Gary_Fullett joined. ian joined. Gary_Fullett good evening Ory Hi Gary joe_s hey gary Anna Hi Gary hawk joined. Gary_Fullett how is everyone tonyw joined. RB fine, you? joe_s good BT okay ,, Ory Awesome,,,,,,,,,,,and yourself Anna just Ok RB On my way to Chi town Gary_Fullett cool rb Gary_Fullett it will eb 90 tomorw Gary_Fullett bring ice . ::smile RB Lots of humidity? Ory same here RB Its already melted, it was 104 here today- Kansas Ory dew points are way up Gary_Fullett probaly Gary_Fullett we get humidty here due to the lake RB I'll bet Ory im off the eastern coast Ory bermuda high rolling in Brian_O joined. Gary_Fullett did u all get charts any questions? Gary_Fullett give me a few min please RB yes, no ? yet Ory looked at sugar for the evening Gary_Fullett sorrry be rght there wyatt joined. Gary_Fullett ok Gary_Fullett sorry Gary_Fullett here we go Gary_Fullett i have a 16 yr old dog she needed to go out Gary_Fullett have to carry her down the stairs Gary_Fullett okay charts Gary_Fullett any q? Gary_Fullett on any thng Ory i,m good Gary_Fullett okay lets begin Gary_Fullett es Gary_Fullett mini s and p Gary_Fullett what do u see Gary_Fullett i drew this small channel Gary_Fullett ti illustrate the slightly higher highs Ory a mini up trend in a d trend Gary_Fullett to show the narrow ness of the up trend of these sot shortenong of the thurst bars Gary_Fullett whats interesting is that the markt rallied Gary_Fullett on lighter volume Ory the grind up Anna Is suppy removed from below? Gary_Fullett which supply are u referrirg to? Gary_Fullett i hav etold u u dont need volume to rally in an up trend from the lwos Gary_Fullett which supply anna Anna Im looking to sell is all Gary sorry.. ::wink Ory i think because its a d trend Gary_Fullett ok Gary_Fullett so u can se these small ranges Gary_Fullett i will get there anna Gary_Fullett but the closes are high end Gary_Fullett this high end closes means buyers winnijg but also a sot Gary_Fullett shortening of the thrust Gary_Fullett anna Gary_Fullett question is interesting Anna shure doesnt look like Demand Gary_Fullett when u wnat to sell or buy Alvin joined. Gary_Fullett u shuld wait for a test and a retest Gary_Fullett not the first time Gary_Fullett because u dont know how far it cna travel Gary_Fullett so dont step in front of a train Gary_Fullett there are 2 proper sells on thsi chart Gary_Fullett 1 is more prevalanet than the other Gary_Fullett so u see them? Ory ? ? RB y, i think Anna the 22nd and 29th RB May 15, June 21 Gary_Fullett which month RB I think or within a day. I am in a car so cant tell the exact date Anna june Gary_Fullett okay thats one area annaa Gary_Fullett anna sorry Gary_Fullett and the other the most important one Brian_O mid May at reaction high and June 22ndish Gary_Fullett draw a line across the lows at 175 area Gary_Fullett on the left side of the chart Gary_Fullett see that? Brian_O ice Anna yes Brian_O mid May retest Gary_Fullett right briasn Gary_Fullett why there? Brian_O retest broken ice on lower vol Brian_O a little higher vol on retest bar w/ lower close indicating possible selling Gary_Fullett right Gary_Fullett n a retst of broken ice rich left. Gary_Fullett u want to sell if u get there on lihgter volume Gary_Fullett and small price range Gary_Fullett this indicates Gary_Fullett a lack of demand at resistance Gary_Fullett so a sell Gary_Fullett that to wyckoff is the mst proper sell Brian_O so which bar would you have sold on and where would you place your stop? Gary_Fullett so i see the wide bar early may Gary_Fullett may 6th Gary_Fullett the fat finger day Brian_O stop just above ice or above trading range high Gary_Fullett markest tend to counter trend 1-3 bars Gary_Fullett maybe 3-5 bars Gary_Fullett so we are looking for a day where we can sell endign action Gary_Fullett se the 5th bar Gary_Fullett was a small bar Gary_Fullett low end close? Brian_O y Brian_O danger pt pec joined. Gary_Fullett higher high Gary_Fullett low end clsoe Gary_Fullett a sot bar pec left. cajun joined. Brian_O it would probably be too much to ask that sot bar be a little more obvious :) Gary_Fullett so u can see that as apossible ending abr Gary_Fullett the 5 th day of the counter retest' tonyw May 15 and Jun 21 are appropriate sells to me Gary_Fullett agree Brian_O does it matter if the counter trend is coming off a normal uptrend reaction or a selling bar? Brian_O or downtrend in this case Gary_Fullett well that retest higher is coming after a wide bar Gary_Fullett so if this was a shakeout bar Gary_Fullett then the broken ice would have bene taken out Gary_Fullett if a shakeout resiatnc ewoud ahve been surpassed Gary_Fullett and taken ut with increased volume Gary_Fullett and price bar length Gary_Fullett u actually see the opposite Gary_Fullett u see small ranges Brian_O in which case it would have exceeded the 3-5 bar parameter you talked about Gary_Fullett and light volume maji joined. Brian_O I realize that that is not a hard and fast approach Gary_Fullett but u see the light volume and small range retest? Gary_Fullett imp Brian_O y Gary_Fullett si if the may 6th move Brian_O would your expectation be for a quick move away from that area? Gary_Fullett was nt selling it wuld have taken ut the broken ice Gary_Fullett th fact it failed at the broken iice Gary_Fullett meant a good chance thatit was elling vs a shakeout Gary_Fullett yes Gary_Fullett i woud expect the market to at lower Gary_Fullett and u got that Gary_Fullett see it? Brian_O what made June 21st obvious to you? Yes, I do see that on May 15th Gary_Fullett this rally has bene on lughter evolume Gary_Fullett more indications Gary_Fullett of short covering vs demand Gary_Fullett if demand Gary_Fullett the volume would have bene alrger Gary_Fullett been larger Ory probabaly short covering Gary_Fullett so the 1102 area-1104 next resistance Gary_Fullett the high of the rtl line wa snear today s highs Gary_Fullett any q? Gary_Fullett we have discussed this chart at length Ory i,m good Gary_Fullett gold.. Brian_O good thanx Gary_Fullett this is a very interesting chart Gary_Fullett when we draw Gary_Fullett lines Gary_Fullett sloping lines we like to draw them ideally form a 45 degree angle. Brian_O I assume you drew the countertrend/OB line first on this chart? Gary_Fullett the sloper then line or channel Gary_Fullett the less relaiable it is Gary_Fullett too large of slope Gary_Fullett u want to draw the lines that tell u a story Gary_Fullett and if the lines are too steep Gary_Fullett they dnt tell a story Brian_O I think I would have also put the horizontal lines in as well at the high and reaction low to show a trading range Gary_Fullett i will draw many charst with NO sloping lines Gary_Fullett they are not neded so greatly with wyckoff Gary_Fullett they do tell trend Gary_Fullett which is important Gary_Fullett but the horizonatl lines are the life line of wyckoff Gary_Fullett becasue they tell the demand and supply area Brian_O I really haven't used them as much outside of these class discussions but find them to be very useful Gary_Fullett u miys use them Brian_O and are using them much more often Gary_Fullett they are key and critcal Gary_Fullett so please draw them Gary_Fullett thru areas of congestions Brian_O I think I may be starting to drink the Kool Aid :)) Gary_Fullett dont ahve too Gary_Fullett I am not forcing anything Gary_Fullett if it is yoru niche tha use it Gary_Fullett if sun gives u a trade and make s money and sue it Brian_O not because of you, sorry, but they do make a lot of intuitive sense when combined w/ reading the price action and vol Gary_Fullett i know i wa sjoking' tongue in check Gary_Fullett wyckoff didnt invent anything Gary_Fullett all he did wa sobserve markest Gary_Fullett how can that be worng? Brian_O ::wink Gary_Fullett so in gold we have the strongest bull market Gary_Fullett in ocmmdities Gary_Fullett we always talk volue and price in an area Gary_Fullett see the channel Brian_O yes, and it also looks to be coiling a bit in the mid June reaction low area Brian_O not a very strong retracement of the July 1st selling bar Gary_Fullett so Brian_O looks weak Gary_Fullett lok how we left the channel Brian_O a lot of effort Brian_O w/ result Ory SOW Anna trying to hold on to june 3rd? Gary_Fullett is the vlume alrge? Gary_Fullett volume lareg on the break out of th chennel? Brian_O sorry, not trying to hog the discussion, just find this interesting Gary_Fullett anna dont think that way Gary_Fullett june 3r d wasnt endng action Gary_Fullett if u reacted well there then u cna say that statemtn Gary_Fullett because u had a reaction Gary_Fullett if a poor reacion Gary_Fullett then that low WILL be taken out Gary_Fullett understand? Anna I see Gary_Fullett that june 3rd low mens little because tew reacion is weak Gary_Fullett trying to help Brian_O you mean the reaction on after July 1st? Gary_Fullett was vlume alrge on thebreak of the chAnnel? Gary_Fullett yed brian Anna should have been more volume Gary_Fullett the july 1 volume is it large/ Gary_Fullett ? Gary_Fullett small? Gary_Fullett its very imp Anna not enough Id say. Brian_O relatively speaking it was RB For the area pretty good PiggyBack small relative to immediate bars, average compared to most vol bars on chart Brian_O highest in almost 4 weeks Gary_Fullett so RB wHAT DOES THAT TELL U? mbflint left. Gary_Fullett the VOLUME is 2 times about the the previous few previosu bars tonyw supply came in Gary_Fullett volume si relative to an ara Gary_Fullett this volume wa s large RB This is an important bar- selling bar Gary_Fullett compare it to the previous vlume RB or supply bar Gary_Fullett so to the area the volume wa slarger and tok out support Gary_Fullett this may be the sow Gary_Fullett sihn of wweakness Gary_Fullett sign Gary_Fullett so its high compred to the area Gary_Fullett but let say u didnt see this as supply Gary_Fullett after tis bar happned Gary_Fullett what did th market do?? Gary_Fullett after teh july 1 dy PiggyBack retrace w/ weak closes Brian_O any significance to this weak reaction in relation to the mid June reaction low? PiggyBack and cluster of closes Brian_O in your opinion Gary_Fullett yes it broke the channel and is lower than june Brian_O I'm sorry, the mid May low RB Building cause for a move, most likely lower base on lack of demand Chuck On the continuous contrac the volume of the break is about the same as the surrounding bars. Does that have any bearing on the August contract? Gary_Fullett the action is weaker now brian Gary_Fullett yes rb Brian_O got you Gary_Fullett good eyes check Gary_Fullett no i dot think so Chuck ok RB lack of demand shown by lower volume after breaking down Gary_Fullett after selling Brian_O so where would the trade be here? On a retest of the July selling bar? Gary_Fullett right rb Gary_Fullett its the reaction abck up RB buyers did not come in to show any demand Brian_O assuming it continues down, that is Gary_Fullett the trade is to sell a retet of the lower channel Gary_Fullett ideally Gary_Fullett when u break support Brian_O whenever that may occur? Gary_Fullett u want to sell a retest of it Gary_Fullett u may nnot get there Gary_Fullett so sell a wek bar Gary_Fullett weak Brian_O OK that's what I was looking for. Ideally, a retest of the broken channel but minimally a retestof a weak bar Ory the next bar after the weak bar Gary_Fullett u were higher today in gold Brian_O based on your experience, what would your expectation be based on the price action? Gary_Fullett lower Brian_O I'm not planning to trade this btw Gary_Fullett 10 maybe 1100 cajun left. Gary_Fullett but it is also the largets bull run in comoties Gary_Fullett commodties Brian_O Wow, that's a pretty signigicant move, maybe I will trade this :)) Gary_Fullett so caution is required Gary_Fullett but u cna see that after supply Gary_Fullett or good selling Gary_Fullett the poor reaction back Gary_Fullett those 6 bars or so Gary_Fullett of slideways Gary_Fullett clustered closes Gary_Fullett understand? Gary_Fullett why weak? Anna came from weakness Gary_Fullett yes Gary_Fullett good eyes Gary_Fullett any q? Brian_O lower vol rally attempt w/ some low end closes Gary_Fullett corre ct Gary_Fullett god u r seeing this Gary_Fullett good Gary_Fullett any q? Gary_Fullett i htink u cna see the weak reaction Gary_Fullett and the pssible sell rich joined. Gary_Fullett good Gary_Fullett u can see th action clealy Gary_Fullett cattle Gary_Fullett what do u see here Gary_Fullett any trade set up Ory sow and back-up Gary_Fullett where? Ory breaking ice Chuck look for weakness at the ice (as you point out on the chart) Gary_Fullett yes ory Gary_Fullett I am going slwor so u can see it and digest it Gary_Fullett correct check Ory Thxs Gary tonyw Sell an upthrust at the broken ice area Gary_Fullett doesnt have to be an upthrust Gary_Fullett but a retest is fine Ory great Gary_Fullett good eyes Gary_Fullett quiz Gary_Fullett boeing Gary_Fullett first page what syands out to y on this chart line wise cutworm joined. tonyw May 6th high volume down bar and the weak rally after this cutworm left. Gary_Fullett correct Brian_O broken ice and retest has failed and moved back above ice indicating a possible shakeout on May 6th Gary_Fullett but the whole amrketw a sthat way Gary_Fullett the market is ABOVE that high Gary_Fullett see it Brian_O more important that it is above the May 6th bar or the ice? Brian_O or both? Brian_O low vol either way Brian_O on the reaction Gary_Fullett well we will see Gary_Fullett go to page 2 Gary_Fullett i drew the horizonata lines Brian_O would you consider the trading range to still be in play since it was only out of it for 2 days Gary_Fullett does ths change yoru idea? dz joined. Gary_Fullett the market broke ice Gary_Fullett and now above it? Gary_Fullett at 7200 Gary_Fullett see this Gary_Fullett so a retest if ice is a buy? Gary_Fullett what can u tell em about the volume Gary_Fullett and the bar length Gary_Fullett last 6 bars or so Ory tough quiz Brian_O yes it does, I was mistakenly seeing ice lower than that Gary_Fullett it should be drawn the way it si Gary_Fullett because it si thru a sot bar Anna always look for spring or UT at support and Resistance Brian_O decreasing bar length and vol Gary_Fullett good anna Gary_Fullett great eyes brian Gary_Fullett read what brian wrote Ory here here Brian Gary_Fullett u have Gary_Fullett the last 4 bars on decreasing volujme Brian_O I should probably quit here but ..... I won't :) Gary_Fullett and the bar length is small Gary_Fullett dot stop till u get 1 wrong l;ol Gary_Fullett so we have a retest of ice Brian_O 3 more charts, inevitable Gary_Fullett BUT a lack of demand Gary_Fullett so who thinks this si spport to buy? Anna May be Gavin Gary_Fullett lol Gary_Fullett would he? Anna Im sorryy......lol Chuck for a proper test you would want to see the close higher Brian_O poor Gavin, tough crowd Gary_Fullett well ideally yes check Gary_Fullett a no supply bar is what gavin will clal it Gary_Fullett or only a no demand abr? Gary_Fullett bar? Gary_Fullett well go to page 3 Anna at least a two bar break with volume or some sos for me. Gary_Fullett i added more lines Gary_Fullett not the volume decrease Gary_Fullett nOT demand to move it higher Gary_Fullett sos? Anna no demand with a "Built in" place for a stop Brian_O I don't think so, nothing I'd be interested in buying anyway Anna 75 ish Gary_Fullett u have a breaking of the ice Gary_Fullett and a retest of the ice Gary_Fullett and u reaned the ice area Gary_Fullett BUT we d dont have demand Gary_Fullett base don lght volume tonyw until demand resurface and show itself, do not buy here Gary_Fullett why tony'/.? Gary_Fullett why does demand ahve to take over? tonyw May 6th is big Red flag, the following weak rally is not convincing Gary_Fullett great Brian_O because there is weakness in the near background Gary_Fullett the mayth 6 th bar Gary_Fullett is seome selling Brian_O demand has to prove itself Gary_Fullett so u neeed a demand rally Gary_Fullett why brian? Gary_Fullett becase of the may 6th action is why Gary_Fullett u borke ice are u need demand to over take that reistance Brian_O May 6th was high vol selling day and buyers have not taken back control w/ any high vol bars Gary_Fullett correct Gary_Fullett very veyr well said Brian_O I'm reiterating your words but thanks anyway Gary_Fullett well if u undersytand it Gary_Fullett ' it si wonderful Gary_Fullett last chart Brian_O it actually does Gary_Fullett i tied it togther Gary_Fullett amos tomrrow night Gary_Fullett the last Gary_Fullett rally before mark down si prelimainry supply Gary_Fullett those few bars Gary_Fullett remeber markest counter trenf Gary_Fullett counter trend s ast 1-3 bars Gary_Fullett maybe 3-5 bars Gary_Fullett so u had about 4 year Gary_Fullett 4 bars not years Gary_Fullett then the low end close Gary_Fullett just like the es chart Gary_Fullett remeber Gary_Fullett the 5th bar on the es chart' Gary_Fullett the msmall rnage bar low end close Gary_Fullett at the 1070 area Gary_Fullett 1170 maji left. Gary_Fullett and the low end clsoe Caby left. Gary_Fullett told u that probably Gary_Fullett the correcion rlaly is over Gary_Fullett this lead to mark down Gary_Fullett unsersatnd Gary_Fullett ths wa sfrom the newsltter Gary_Fullett see why we failed Gary_Fullett no demand form the breaking of the ce areA Gary_Fullett lead to sellyong Gary_Fullett any q? Gary_Fullett comment Gary_Fullett ect Ory great lecture Gary Gary_Fullett i went slow so u can work thru it and ask Brian_O nice quiz also Anna Great Lesson Gary Ty !! Gary_Fullett ty for the imput Gary_Fullett the quizze sis how one learns Gary_Fullett tey are one of the better part sof the nl imho Gary_Fullett i get alot of good comments tonyw you made it very clear Gary, Great job! Gary_Fullett okay ty Gary_Fullett I bid u a great nght and great trading Gary_Fullett left.