Topic: Stop giving your cheap btc to whales thanks to Wyckoff ! - page 3. (Read 7248 times)
This thread should be in purple with a sticker. Lots of good info to gather from here, not saying the op is 100% accurate but some good reads on this thread that most traders should read.
Great post, one which needs to be appreciated.
You have done everything to make a newbie understand how not to trade.
Hats off to you, OP.
You have done everything to make a newbie understand how not to trade.
Hats off to you, OP.
My guess is we wont reach 1000 dollars before a dump. Its well known that 1k is the target for alot of people to sell their bitcoins and whoever is doing the pump is well aware of this.
Incredibly vague prediction. Define "dump".
Slightly vague i know, we've already had a few mini dumps but what i mean buy dump is a proper dump down to the price it has been stable at for the past year give or take a few quid. Im hopeful that we can stabalise higher than what we've been at but not confident we will.
Hopefully the dump wont bring bitcoin to its knees.
You can see the target in my one of my post from the first accumulation phase that result in an advance to the 1000 zone, so it's not speculating on figure it's applying wyckoff method (which in this case was done by a newbie, a real wyckoff trader would probably be more accurate).
I wouldn't be surprise that the re-accumulation phase we went through would confirm this target if studied (I may do it). That's the word here, re-accumulation phases in which what you may call 'dump' could occur with the different tests events, the selling climax, lps event etc.
Excellent opening post, thanks for sharing that.
Thank you! 
Excellent opening post, thanks for sharing that.
My guess is we wont reach 1000 dollars before a dump. Its well known that 1k is the target for alot of people to sell their bitcoins and whoever is doing the pump is well aware of this.
Incredibly vague prediction. Define "dump".
Slightly vague i know, we've already had a few mini dumps but what i mean buy dump is a proper dump down to the price it has been stable at for the past year give or take a few quid. Im hopeful that we can stabalise higher than what we've been at but not confident we will.
Hopefully the dump wont bring bitcoin to its knees.
My guess is we wont reach 1000 dollars before a dump. Its well known that 1k is the target for alot of people to sell their bitcoins and whoever is doing the pump is well aware of this.
Incredibly vague prediction. Define "dump".
My guess is we wont reach 1000 dollars before a dump. Its well known that 1k is the target for alot of people to sell their bitcoins and whoever is doing the pump is well aware of this.
Right now there is definitely a huge pump in the price of BTC. There is definitely going to be also a shortage in the BTC that people are willing to dump on the market very soon.
So yeah, hold your bitcoins and you'll profit a shit ton from it.
So yeah, hold your bitcoins and you'll profit a shit ton from it.
Target around 1000$, maybe if someone determine that we just when through a re-accumulation phase and use it to determine target price, it'll give us a more precise one and confirm the prior range.
Right now there is definitely a huge pump in the price of BTC. There is definitely going to be also a shortage in the BTC that people are willing to dump on the market very soon.
So yeah, hold your bitcoins and you'll profit a shit ton from it.
So yeah, hold your bitcoins and you'll profit a shit ton from it.
Based on his years of observations of the market activities of large operators, Wyckoff taught that:
The Composite Man carefully plans, executes, and concludes his campaigns.
The Composite Man attracts the public to buy a stock in which he has already accumulated a sizeable line of shares by making many transactions involving a large number of shares, in effect advertising his stock by creating the appearance of a “broad market.”
One must study individual stock charts with the purpose of judging the behavior of the stock and the motives of those large operators who dominate it.
With study and practice, one can acquire the ability to interpret the motives behind the action that a chart portrays. Wyckoff and his associates believed that if one could understand the market behavior of the Composite Man, one could identify many trading and investment opportunities early enough to profit from them.
This reminded me of at least 2 things from that classic trader book... what's it called again... ah, yeah: Reminiscences of a stock operator:
- a story about a couple of guys selling "stock manipulation services" to company owners who wanted their share price up and a market made
- the expression it's all in the tape
aye exactly the point ! it is all in the tape. Some today trader's using wyckoff patterns spoke about the new generation spending time on internet to find the why in a market fluctuation, when only the tape matters and already gived sign of the answer before the question appeared!!
Based on his years of observations of the market activities of large operators, Wyckoff taught that:
The Composite Man carefully plans, executes, and concludes his campaigns.
The Composite Man attracts the public to buy a stock in which he has already accumulated a sizeable line of shares by making many transactions involving a large number of shares, in effect advertising his stock by creating the appearance of a “broad market.”
One must study individual stock charts with the purpose of judging the behavior of the stock and the motives of those large operators who dominate it.
With study and practice, one can acquire the ability to interpret the motives behind the action that a chart portrays. Wyckoff and his associates believed that if one could understand the market behavior of the Composite Man, one could identify many trading and investment opportunities early enough to profit from them.
This reminded me of at least 2 things from that classic trader book... what's it called again... ah, yeah: Reminiscences of a stock operator:
- a story about a couple of guys selling "stock manipulation services" to company owners who wanted their share price up and a market made
- the expression it's all in the tape
very interesting explanations, sandiman. Thanks a lot.
I'm having a hard time imagining what the structure of the "Composite Man" (it's not one guy, right?) might look like and how much BTC he now might have...
I'm having a hard time imagining what the structure of the "Composite Man" (it's not one guy, right?) might look like and how much BTC he now might have...
The Composite Man is an equivalent of what is called here a whale. I like to image it as a bunch of strong entities representing the underlying force in a market. You could also think that since human tends to have the same thinking we could be all together the Composite Man.
below a quote from stock chart for more info (http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method):
Wyckoff proposed a heuristic device to help understand price movements in individual stocks and the market as a whole: the Composite Man.
“…all the fluctuations in the market and in all the various stocks should be studied as if they were the result of one man’s operations. Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to your disadvantage if you do not understand the game as he plays it; and to your great profit if you do understand it.”
He advised retail traders to try to understand and play the market game as the Composite Man played it. In fact, he said that it doesn’t even matter if market “moves are real or artificial; that is, the result of actual buying and selling by the public and bona fide investors or artificial buying and selling by larger operators.” (Wyckoff RD (1937). The Richard D. Wyckoff Method of Trading and Investing in Stocks Wyckoff Associates; New York; Section 9M, p. 2)
Based on his years of observations of the market activities of large operators, Wyckoff taught that:
The Composite Man carefully plans, executes, and concludes his campaigns.
The Composite Man attracts the public to buy a stock in which he has already accumulated a sizeable line of shares by making many transactions involving a large number of shares, in effect advertising his stock by creating the appearance of a “broad market.”
One must study individual stock charts with the purpose of judging the behavior of the stock and the motives of those large operators who dominate it.
With study and practice, one can acquire the ability to interpret the motives behind the action that a chart portrays. Wyckoff and his associates believed that if one could understand the market behavior of the Composite Man, one could identify many trading and investment opportunities early enough to profit from them.
very interesting explanations, sandiman. Thanks a lot.
I'm having a hard time imagining what the structure of the "Composite Man" (it's not one guy, right?) might look like and how much BTC he now might have...
I'm having a hard time imagining what the structure of the "Composite Man" (it's not one guy, right?) might look like and how much BTC he now might have...
always working ?
Except if the composite man is a fool !!
always working ?
Price objective for the accumulation pattern highlighted in the first post in between 910 (for the most risk aversive) and 1044 (for the less risk aversive).
PS: this is just price objective regarding the accumulation pattern, and it should be carefully revisited as price fluctuate.
Great thread, Sandiman.
You've a new friend and follower here
What I extremely like in your post is, the trend is upwards, even with correction, there is no downtrend.
Thanks for your great post and illustration
You've a new friend and follower here
What I extremely like in your post is, the trend is upwards, even with correction, there is no downtrend.
Thanks for your great post and illustration
Very new to this so i'll try to test some strategies and see what happens. Downtrend could be anticipated if you can start seeing a distribution phase on the chart, which looks the accumulation phases but reversed
This was honestly a bullshit post. You tried to claim there's been no corrections since the rise started. There has already been two large corrections, but up it goes still.
I have never say that, look at the picture at the end r0ach! Now one should try and figure out if we will enter a new TR or just go through a simple correction (btw, if you put your chart at 1D timeframe, it is hard to see a correction. I would more call that a consolidation.
wow, finally we can see some valuable analysis in this board. i am sick and tired of seeing topics about price going to x and y with zero reasoning behind it.
oh and thanks for the link, it was a long read but it was worth it.
oh and thanks for the link, it was a long read but it was worth it.
Totally agree on that. one of the golden father of trading.
wow, finally we can see some valuable analysis in this board. i am sick and tired of seeing topics about price going to x and y with zero reasoning behind it.
oh and thanks for the link, it was a long read but it was worth it.
oh and thanks for the link, it was a long read but it was worth it.
This was honestly a bullshit post. You tried to claim there's been no corrections since the rise started. There has already been two large corrections, but up it goes still.
Great thread, Sandiman.
You've a new friend and follower here
What I extremely like in your post is, the trend is upwards, even with correction, there is no downtrend.
Thanks for your great post and illustration
You've a new friend and follower here
What I extremely like in your post is, the trend is upwards, even with correction, there is no downtrend.
Thanks for your great post and illustration
Jump to: