Trades About to Happen: A Modern Adaptation of the Wyckoff Method
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, withTrades 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 progressConsidering the meaning of the close within the range of a price barLooking for shortening of upward or downward thrust as well as follow-through, or lack of follow- through, after penetrations of support resistanceExploring the interaction of price with trend lines, channels, and support/resistance lines—which often highlight the price/volume storyWatching for tests of high-volume or "vertical" areas where price accelerates upward or downwardAnd much moreAlong the way, Weis introduces the adaptations he has made to Wyckoff's original tape-reading tools—which are better suited for the enormous volatility of today's stock and futures markets—and can be applied to intraday and daily price movement.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 Happenwill 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.