Book Review.

Book by veteran  Wyckoffian analyst and Trader, David Weiss, “Trades About To Happen” gets the thumbs up from me personally. David Weis has simplified the Wyckoff approach to a level where most students may understand it’s practical application. Thank you David. 

At the cost, which can be purchased, it may offer an excellent value for one. A cheap and effective way of stepping into the method. One may pay big $ for TA course/courses and yet, may not learn more than what David offers in his book.

As for PnF, Renko and Wave Charts mentioned in the book, my suggestion would be as follows :

What is a Wyckoff Wave Chart ?  A line chart, which is superimposed on a bar chart aiding the analyst/trader determining the medium term trend. It is no other than Dow Theory 2nd TF ( intermediate term trend definition). One can draw this on their bar charts if they wish. Is there a better way than this to learn ?

PnF Charting : If Interested, book by Jeremy du Plessis CMT ” The Definitive Guide To Point and Figure” would be my recommendation. RDW used 1 box  pnf charts to aid him with identifying the trading ranges being distribution or accumulation. Not so , for target calculations. But both are fine.

Renko Charting : Never studied it, and I can’t comment. I don’t intend to study it either.

As for the ACUUMULATION/DISTRIBUTION LABELLING, does it matter ? No, not at all IMHO.What matters is, reading each individual bar/candle and determining who (Bulls or Bears) is in control and their commitment. This involves understanding the structure of each individual bar/candle and effort (volume)  behind it. Also, being able to identify those SOS ( Sign of Strength) and SOW ( Sign of Weakness) bars as they unfold. Lets not forget SUPPORT and RESISTANCE. 

There are other aspects of  the Wyckoff  Method as well off course, but I will leave that to an interested reader to discover.

Happy reading.

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