Welcome to the

TradeGuider U.S.
Mentorship Course

Class Starts at 6:00am

Chicago (CST)
 Your Presenters

Tom Williams Gavin Holmes

Professional Trader,
Retired Syndicate Trader Author & CEO
and Inventor of VSA TradeGuider Systems
 Mentorship Class Format
• The Mentorship course has two main sessions each day
lasting approximately one hour 15 minutes.
• We will take a 10 minute break between sessions.
• Audience participation is highly encouraged.
• No question is a silly question, if you do not understand, ask
us.
• We all cannot talk at once, so when you have a question,
please type “Question” , and we will address your question.
• It is highly recommended you take notes.
 Mentorship Sessions
1. Why do a large percentage of retail traders lose money and how to
develop your own plan for success using VSA.
2. Identifying VSA Signs of weakness with trade set ups shown.
3. Identifying VSA Signs of weakness with trade set ups shown.
4. Identifying VSA Signs of strength with trade set ups shown.
5. Identifying VSA Signs of strength with trade set ups shown.
6. Understanding “Smart Money” accumulation and distribution.
7. Trading Upthrusts and Springs at support and resistance.
8. Identifying “Trigger Numbers” using trend lines and channels.
 Mentorship Sessions
9. How to identify a market top and a market bottom.
10. Putting it all together – Review and plan assessment.

Live Trading Session with Tom and I.

You all trade LIVE with an Infinity AT simulator in the live market.
Tom and I will be trading our live accounts – You can trade as one
group or individually, you decide.
 Mentorship Sessions – Times
All times are CHICAGO CST
(pacific 2 hours behind / eastern 1 hour ahead)
Session 1 and 2 – Monday 6th August 1.00pm – 4.00pm
Session 3 and 4 – Tuesday 7th August 1.00pm – 4.00pm
Session 5 and 6 – Wednesday 8th August 1.00pm – 4.00pm
Session 7 and 8 – Thursday 9th August 1.00pm – 4.00pm
Session 9 and 10 – Friday 10th August 1.00pm - 4.00pm
 Mentorship Objectives Europe session
• Better timing
• How to cut losing trades quickly and know why
• Learn to trade well for the sake of trading well
• Mental preparation
• Fewer but better trades
• How to deal with the delay on the daily data to set up for the next day.
• Proper stop placement.
• Highest probability entries
• Confidence in reading the market correctly
• Identifying accumulation and distribution
• Learning correct exits
• How to identify absorption volume
 Mentorship Objectives
• How to identify when a stock is ready to short or go long.
• To re-enforcement of existing knowledge gained through books.
• Trade Management and Risk assessment
• Creating a Trading Plan
• Learn one VSA high probability VSA set up.
• Build a small account using good risk management.
• How to be the read background correctly.
• How to be a better, disciplined trader using risk management and VSA
system.
• How to maximize profits.
• How to identify a high probability VSA sequence.
 Mentorship Objectives
• To learn all the VSA principles and then put them into context to
include background and trade set ups.
• To learn how to identify the highest probability low risk entries
using VSA.
• To learn how to clearly identify professional distribution and
accumulation and know where and when to take a trade.
• To learn how to identify market tops and bottoms.
• To understand the “Herd” and “Weak Holders” and how to avoid
becoming either of these!
• What is a “Shakeout” and how to recognize and profit from this
maneuver by professionals.
 Mentorship Objectives Contd
• Understanding the “Upthrust” and where to place a trade after you
see this.
• To learn the significance of the range or spread on any individual
bar and how to put it in context with the background.
• Understand why the background is vital to placing a trade at the
right edge.
• To learn why multiple timeframes are important and how to choose
the right timeframe for your chosen market.
• Understanding what is a “Test” and the different types of “Tests”
that can be both bullish and bearish.
 Chart Reading Mentorship
Objectives Contd
• To learn how to identify VSA patterns as they appear and be patient
to get the best entry. All VSA patterns seen in hindsight must have
been there as they unfolded.
• To get your questions answered about specific issues you are having
with your trading/investing and gain confidence in your chart
reading ability.
• To understand Supply and Demand and the effect the imbalance
has on the chart.
• To know the best place to put a stop loss, market order and buy/sell
order above or below price action.
• To learn from other like minded traders.
 What Qualities Makes a Good
Trader and Investor
• Patience
• Timing
• Confidence
• Study
• Self Discipline
• Mastering VSA
• Do what the VSA Experts Do
• Desire / Will to win
• Focus
• Understanding the game with an open mind
 What Qualities Makes a
Good Trader and Investor
• BELIEF!!
• Educated
• Has trading plan that works.
• Good risk management.
• Concentration.
• Independent in thought.
• Be contrarian / believe the charts.
• Coping with fear.
• Following the system that you are comfortable with.
• If you are wrong – CLOSE THE TRADE!!!
What is Volume Spread
Analysis
The Basic Concept
The Naked Chart
The Major VSA Patterns
 VSA Signs Of
Weakness
With Trade Set Ups
 Signs of Weakness
• Up bars, narrow or wide spread, close high, middle or low.
• Volume can be high or low.
• Narrow spread indicates supply.
• This supply “caps” any attempt to move up.
• Ultra high volume up bars (the classic trap of “Smart Money!!)
• Professionals have no interest in the upside – Low volume.
• Professionals are selling into the public buying – Higher volume.
• High + volume shows supply – public buying – smart money selling.
• Low – volume shows no interest from “Smart Money” so prices will
not go higher.
BEWARE OF ULTRA HIGH VOLUME UP
BARS – THEY ARE USUALLY WEAK
BARS DRIVEN BY NEWS
SOW – Principle 1 – The End Of A Rising Market

Up-bar on a narrow spread, close middle or low, volume

very high or stronger if ultra high. Weakness always
appears on an up-bar because professional selling has to
sell into a surge of buying. The narrow spread indicates
supply. Something has put a lid on the top of the market.
Selling, or lack of demand from professional money are
the only two things that can do this. If the volume is ultra
high this will show a serious sign of weakness. This sign
of weakness needs to have the following criteria.
 The End Of a Rising Market
• The high or ultra high volume up bar must be into fresh new ground
and will have a strong bull run in the background.
• The price range or spread should be NARROW. The example shown,
US stock JPM has a very narrow range, in fact it is within $1.00 for
the day in question, 14 October 2009.
• The NEWS will be good and that is to mislead you. You will have the
urge to buy because the media, brokers etc will be recommending
this as a strong buy when they should in fact be warning you not to
buy or indeed sell!!
• If the market is gapped up and is approaching or at previous
resistance then this is an even stronger sign of weakness.
14 October 2009 –
Great News JPM
US Stock JPM 14th October 2009
Chart 1
Do we have an old resistance
level to the left?
Chart 2
Shorting AFTER you see End Of a Rising Market

• Wait for the market to ROLL OVER, almost like the top
of a mushroom.
• We need to see a DOWNTREND forming. Look for the
market to make lower high’s on the price bar each day.
• As the market falls we wait for a NO DEMAND up bar,
an UPTHRUST on either high or low volume (which we
will explain shortly) that is the place to enter a short
position.
Mushrooming Over = Distribution
Chart 3
US Stock JPM -High Probability Short Entry – Chart 4
 Tom Williams Simple Trending
System For Short Trading
• Identify a serious sign of weakness first, such as End of a Rising Market,
Buying Climax or Ultra High Volume or Low Volume Upthrusts. These
should be followed by NO DEMAND.
• Wait for at least 10 BARS IN ANY TIMEFRAME to see the result of the
weakness.
• In a strong downtrend we should see increasing volume (not excessive or
ultra high) on down bars and decreasing volume on up bars.
• In a downtrend you can allow for 2 up bars if they are on low volume.
Ignore level bars or near level bars, that is a bar that has closed at or near
the same price as previous bar.
• The end of the downtrend is often seen by two consecutive up bars
followed by a Test or No Supply down bar.
Identifying and Staying In a Downtrend – Chart 5
GBP/USD FOREX Trade Entry To Short
in a downtrend Chart 6
SOW – Principle 2 – No Demand at Market Top

Markets are constantly being traded. A sudden down move will

lock many traders into poor positions as they wait and hope for
a rally to get out with little or no loss. If after a reaction the
market then starts to go up, then any old resistant level will
require effort to go up and through these old highs because
they have to overcome the selling from these locked in traders.
To approach an old high on low volume and narrow spreads
indicates that the old highs are not going to be penetrated
because there is no demand. A market will not rise when there
is no professional interest to the upside.
US Stock Apple - No Demand at a Market Top
Chart 7
And We Have an Old Top to the Left
Chart 8
Apple No Demand December 2007
Chart 9
UK Stock AVIVA - No Demand at Market Top
Chart 10
Shorting AFTER you see No Demand at a Market Top

• Wait for the market to ROLL OVER, remember, we do

not know if this is the actual top until we see a change in
trend.
• Do not go short on No Demand bars like this if there is
an UPTREND still in place. Be patient.
• These bars are far more powerful places to short when
you have a serious sign of weakness in the background,
such as a Buying Climax or End of a Rising Market.
SOW – Principle 3 – No Result From Effort

This is known as no result from effort. Any indication of

strength in an uptrend you should expect a strong market.
If the next bar is down on a wide spread closing on the
lows and the low and the close is lower than the previous
bar this is a countermanding signal. You do not fight the
market but you have to assume that there has been no
result in an effort to rise therefore the market must be
weak at that time. If the original indication was genuine
SOS then professional money would immediately move
into the market giving higher prices not lower.
US Stock BIDU No Result From Effort
Chart 11
UK Stock British Airways -No Result From Effort
Chart 12
Shorting AFTER you see No Result From Effort

• This will usually appear in an uptrend but is a far more

powerful short in a downtrend.
• Do not short in an uptrend, if the market is weak it will
roll over and you will see further signs of weakness.
• This is a powerful short when there is a downtrend in
place and you see this at the TOP of the downtrend
channel.
SOW – Principle 4 – The Upthrust

The Up-Thrust. Up-thrusts are there for a very good

reason and that is to trigger stops in a weak market.
However, many chart patterns look like Up-Thrusts but fail
to live up their promises. The Up-Thrust has to look right.
It has to be in the right place. Many are created in a
strong market by gapping up at the opening then falling
off for a rest only to carry on up. The genuine ones are
easy to see. Basically you should have SOW in the
background not SOS.
JPY/USD FOREX The Upthrust –
In The Right Place – Chart 13
Gold Futures -Upthrust in Down Trend with
Ultra High Volume - Chart 14
UK Stock British Land -The NO DEMAND UPTHRUST
Chart 15
Shorting AFTER you see an Upthrust

• This can and does appear in an uptrend but it is not a

genuine upthrust because you are in an uptrend, but is a
far more powerful short in a downtrend. Do not short an
upthrust in an uptrend, it is in the wrong place.
• This is a powerful short when there is a downtrend in
place and you see this push through the TOP of the
downtrend channel.
• Look for signs of weakness in the background.
SOW – Principle 5 – No Demand in a Downtrend

Up bar on volume less than the 2 previous bars. This

indicates lack of demand from professional money. It is
important that this principle, called No Demand, is on an
UP BAR, a bar closing higher than the bar behind it, and
for the best short it should appear AFTER a MAJOR SIGN
OF WEAKNESS and in a DOWNTRENDING MARKET.
After seeing a No Demand bar, do not sell at market but
place a sell stop below the bottom of the No Demand bar.
US Stock Goldman Sachs No Demand – In The Right Place
Chart 16
UK stock Thomas Cook No Demand – In The Right Place
Chart 17
Shorting AFTER you see No Demand

• This can and does appear in an uptrend but is a far

more powerful short in a downtrend. Do not short an No
Demand in an uptrend, it is in the wrong place.
• This is a powerful short when there is a downtrend in
place and price goes up to the top of the downtrend
channel on No Demand.
• Look for signs of weakness in the background, this is
particularly powerful when seen AFTER a Buying Climax
or End of a Rising Market.
SOW – Principle 6 – Wide Spread Down Bar Through
Previous Support.

A down bar on a wide spread and closing on the low

pushing down and through a previous support level with
the next bar down. You should have had some up move
behind you, and this price action is used to lock you into a
poor long trade. You will see No Demand after this to
confirm the weakness.
Oil Weekly 2008 News is Good – GOTCHA IF YOUR LONG!!
Chart 18
GBP/USD FOREX - Wide Spread Down
Chart 19
Sugar Shortage – Prices Must Go Higher
Sugar Weekly – Locking In Longs
Chart 20
Shorting AFTER you see a Wide Spread Down Bar
through previous support

• After you see this sign of weakness, it is confirmed as

major weakness if the next bar after it is also a down
bar or if it is an up bar it should look like our chart
example number 17.
• Make at least TWO lower highs to confirm the start of a
downtrend.
• Enter a short trade on a No Demand Up Bar or an
Upthrust on high or low volume.
SOW – Principle 7 – Buying Climax

Buying climax. Up bar with wide spreads closing middle

or low on ultra high volume. Very powerful SOW if there
are no old tops to the left. As a market keeps on going up
day after day a point will be reached at some time when
many traders that have sold prematurely or those that are
not in the market cannot stand the constant higher prices
and frenzy gives the trading syndicates and market
makers a golden opportunity to unload large amounts of
stock at a high price without their activity resulting in lower
prices. This marks the high point of the market.
UK Stock British Airways - Buying Climax
Chart 21
Shorting AFTER you see a Buying Climax

• Be cautious, because of the momentum of the uptrend

the market may drift up for several bars or shoot up on
an upthrust. A short trade entered as the bottom/low of
the buying climax bar has been broken and then price
goes up to that area on No Demand is the best short.
Sugar Daily- Buying Climax and a Test
Chart 22
SOW – Principle 8 – Top Reversal

Top reversal. This is a common sign of weakness. The

first bar is marked up rapidly, closing on the highs (usually
on good news). The volume can be high (supply
swamping demand) or low (no demand). The next bar
rapidly reverses down, on a wide spread, closing on the
lows. If the low and the close is lower than the first bar
this adds to the weakness. As with all these indications, it
is important to read the following bars for confirmation of
continued weakness. This sign of weakness is very
powerful if you have a strong bull move up behind you.
JPY/USD FOREXTwo Bar Reversal with Failed Test
Chart 23
UK Stock KGF Two Bar Reversal
Chart 24
Shorting AFTER you see a Two Bar Reversal

• After you have seen this VSA set up which will often
mark a top you should wait for the market to trend
down, entering a short trade when you see a clear No
Demand Entry or Upthrust on either low or high volume
as the market trends down.
 Before taking a short position
• Have you seen a rollover and is the market in early stages of downtrend
or still in an uptrend?
• Is the market falling with no professional support?
• Is the low of each bar lower than the previous bar? (you may allow 1 up
bar for every 2 down bars for a downtrend)
• Are you into fresh high ground when distribution starts?
• Is there a trading range to the left?
• Is there lots of GOOD NEWS about this particular market?
• Is the market in an overbought area of the trend channel?
• Is there End Of A Rising Market / Buying Climax in the background?
• Are you entering on a down bar – remember weakness appears on up
bars?
Commodity Futures Information
VSA Signs Of
Strength with
Trade Set Ups
 Signs of Strength
• Down bars, narrow spread, close middle or low.
• Volume can be high or low.
• Narrow spread indicates no professional selling.
• This buying prevents any attempt to move down.
• Ultra high volume down bars (the classic trap of “Smart Money!!)
• Professionals have no interest in the downside – low volume.
• Professionals are buying into the public selling – Higher volume.
• High + volume shows demand – public selling – smart money
buying.
• Low – volume shows no interest to the downside from “Smart
Money” so prices will not go lower.
SOS – Principle 1 – Bottom Reversal

Bottom reversal. A wide spread down bar closing on the

low. The low and the close is lower than the previous four
bars. Followed by an up bar on a wide plus spread
closing on the highs. This arrives in a variety of versions
but basically the first down bar is a shake-out usually on
so called bad news. The second bar is rapidly marked up
to lock traders in (if you shorted) or out of the market if
you wanted to buy the market. (people hesitate buying
because it now appears expensive to the earlier price.)
US Stock JPM Bottom Reversal
Chart 25
US Stock AMAT - Bottom Reversal
Chart 26
Going Long AFTER you see a Bottom Reversal

• When this sign of strength appears, there will be a

down trend in place. This can often mark the bottom or
turning point. Wait to make at least 3 higher lows on
the bar, meaning price action is moving up, then look to
enter on a low volume down bar, a Test, No Supply or
preferably a Test in a Rising Market
Tom Williams Simple Trending System
For Long Trading
• Identify a serious sign of strength first, such as a Bottom Reversal, Selling Climax
or Ultra High Volume or Low Volume . Look out for Shakeouts. These should be
followed by a Test or No Supply.
• Wait for at least 10 BARS IN ANY TIMEFRAME to see the result of the strength.
• In a strong uptrend we should see decreasing volume (not excessive or ultra high)
on down bars and increasing volume on up bars (again, not excessive or ultra high)
• In a uptrend you can allow for 1 down bar if they are on low /average volume.
Ignore level bars or near level bars, that is a bar that has closed at or near the
same price as previous bar.
• The end of the uptrend is often seen by two consecutive down bars followed by a
NO DEMAND up bar
SOS – Principle 2

Stopping volume. To stop a down move demand has to

overcome the supply. As a market falls day after day a point
will be reached when the herd cannot stand the losses so
they all tend to panic at a similar time. If the price levels
reached are now attractive to professional money they will
step in and start buying. This activity causes a surge in
volume as they buy and cover their short positions.
Stopping Volume on BAD NEWS in a Bull Market
Chart 27
US Stock MRK -Stopping Volume - No Supply
Chart 28
US Stock Citigroup Stopping Volume
and Churning - Chart 29
Going Long AFTER you see stopping volume

When “Smart Money” or Professionals accumulate you will

see it beginning on high volume down bars, but the
accumulation phase takes time. Do not try to buy the bottom,
after seeing stopping volume wait for the market to drift up
then come back down into the area of stopping volume on
LOW VOLUME, the LOWER THE BETTER. If the spread is
narrow and the market makes two higher lows within 25
bars this confirms the long position, enter on any low volume
down bar after this, place an a buy order above the low
volume down bar, let the market come to you. This is called a
successful test.
SOS – Principle 3 – The Test and Types of Tests

The Test. This is a very common Sign of Strength frequently seen just
before an up move. You must have strength in the background. A test is
doing exactly what is says, it is testing something, it is testing for supply.
Too much supply the market will fall, if there is no more supply the
market must go up. If there is still too much supply a test can fail and if
you see a failed test in a weak market it confirms that the market will
continue to fall. Tests need TWO BARS to confirm strength. A test can
FAIL so we wait for the next bar to be up to confirm strength but we
MUST have strength in the background. If you have weakness in the
background and you see a test and the next bar is DOWN, this is a
strong sign of additional weakness and is called a FAILED TEST.
 US Stock Goldman Sachs –
The Test in a Bull Run – Chart 30
E-Mini S&P - The Test On Very Low Volume
Chart 31
 UK Stock Barclays The
Test After Strength – Chart 32
UK Stock Barclays The Test After Strength - Entry Bars
Chart 33
Going Long AFTER you see a test

• YOU MUST have strength in the background, such as

stopping volume or climactic action. Place a stop under
the low of the climactic bar and place a buy order above
the test bar. A test can fail and you can re-test an area
several times before the market moves up, so placing an
order above the test lets the market come to you. If the
test fails you are not in the position.
SOS – Principle 4 – Absorption Volume

A wide spread up bar closing on the highs pushing up and

through an old top to the left. This is demand and an effort
to go up. After this event the market usually rests or starts to
react, you are now looking for indications of strength to
confirm the strength.
GBP/USD FOREX Absorption Volume
Chart 34
Going Long AFTER you see absorption volume

• WAIT – You are looking for a test of this volume.

Placing a buy order above the absorption bar close is
the safest place to enter.
SOS – Principle 5

This is a variation of stopping volume which has arrived on 2

bars rather than on 1 bar. On the first bar supply was so
heavy that professional money was unable to absorb all the
stock dumped onto the market. This allows the market to
fall on the next bar usually on so called ‘bad news’. This
can be gapped down on the opening causing the panic.
However, to close in the middle or highs indicates demand
has overcome the supply.
US STOCK APPLE – Bag Holding
Chart 35
Going Long AFTER you see Bag Holding

• This is a serious sign of strength and often if not always

marks the bottom. Look for the first test bar and enter a
buy order above the test.
SOS – Principle 6

Selling climax. Wide spread down closing in the middle or

high after a substantial down move has already taken
place. The volume is ultra high. As a market falls day after
day a point will be reached when traders will start to panic
and encouraged by bad news will start to dump stock onto
the market. If the market closes in the middle or high then
professional money must have decided that the lower
prices now looked attractive and will start to buy into the
panic selling. The activity will cause the volume to be ultra
high. This marks the low point of the market.
 US Stock MRK –
Selling Climax – Chart 36
Going Long AFTER you see a selling climax

• This is a serious sign of strength and often if not always

marks the bottom. Look for the first test bar and enter a
buy order above the test, same as for bag holding.
SOS – Principle 7 – The Shakeout

The Shakeout - Wide spread down closing on the middle or

low. Most often seen after a strong down move. Volume can
be high or ultra high. If this is seen in an uptrend it is a very
strong buy opportunity. “Smart Money” have to buy at lower
prices and will do anything to get the price down to buy more
of the instrument they are accumulating. This will nearly
always be seen on bad news and will often mark the next leg
up of a trend.

A shakeout can also be seen at market bottoms and is

especially powerful if you have a selling climax in the
background.
US Stock Microsoft –
The Shakeout - Chart 37
US Stock Microsoft –
The Shakeout - Chart 37
US Stock Goldman Sachs The Shakeout
Chart 38
The Shakeout
The Shakeout
Going Long AFTER you see a shakeout

•When you see a shakeout on a bad news in an up

trending market it is a strong buy opportunity, but wait
for the next bar to be up before entering. If you are
more cautious wait for a test. Place a buy order above
the test.
SOS – Principle 8 – No Supply / Test in a Rising Market
/ No Selling Pressure

No Supply / Test in a Rising Market / No Selling Pressure -

A Down Bar on volume lower than the previous two bars
shows lack of selling pressure as the market falls. The
background is important here, this is only a entry to the
long side if you have strength in the background, not
weakness. This is a higher probability entry to the long side
when you have an uptrend in place, do not enter long in a
downtrend on this set up.
 Nasdaq - No Supply
No Selling Pressure – Chart 39
The New York Traders Expo Challenge Trade Explained
Chart 40
The New York Traders Expo Challenge Trade Explained
Chart 41
The New York Traders Expo Nasdaq Trade Explained
Chart 42
The New York Traders Expo S&P Trade Explained
Chart 43
The New York Traders Expo S&P Trade Explained
Chart 44
Going Long AFTER you see No Supply or a Test in a
Rising Market

•When you see No Supply with climactic action in the

background this indicates higher prices so enter a buy
order above the high of the no supply bar.
Identifying Trigger Numbers – Nasdaq
Chart 45
Identifying Trigger Numbers Nasdaq
Chart 47
 Before taking a Long position

• Is the market in early stages of uptrend or still in an downtrend?

• Is the market rising with no professional support?
• Is the high of each bar higher than the previous bar? (you may allow
1 down bar for every 2 up bars for an uptrend)
• Are you into fresh low ground when accumulation starts?
• Is there a trading range to the left?
• Is there lots of BAD NEWS about this particular instrument?
• Is the market in an oversold area of the trend channel?
• Is there a Buying Climax in the background?
• Are you entering on a up bar – remember strength appears on down
bars?
 Summary
• Each of us are unique. We have different account sizes, loss tolerance levels,
experience levels, different ways of viewing things (two people can look at the
same mountain from the same place and see entirely different perspectives),
and different levels of self discipline.
• These strategies are a guide but must be adapted to your style of trading and
personality. Only YOU can do that for yourself.
• VSA principles apply to all markets where there is volume available and in all
timeframes. We will be looking at stocks but we could easily have looked at the
same patterns in Futures, Commodities, Spot FOREX, etc.
• KISS – Keep It Simple Stupid. Nothing here is rocket science. VSA is very
logical and is based on principles that have been around for decades.
• Take a holistic approach to your chart analysis.
• Definition of Holistic -
– Emphasizing the importance of the whole and the interdependence of its
parts.
 Points To Remember
• Strength will appear on down bars.
• Weakness will appear on up bars.
• The background analysis of the chart is vital.
• Has the strength or weakness appeared at the top or
bottom of a channel?
• Is this a major trend reversal or a retracement?
• Is the news good or bad??
• Is demand overcoming supply?
• Is supply overcoming demand?
 Points To Remember - Continued
• All patterns seen in the past will be there at the right edge
of your chart, but they will come in different intensities.
• VSA is a discretionary methodology that still requires
discipline and money management.
• VSA is much more effective when used with support and
resistance and with Elliot Wave analysis. (Used by
Wyckoff).
• You must use more than one timeframe to see the bigger
picture.
• If you listen to news, have a very contrarian view of the
contents when taking a position.
• The chart never lies, rely on your charting skills.
END OF SESSION – Q AND A