|
PureBytes Links
Trading Reference Links
|
Harold
So how does Wycoff do his hori count...in calculations does he
follow the same method as standard way....??
what is the actual mathematics...???
regards
anil
--- In Metastockusers@xxxx, "hcour" <hcourtney@xxxx> wrote:
> Anil,
> >>Horizontal count depends on the base/top formation. For price
> objective one must locate the lines with 'most recordings (lines
with
> least no unoccupied) where count may be taken... <<
>
> Not sure I understand you. Maybe Yes and No. Wyckoff is indeed the
> bottom/top base formation that provides the ultimate cause for the
> subsequent move, but it's not about the lines least occupied.
Rather,
> this base, as I've pointed out, should have several definitive
> characteristics which should be evident on the daily price/volume
> chart first: A PS, a SC, a AR, ST. This defines a Wyckoff Trading
> Range (TR). One then uses these points as the beginning and end of
> the move on both the daily and PnF, since they are the most
crucial
> of a TR; that is, the most important support and resistance, no
> matter what technique you are using. According to Wyckoff, it only
> makes sense to use those areas that prove themselves to be
relevant
> s/r. The important thing is that price is able to build a cause
for
> the next move. This takes time. Wyckoff uses blank spaces
frequently
> when counting across, as long as the end of the count goes back to
a
> relevant point in the range. This combines both bar chart analysis
> and PnF analysis, since they are both dependent upon the SC and
the
> ultimate test of that SC, which is what proves whether it's supply
or
> demand that is in control.
>
> Yes, I could have taken the count at 36, but I chose a more
> conservative measurement, as that is my style. When it comes down
to
> it, what's important to me is that a cause has been created, and I
> look for that cause on the PnF to somehow sync w/that of the daily
> horizontal s/r. When they are in harmony, I know I've found
something
> real.
>
> Harold
To unsubscribe from this group, send an email to:
Metastockusers-unsubscribe@xxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|