Hey OnePoint. Dunno what happened to post I previously made for you to read .... but it's refreshing to see another trader using the teachings of Wyckoff. If you got a second, I keep a thread going over at HotStockMarkets in the trade journal section and would love to have your participation. You really know your stuff. My name on there is the same as on here. Let's go SKUL!
Wow...someone that knows of Richard Wyckoff! I'll never forget the day I stumbled upon the 3 principals: Supply & Demand, Cause & Effect, Effort vs. Result. I couldn't get enough and as i began to understand what they meant the lights came on.
I scanned the first and last pages of your blog and liked what I saw. However I'm really tied up until next Tuesday, like day and night and weekends, with work projects coming due.....can't wait til the day I decide to do what I love full time, trade. So please have patience...I will be there.
In the long-term picture we had a selling climax and then a 7-month trading range but there was still supply (a downtrend) In the background so demand had to prove Itself to turn this bullish. Last Friday demand proved Itself. That was a major change because whereas before It did not need higher volumes to go lower NOW It doesn't need higher volumes to move higher. So we can get over the SOS high on comparatively lighter daily volume and hold It...It still needs to build cause but It's not dropping way back....because It now has demand In the background.