The volume price analysis was
developed by Wyckoff in the early 1900s through interviews & studying all
successful traders of that time including EH Harriman, James R Keene, Otta Kahn,
JP Morgan, legendary Jesse Livermore, the pioneer of day trading who developed
and mastered the art of tape reading and made a huge fortune. The volume price
analysis was further researched by Tom Williams in the 1960s and 1970s.
Have you wondered how all these investors & traders have earned huge
fortunes?
Have you ever wondered why only your stop-loss is taken out before the market
takes the big leap?
The candlestick volume is closely
related to the activities of professionals and market makers. This book, ”A
Complete Course to Volume Price Analysis", written by a trader and
computer programmer will equip readers with the knowledge to predict future
activities of professional traders in the market.
Is the theory developed in the 1900s and mid of last century still valid
in the era of rapid computerization and algo trading? Can computers add value
and assist to the research done by Wyckoff and Tom Williams?
"A Complete Course to
Volume Price Analysis" provides a good starting point for readers in
trading and investment analysis. It not only covers important topics like
Wyckoff theory, floating volume analysis, bar by bar reading of chart and lays
a solid foundation for a serious trader like you but also provides simple tradingview
pinescripts for identification of patterns on a chart.
After reading this book, you'll be
able to analyze market structures and can make informed trade decisions. You
will get benefited from reading the book and by applying skills gained to the
real market. As per Wyckoff's Theory, few market makers manipulate the market
and move the market in such a way that most of the retailers lose their bet. In
VPA, analysis we combine Wyckoff's theory and volume price analysis to align
our trade with trades of market makers. This is thus another art of trading
along with momentum and not a tool to identify the position of exact high or
low.
Following are the major type of bars
that we will attempt to identify objectively so that there is no ambiguity in
their identification:
1. Bar indicating no demand by retailers (sold in anticipation of price fall).
2. Bar indicating no supply by retailers (holding and expecting price rise).
3. Buying climax, the bar marking an end of up-trend and beginning of the distribution of stocks by market makers.
4. Effort to move-up : Effort by market makers to rise scrip prices
5. Effort to move-down: Effort by market makers to reduce or drop scrip prices
6. Move-up failed: A previous attempt by market makers to rise price up failed
7. Move-down failed: A previous attempt by market makers to move the price down failed
8. Stopping volume: Attempt by market makers to stop fall in price and bring strength to market
9. Market testing Bar: Testing strength of previously established supply or demand zone.
10. Upthrust Bar: An attempt to trap buyers at high prices.
Learn more on volume price analysis and other technical fundamentals through the Book "A Complete Course to Volume Price Analysis- Read the market Bar by Bar" by Achal. Pinescript codes for identification of bars also available in book to assist you during your learning.
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| 130 pages book |
