from here. Other P&F projections indicate targets of 34.50 and 36.00, 10.6% and 15.4% higher respectively. Once a change of character occurs the stock should consolidate to build cause to extend the trend or to reverse. Weekly Vertical Chart:
I've taken positions in ETSY at 16.50 and 17.90 for an average cost of 17.20. Fryday was a threatening bar but it closed well off the LOD and so far this retracement has not shown any significant supply coming into the market. The updated Point and Figure base-count objective is 30.40 (the 29.20 shown on this chart is incorrect). Once this stepping stone consolidation accumulates another four 40-cent columns of cause it will confirm the base objective. Daily Vertical Chart:
Recently took a position in SKX at 38.10. Will look to add on a pullback. The point & figure target is 75 to 88 but there is obvious resistance at 49.28 that will likely take some work to break thru. Weekly Vertical Chart:
