THE WYCKOFF METHOD: A COMPLETE GUIDE FOR TRADERS AND INVESTORS
When talking about market trading, it is impossible to avoid mentioning Richard Wyckoff, a trading legend and the creator of the Wyckoff Method. His ideas about market movements and trading principles are considered to be among the most effective and time-tested.
WHAT IS THE RSI INDICATOR: A COMPLETE GUIDE FOR TRADERS AND INVESTORS
The RSI (Relative Strength Index) indicator is one of the most popular indicators in the world of trading. It was developed by J. Wilder in 1978 and since then it has been the main tool for traders working in various financial markets
Structure
Just as determining the direction of an asset requires an understanding of the structure, so determining the structure requires correctly finding the lows and highs. What is a swing high/low? A swing high is a candlestick pattern that consists of three candlesticks: the center candle is the highest high, the adjacent candles have lower highs. The closing of the third candle should be below the opening level of the second candle. Swing low is a candlestick pattern that consists of three candlesticks, the center candlestick is the lowest low, the adjacent candlesticks have lows above it
Daily, weekly, monthly, yearly open.
Openings are used as implied levels. It should not be confused with support and resistance levels, although they can act as such. To determine this, it is necessary to mark the level corresponding to the opening level of the candle (see Candlestick Construction).
Fibonacci.
Fibonacci is a tool that acts as a magnet for price. It is used more often to determine the potential of a correction, and to set goals after it ends. This tool is very flexible as it is customizable and most traders use it in a peculiar way. This article will contain information that has been verified by personal practice.
Wyckoff.
In this article we will look at a simplified version of Weikoff. They are completely based on the diagrams you saw in the last tutorial, but many people get confused because of the large number of phases and designations. I will attach the original version and then the simpler version.
The Law of Force
This is one confirmation of your trade, which is to count candles in momentum from your Poi.