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TFC Commodity Trading Forum

Re: THIS IS WAR!!!!!!!!!!!!!!!!

I don’t disagree.

The Wyckoff terminology for what you explained.. a TR is defined as creek (tr top) and ICE (tr bottom). This also makes it easier to communicate TR price action.
You also mentioned – when price breaks the TR - say we move under support. We call it breaking of ICE, the opposite would be a JOC (jump over creek). Pretty basic stuff yet definitive.

If a market’s gonna spring the TR. Price will break ICE (move below support the TR’s low) then immediately move back inside the TR (springs usually last no more the 1 to 2 bars) we define it as a spring. Opposite would be labeled an UT (upthrust). That’s why in up trends you buy springs, down trends sell UT’s. You can make a living doing this.

Your comment Meaning that, if price broke out below a TR there needed to be two bars with highs that did not contact the breakout line(bottom of the range in this case) then on day three or four make contact with the bottom of the TR. Day three, four would be a back up to ICE or ST (secondary test). This would be a trigger to get short. Why? supply has control of the market. A markets job is to test & re-test would you agree? However you can get what we call a LPSY- a move above ICE (the TR low).

2 days closing back inside the range should raise flags as to break out failure. right it could be a LPSY or trend continuation. Background would be key.

I used the same numbers for corrections but then again corrections, in my way of looking at it, are little more than price checking the last price range it left. Right!! again a market’s job is to test & retest. Then ask yourself, if we are in a correction where is the logical resistance? This is where your method or technical analysis kicks in. I will add, it’s not pattern recognition, you can’t quantify it either. With mental discipline discretionary trading is the way to go. imvho