What is the Wyckoff strategy, and is it for you. The short answer is , yes, I believe this strategy has something to offer every trader. I do think that you can also benefit from other tools, like those found at oMoDalton.com, the DMI/ADX/Key level, the MACD and all sorts of Fibonacci tools, but Wyckoff is a little different and that uniqueness makes it valuable, and here's why.
The Wyckoff is named after a man named Richard Demille Wyckoff, you can find an article outlining who he is and an in-depth study of his method here. Mr. Wyckoff did many amazing things, one of which was finding a method of determining when the bulls and bears were shaking hands. What I mean by that is he noticed a very distinct pattern or happening that occurred in the market when the charts where about to change directions. He came up with all types of interesting ideas like the composite man and so on..., but you don't need to know that. All you need to be able to do is notice the pattern, much like many other methods of trading in Forex.
One of the unique features of this method is that no timeframe is immune to it. It shows up on every time frame and has a very high probability of coming to fruition once it starts.
Here is what it looks like in a nutshell.
There are many ways to implement the Wyckoff method, but here is a brief description of my favorite.
Go to the larger chart, I will suggest the one hour. Wait for the one hour chart to go into a Wyckoff movement. Then wait for the fullness of the movement to occur (this takes patience). Once the chart shows its hand on the one hour, go to the 5 minute chart and look for a smaller Wyckoff movement on the 5 minute. Remember that the charts are fractal. Use the Fibonacci tool to confirm the movement, set your risk, and then set TP And SL.
I recommend going and reading the articles for yourself to learn how to integrate the Wyckoff method into your own trading strategy. If you need help with understanding the Wyckoff strategy you can always go to oMoDalton.com and click on the schedule appointment tab to have a private training session with me. There we can go over your strengths and weaknesses, and decide what is the best way to integrate the knowledge you have gained.
Keep in mind that I have a particular skill in not only teaching Forex strategies, but also in helping you analyze and tweak your strategy to get you into the positive pips. So go over to oMoDalton.com and set an appointment to meet with me.
In my experience, anyone that has the right determination can succeed in Forex.
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