Trades About To Happens : A Modern Adaptation Of The Wyckoff Method
by David H. Weis and Alexander Elder
While Richard Wyckoff's search to develop a "trained judgment" for
trading began decades ago, his method which has been modified to account
for changes in market conditions, but remains true to his original
work - continues to draw great interest from traders around the world.
Author David Weis is a trader and market analyst with nearly forty years
of experience in this field. A recognized authority on the trading
methods of Richard Wyckoff, he understands how to utilize the principles
behind Wyckoff's work and make effective trades with them. And now,
with Trades About to Happen, he skillfully reveals how to adapt
Wyckoff's techniques to excel in today's volatile markets.
Engaging and accessible, this reliable resource looks at Wyckoff's
approach from a more modern perspective and shows how you can logically
interpret bar charts and wave charts to find trades about to happen. By
studying the chart examples in this book, you'll gain tremendous insight
into reading what markets are saying about themselves and develop the
ability to locate turning points of different degrees. Page by page,
Weis facilitates your learning by:
- Comparing efforts of buying or selling with the reward - volume versus upward or downward progress
- Considering the meaning of the close within the range of a price bar
- Looking for shortening of upward or downward thrust as well as follow-through, or lack of follow- through, after penetrations of support resistance
- Exploring the interaction of price with trend lines, channels, and support/resistance lines—which often highlight the price/volume story
- Watching for tests of high-volume or "vertical" areas where price accelerates upward or downward
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And much more
When it comes to Wyckoff analysis, it's easy to forget that the world of chart reading is not black or white, but gray. One has to have an open mind rather than a fixed, pre-conceived ideal. Trades About to Happen will help you achieve this goal as you discover how to develop the feel and intuition of a successful trader and become better equipped at adapting the Wyckoff method to today's dynamic markets.
