Wyckoff Analysis Series. Module 2. Wyckoff Candle Volume Analysis – Todd Krueger
This trading course begins where we left off in the Wyckoff Series Analysis – Module 1; Wyckoff Volume Analysis trading course. It is imperative that you have a thorough working understanding of the methods and concepts presented in Module 1 before you begin this course.
In this session you learn how to apply Wyckoff’s analysis techniques to candlestick chart patterns. In this advanced course we learn how to add the 4th dimension of the price bar, the opening price, to create Wyckoff Candle Volume Analysis (WCVA) reversal patterns. This technique allows us an even greater view of the intentions of the smart money. You will then learn how to apply a 5 dimensional view (4 price dimensions combined with the volume of the candle) of the markets on your charts to expose the true sentiment and trading positions of the smart money. This bridges the vital gap created from Wyckoff’s work of analysis using only the high, low and close of each bar, and the common use of candlestick patterns without applying Wyckoff Volume Analysis. By including the open and then the candle pattern into the overall analysis technique, the intentions of the smart money are incrementally clearer to the WCVA analyst, there is no other methodology in existence which more clearly and easily unveils the intentions of those that are in control of the market being analyzed.
It is important to understand that this methodology analyzes 5 completely independent variables to effectively track, monitor and qualify the supply and demand imbalances that appear on a price chart. This is the very reason why the smart money can’t hide their footprints from the WCVA trader; because each variable that we analyze is independent from the others, we can effectively monitor their trading activity and take advantage of the profitable trading opportunities that they create for themselves. No retail tools available to the public can do what WCVA allows you to do.
Let’s look at a common tool that many retail traders use called the stochastic (we could also replace with the MACD, RSI, etc). First off, this is a tool that fits in the oscillator category and oscillators suffer from very critical, inherent weaknesses. First, and most important, is that oscillators are dependent variables of price so, in a nutshell, the stochastic is measuring/smoothing/averaging past price data in order to try and predict future price moves. Whenever we use past price data and average or smooth it over time, we are introducing time lag into our analysis. There are attempts made from various formulas to remove the lag but it can never be removed completely so a retail trader using an oscillator is going to be late to enter their trade, this is virtually guaranteed. Secondly, retail traders using oscillators are going to over-trade as the oscillator series of indicators produce many false signals. Overtrading is one of the top causes of retail traders blowing out their accounts and must be avoided at all costs. The conundrum occurs when the trader using these retail trading tools expects to become a profitable trader, it is nearly impossible because of the built-in weaknesses of the trading tools being used; but most traders will unfortunately never figure this out. It is the very tools that they are using which create the environment to become, and stay, a losing trader! To further compound this dilemma, most losing traders then begin the internal blame game which creates negative self thoughts, undue stress and internal self-conflict.
Let’s look at the difference that can be achieved by a trader switching to professional level trading tools instead of the canned indicators available in the common trading software packages that are widely available to the public. First, WCVA provides a methodology that has 5 completely independent variables (open, high, low, close and volume); this process removes the analysis redundancy found in typical formula based indicators. Secondly, WCVA is a zero-lag methodology; the results of the analysis appear on the last bar on the right edge of the chart. This completely removes the inherent lag that is present in virtually all of the common trading tools available to the retail trader. You will now be able to enter the trade at the optimum price instead of entering the trade late and being forced to chase the price movement to enter your trade. Also, in Module 2, you will receive clear guidelines for stop loss placement to ensure proper trade risk management of your trades. Thirdly, by utilizing WCVA (especially when used in conjunction with the Foundational Chart Analysis Series Home Study Course – “Support/Resistance Techniques of Professional Traders”) you will instill in yourself, and your trading account, the importance of waiting for a true, tradable market opportunity. This fact is critical as it removes one of the biggest obstacles to success that the retail trader faces; over-trading, this is the primary enemy of all traders as it depletes your account through trading losses and excessive commissions. Here is the elegance of the methodology; we have a zero-lag methodology which eliminates the tendency to over-trade, greatly reduces the internal stresses of trading and works to promote the positive inner-psychology tendencies of successful traders that all retail traders read about but have great difficulty grasping (clear entry/exit strategies, avoid over-trading, reduce/eliminate trading stress, instill patience in waiting for the trade to come to you, eliminate gambling tendencies and trade with no emotions).
Upon completion, you will be able to identify and trade the 3 key WCVA reversal patterns covered in this home study course. These patterns reveal both long and short trades in any timeframe and market, regardless of market conditions; so it works for any trader from a scalper to a position trader in any contract.
Here is a breakdown of what you will learn from this 2 DVD Home Study Course:
- How to use multiple timeframes in harmony with the major trend
• How to use longer term charts to reduce the noise level in a chart
• See how Wyckoff Candle Volume patterns produce readable market tells
• How to use longer term charts to set up the directional bias for the day trader
• Identify WCVA patterns that produce support/resistance levels
• How to use WCVA charts in the FOREX market
• How to scientifically break multiple timeframes down to confirm supply/demand
This methodology is a cutting edge, 21st century professional level tool that is derived from two, 100+ year old tested and proven trading approaches. By combining Wyckoff Volume Analysis with candlestick patterns the first breakthrough trading methodology of the 21st century is born. Because this methodology was invented by Todd Krueger, Traders Code is your exclusive source for WCVA knowledge. This is the first home study course devoted to the Wyckoff Candle Volume Analysis methodology.
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