Trades About to Happen
A Modern Adaptation of the Wyckoff MethodBook - 2013
The definitive book on adapting the classic work of Richard Wyckoff to today's markets
Price and volume analysis is one of the most effective approaches to market analysis. It was pioneered by Richard Wyckoff, who worked on Wall Street during the golden age of technical analysis. In Trades About to Happen, veteran trader David Weis explains how to utilize the principles behind Wyckoff's work and make effective trades with this method.
Page by page, Weis clearly demonstrates how to construct intraday wave charts similar to Wyckoff's originals, draw support/resistance lines, interpret the struggle for dominance in trading ranges, and recognize action signals at turning points.
- Analyzes markets one bar chart at a time, which recreates the ambiguity of actual trading
- Emphasizes reading price/volume charts without a secondary reliance on mathematical indicators
- Includes a short study guide in the appendix to help readers master the material
Filled with in-depth insights and practical advice, Trades About to Happen promises to be the definitive work on utilizing Wyckoff's classic methods in today's turbulent 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 &How-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 fin- tests of high-volume or "vertical" areas where price accelerates upward or downward
Along 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.