WYCKOFF TRADING PRACTICUM COURSE

12.10.2019

Next WTPC webinar sessions in December:

December 17 at 3:00-5:30pm PST

Homework submission: All homework assignments should be submitted in ONE file per person in .pptx, .pdf or .doc formats.
Please include your first name and the first letter of your last name in the homework file name, e.g., “Thomas B_WTC
Homework 1”. All assignments should be submitted to wyckoffassociates@gmail.com with the email title WTC Fall2019-
Homework# .
Students who would like to participate in discussions should have a working headset with a built-in microphone.

Announcements
December Special: Long-term Campaigns and Swing trading around it; 11/12 and 11/19 at 3 pm PST
Wyckoff Trading Course, Part II “Practicum” – Registration is open!

Session 14 1. Market Update

2. Anatomy of a Trade (TTD)
TACTICS
3. Bias Game
4. Q&A
5. Trade Analysis
6. Exercise #10: Tape Reading or Bias Game

Comments/questions from students:

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 WYCKOFF TRADING PRACTICUM COURSE

Disclaimer
This presentation (including the lecture, slides and discussion) is for informational and educational purposes only; it should not be
construed as investment advice of any kind. Roman Bogomazov (Presenter) is not a registered investment advisor or broker-dealer, and
does not purport to recommend or suggest any securities to buy or sell. Presenter assumes no responsibility or liability for your trading
and investment results. You understand and acknowledge that there is a very high degree of risk of financial loss involved in trading
securities and that you alone are responsible for your own trading and investment decisions and results.

It should not be assumed that the methods, techniques, or indicators presented will be profitable or that they will not result in losses. Past
results of any individual trader or trading system published by Presenter are not indicative of future returns by that trader or system, and
are not indicative of future returns which will be realized by you. In addition, the indicators, strategies, articles and all other features of
Presenter's products are provided for informational and educational purposes only and, again, should not be construed as investment
advice. Accordingly, you should not rely solely on the Presenter’s information in making any investment. Rather, you should use the
Presenter’s information only as a starting point for doing additional independent research in order to allow you to form your own opinion
regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any
investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE
RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND DO NOT INCLUDE BROKERAGE AND OTHER FEES, OR SLIPPAGE.
ALSO, IN SIMULATED PERFORMANCE RESULTS NO TRADES HAVE ACTUALLY BEEN EXECUTED, AND THEREFORE THE RESULTS MAY HAVE
UNDER- OR OVER-COMPENSATED FOR THE IMPACTS OF A VARIETY OF MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED
TRADING PROGRAMS, IN GENERAL, CAN ALSO BE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT
ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

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 WYCKOFF TRADING PRACTICUM COURSE
Q&A

ANINDO
I am sending you a chart of ROKU with 3 analog down bars circled .
After the first analog (circled area 1) ROKU made a bear flag and headed down, After the second gap down bar (circled area 2) ROKU bottomed and went up. On Monday ROKU gapped down and then
rallied , stalling today at resistance. My question is can we tell based on analogs and Wyckoff analysis whether ROKU goes down into a potential phase C test of the lows or does it rally to the top of the
range and eventually breaks out.

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 WYCKOFF TRADING PRACTICUM COURSE

MARKET CHARTS

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 WYCKOFF TRADING PRACTICUM COURSE
Q&A

SIMON
Have I labelled the Wyckoff phases and events correctly as a horizontal structure, or is it an upsloping structure? I second guess the horizontal structure, since |B| is too small and the lowest low of the SOS
rally is also in the middle of the TR or is it earlier? If so, it makes |B| even smaller.

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 WYCKOFF TRADING PRACTICUM COURSE
TTD (Trade Desk Inc.) ANATOMY OF A TRADE

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 WYCKOFF TRADING PRACTICUM COURSE

RONNY
Just want to share a trade I was able to do thanks to what I have learned through your courses. The knowledge kept me calm and prevented me from closing my trade prematurely. I expect some volatility as there was a lot of volume coming in at the top.
I have already signed up for the December special, so looking forward to get some knowledge on how to properly manage a position like this, As I’m still in it with a long-term campaign position. And I expect to be swing trading it when the chance reveals
itself with smaller positions, as I just did on the initial push. I was thinking of closing the long-term position as well, due to the huge gain over a short period. But was unsure if that would be a wise decision, as I was unsure on how the price would behave
on the reaction and according to Wyckoff methodology, we are just in the start of a long-term uptrend. (Hopefully).
Any input on the trade in itself? Or things I should look out for in the closest future?? Would it be a good idea to close or scale out of the main position on behaviors like this?

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 WYCKOFF TRADING PRACTICUM COURSE

BIAS GAME

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 WYCKOFF TRADING PRACTICUM COURSE
Q&A

DIMITRI
The bias starts to the downside.

Swing 1 Orange: I see an increase in volume and an increase in the spread down. My Bias is down.

Swing 2 Green: I see demand came in creating a stopping action of swing 1, causing a reversal on low volume. The price does
not commit above the high of swing 1. Although I saw demand come in at the bottom of swing 1, I see no bullish result and
my bias remains to the downside.

Swing 3 Cyan: The swing goes back down to the support area. The spread to the downside is decreasing relative to swing 1.
There is less volume and less velocity to the downside on swing 3. My bias is not bullish yet, but starting to take note that the
downside bias is losing validity.

Swing 4 Blue. Increased spread and velocity to the upside on overall decreased volume. Ease of movement to the upside.
Higher high is created. Bias is starting to turn to the upside. Need a higher low for confirmation.

Swing 5 Light Purple. Price spread and velocity increases again back to the downside. Although I see demand coming in at the
bottom of the swing, creating a stopping action, the result is still a lower low. My bias turns back to the downside.

Swing 6 Dark Purple: This is an important swing in my understanding. Here I see, a similar price velocity and a high demand
bar to the upside. I see an increased volume presence on this swing up relative to all other previous swings up. However, the
result is a lower high. Here I see an increased effort to the upside with no commitment above the prior swing high. Increased
effort, decreased result. Bias remains down.

Swing 7 Brown: Largest downswing in the chart. Increased volume. I see increased effort to the downside, with an increased
result to the downside (a lower low is created).] effort and result to the downside are synchronized here.A minor comment, I
do see the selling velocity decreasing relative to other downswings, but that is not enough evidence to throw out the
observation of increased volume and increased result (lower low).Bias remains down.

Swing 8 Black: Largest demand bars in the chart besides the one in swing 6. Similar effort to prevous swing up but result
creates a lower high, specifically near a previous supper/new resistance area. Although demand came in, it was not enough to
sustain a swing and create a higher high. Bias remains to the downside...

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 BIAS GAME #28: ACCUMULATION OR DISTRIBUTION?
Vote on @wyckoffanalysis

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 INTU (DAILY) Accumulation
Intuit, Inc. WYCKOFF STORY #28

#1 The initial stopping action

Phase |A| Phase |B| Phase |C| (BC), Automatic Reaction (AR)
Major Sign of Strength (MSOS) and Secondary Test (ST) show
little evidence of increased
Upthrust Action (UTA) selling. There is no downward
Secondary Result, as the ST and following
Test (ST) reaction produce a higher high
Buying Climax (BC) and higher low. At this point,
the bias is bullish.
Last Point of
Support (LPS) #2 Demand emerges during
the Phase |B| rally; price
commits and stays above
Automatic
Reaction (AR) resistance for several weeks
Test before the Upthrust Action
(UTA) – this is also bullish.

Spring #3 The increased Supply and

volatility in the reactions
following the UTA suggest a
possible change of behavior.
1. NON-THREATENING 3. INCREASED VOLATILITY, BUT However, several attempts to
AUTOMATIC REACTION 2. RALLY HAS SOME WITH DIMINISHING DOWNWARD 4. BULLISH SPRING commit below support fail to
AND SECONDARY TEST DEMAND BEHIND IT RESULT BEFORE PHASE |C| AND SUCCESSFUL TEST produce a meaningful
downward Result.

#4 The final push down shows

less Supply than the prior
reaction; the two up-bars out
of the spring demonstrate
momentum and increasing
Demand. The successful test of
the spring (with a higher low
and less Supply) herald the
renewal of the uptrend,
confirming the bullish bias.
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 BIAS GAME #29: ACCUMULATION OR DISTRIBUTION?
Vote on @wyckoffanalysis

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 DAILY TRADES ANALYSIS

MANUAL

HOMEWORK

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 This position has been
stopped out today!

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 TRADE EXECUTION VARIANCE

POST - ANALYSIS

HOMEWORK

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 ANALYLIS AND
TRADE TACTICS

DAILY/WEEKLY
TRADE ANALYLIS
AND POST-ANALYSIS

VISUALIZATION
OF THE TRADE

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 ANALYLIS AND
TRADE TACTICS

DAILY/WEEKLY
TRADE ANALYLIS
AND POST-ANALYSIS

VISUALIZATION
OF THE TRADE

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 WYCKOFF TRADING PRACTICUM COURSE
Q&A

ANINDO
Chart 1 - Question : Please comment on my anticipated price movement based on horizontal Volume -
Chart 2 - This is a longer term chart - is my analysis correct that 'Accumulation complete - ready to move up'
Chart 3 - Question : Do you use Horizontal Volume in P&F charts ?

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Wyckoff Story Left to right tells
Me Accumulation complete –
Ready to move up
Do you use Horizontal Volume on P&F or only Vertical Volume?