大家好， 欢迎回到我们 hello everyone and welcome back we are
很高兴欢迎总统 delighted to welcome the president of
技术证券分析师协会 technical Securities analyst association
在这届罗马罗马孜然关闭 Roman cumin off in this session Roman
将提供实用的交易工具 will present practical trading tools
最初由RichardWyckoff开发 originally developed by Richard Wyckoff
一个多世纪以前罗马谢谢你 over a century ago Roman thank you so
很高兴今天加入我们，谢谢你们 much for joining us today thank you can
你现在 听我说是的，一切都没问题 you hear me now yeah everything's okay
一切都很棒只是发现它是 everything's great just find it's the
地板是你的，听起来不错 floor is yours all right sounds great
也非常感谢你邀请我和 well thank you so much for having me and
欢迎参加本届会议 welcome to this session on wake of
方法论一些快速的话 methodology some quick words about
我 myself
我在金门教授威科夫 I teach Wyckoff at Golden Gate
旧金山大学我也教过 University in San Francisco I also teach
威科夫方法在金门之外我 Wyckoff method outside of Golden Gate I
用它来做我自己的交易 use it for my own trading and
专门用于咨询和交易 specifically for consulting and trading
对冲基金和机构 for hedge funds and institutional
交易员对此非常感兴趣 traders there is a big interest in
这些神话的制度界 institutional community for these myths
太平洋方法，专门用于 Pacific methodology and specifically for
趋势分析和大型活动等等 trend analysis and big campaigns so
他们使用的大型机构 those big institutions they use the
识别长期趋势的方法 method to identify long term trends like
你知道一年或两年 you know from a year or two you know
这五年有点像 three five years so that's kind of like
我的快速背景我们只有30 my quick background we have only 30
今天分钟，但我真的这么想 minutes today but I thought that really
真的很快我会经历的 really quickly I will go through the
weikath方法的过滤机制 filtering mechanisms that weikath method
提出了一个选择过程 presents for a selection process of a
库存，我们将进行比较 stock and we'll go through a comparative
相关分析将通过 and relative analysis will go through
在交易中定位股票 positioning of the stock in the trading
范围我们也会经历 range we'll also go through the
确认供需 confirmation of the supply and demand
而且我们也会很快看到 and also we'll quickly look at the
市场方向性偏见所以那些是 market directional bias so those are the
惠氏方法使用的主要四个过滤器 main four filters that Wyeth method uses
选择特定的股票和 to select specific stocks and to
识别出来 identify the
选择因为这是一个 of that selection because this is an
你们这些人的简短会话 abbreviated session for those of you who
有兴趣点燃听到更多 would be interested to lit to hear more
关于同一主题和类似的 on the same subject and kind of like to
扩展我们将要进行的案例研究 expand on this case study we're going to
以家庭人民为例 look at the home people as our case
研究那将是一个 即将到来 的两个 study there's going to be a two upcoming
免费网络研讨会在19日和26日举行 free webinars on the 19th and the 26
这是太平洋时间的3:30所以你可以 it's 3:30 Pacific time so um you can
肯定与我联系，报名参加 definitely contact me to sign up for
那些网络研讨会， 如果你想收到 those webinars if you'd like to receive
关于课程的更多信息 any more information on the classes just
给我发电子邮件或者你有这里的地址 email me or you have the address here to
去看看课程 go to and check out the classes the
演示幻灯片将是 presentation slides are going to be
可用，以便再次只是给我发电子邮件，我 available so again just email me and I
很乐意寄给你那些幻灯片 will gladly send you those slides
好吧，所以这个演示文稿是为了 alright um so this presentation is for
仅限教育目的，我不是 educational purposes only and I'm not
在这里给出任何建议并展示 giving any advice here and just showing
我们如何分析市场或 how we analyze the the market or the
使用方法惠氏这样好吗股票 stock using the Wyeth method alright so
谁是喜欢的肯定是有一些 who was like of definitely there is some
关于他的个性的神秘感 kind of mystique about his personality
因为我认为为什么咳嗽不是 because I think that why cough is not
在技​​术上普及得足够多 popularized enough in the technical
分析社区但他发挥了很大作用 analysis community but he played a big
作为上世纪初的角色 role at the beginning of last century as
你最熟悉的技术人员之一 one of the first you know technicians
谁开发了很多工具a who has developed quite a lot of tools a
很多现代技术的时候我跟 lot of modern technicians when I talk to
他们他们其实都是指像 them they actually all refer to like of
原来的工作和如何很多 original work and how a lot of the
他们创建的指标基于 indicators that they create are based on
那些喜欢我发展我的 想法的想法 those ideas that like I've developed my
咳嗽很多都是当代的 cough was a contemporary to a lot of
当时伟大的技术分析师 great technical analysts of the time
再次像Elliott Edwards和McGee他一样 like again Elliott Edwards and McGee he
也是一个伟大的当代 also was a contemporary to great
竞争运营商，如Jess铝或 campaign operators like Jess aluminum or
詹姆斯敏或摩根大通他有权进入 James keen or JP Morgan he had an access
杰西雷曼沃伦詹姆斯热衷于 to Jesse Lehman Warren James keen and
他所做的是他编纂了很多 what he has done is he codified a lot of
那些伟大的运动的原则 the principles that those great campaign
交易员用于他们的投资 traders used in their investment
培训，因此他创造了 training and as a result he has created
他后来为公众开设的课程 a course for the public which he later
通过股票市场卖出 sold through the stock market the
研究所股票市场研究所 institute stock market institute for
那些可能仍然知道的人 those of you who might know still in
存在，你可以得到 existence and you can get the
关于weikath方法的信息 information from then on weikath method
所以他肯定做出了贡献 as well so he definitely contributed to
现场有很多在上世纪 the field a lot in the last century the
方法论是非常广阔的我认为 methodology is very vast I think that
妻子有点同意他 wife was somewhat agreed when he was
他想要创造方法论 creating the methodology and he wanted
真的要把钥匙交给公众 really to give the keys to the public
进入个人投资者和 into the individual investors and for
他们能够做到所有的 them to be able to make all of the
不同的决定只基于一个 different decisions based on just one
定义市场的方法 methodology to define the market
方向来定义选择 direction to define the selection of the
您想参与的股票 stocks that you want to participate in
了解进入股票的位置 to understand where to enter the stock
了解如何实际进行 to understand how to actually proceed
与贸易管理等等 with the trade management and so on so
因此，方法论相当广泛 forth so methodology is quite broad and
它涉及到不同方面 it goes into different aspects of
技术分析这是一个 technical analysis this is a
关于周期的假设价格我已经 hypothetical price on cycle on that I've
这里绘制的方法论和讨论 drawn here and the methodology discusses
并主要集中在的领域 and concentrates mostly on the areas of
巩固这样一个积累的领域 consolidation so an area of accumulation
就在这里和一个地区 right here and an area of the
分配和原因是 distribution and the reason why is
因为这是趋势开始的地方 because this is where the trends start
所以威科夫会有一个假设 so Wyckoff would have a hypothesis that
价格由复合材料移动 the price is being moved by a composite
男人，他指的是大 man he was referring to big
机构利益大 institutional interests big
机构参与者作为一个综合体 institutional players on as a composite
男人和他会在那期间说 man and he would say that during the
累积交易范围或 accumulation trading ranges or
合并复合男人会 consolidations the composite man would
倾向于积累这个话题 be inclined to accumulate this talk and
一旦保留了大位置 once the preserve the big position is
建立是观点 established and was the perspective in
未来对改进的看法 the future perception of the improvement
因此市场的基本因素 of the fundamental factor so the market
条件价格将被标记 conditions the price will be marked up
离开这个区域，它将开始 out of this area and it will start
趋势结束后趋势结束 trending and then once the trend is over
并且条件已经改变或者 and the conditions have changed or the
感知会发生变化 perception is going to change in the
未来的复合运营商 future the composite operator the
复合材料的人将开始卸载 composite man will start unloading the
位置，因此分发 position and therefore distribute the
库存价格较高 stocks at their higher price levels so
我们的目标是为什么棺材和贸易商 our goal as why coffins and as traders
只是为了能够识别这一点 on is just to be able to identify this
积累或分配的领域 areas of accumulation or distribution
我们想了解它们是什么 and we want to understand what they are
这是一个积累还是一个 is this an accumulation or a
分配我们也想了解 distribution we want also to understand
当确切的价格出来的时候 when exactly the price is going out of
这种积累让我们想找到 this accumulation so we want to find
上某种计时机制 some kind of timing mechanism to get on
早期的趋势，然后能够 the trend early arm and then to be able
只是为了保持整个趋势，直到 just to stay with the whole trend until
我们就在这里进入了分销区 we hit the distribution area right here
所以要这样做 so to do that
为什么要在选择过滤器上使用 why covered use on the selection filters
第一个过滤器总是关于 the first filter is always about the
市场所以我们想了解什么 market so we want to understand what the
市场正朝着什么方向发展 market is doing what direction the
市场正在发展，我们想要 market is going right now and we want to
从不同的时间了解它 understand it from the different time
框架长期中间和短期 frames long term intermediate and short
长期再之后，我们会去上 term then after that we would go on to
不同的选股过滤器之一 different on stock selection filters one
他们将成为结构性的 of them is going to be the structural
过滤所以结构过滤器是 filter so the structural filter is
基本上嗯看着 basically um looks into the
巩固是否积累 consolidation whether it's accumulation
关于分配我们会做的 on the distribution and we would do the
相位分析或维卡点分析 phase analysis or weikath point analysis
这基本上告诉我们 which basically tells us
我们处于交易范围内， 所以我们会这样做 we are in the trading range so we would
如果我们处于C阶段，那就说吧 say that let's say if we're in phase C
我们正在对供应进行测试 we are testing on the supply at the
支持水平和价格准备好了 support levels and the price is ready to
离开交易范围或至少离开 leave the trading range or at least to
在交易范围内做标记 do the markup through the trading range
我们也会看看比较或 we would also look at the comparative or
相对强度过滤器将有所帮助 relative strength filter which will help
我们确定的股票， us to identify the stocks that
可能会跑赢或 potentially will outperform or
在下一个趋势向上或向下表现不佳 underperform in the next trend up or in
下行趋势 the next trend to the downside
我们也会寻找确认 we also would look for the confirmation
供应和需求作为过滤器 的 of the supply and demand as a filter to
确认我们拥有这个跳板 confirm that we own this springboard
这个跳板是的位置 this springboard is the position of the
股票吸收的股票 stock where the stock has absorbed the
供应它正在创造更高的高点 supply it's making the higher highs
更高的低点，它准备离开 higher lows and it's ready to leave the
交易范围和进入专业 trading range and go into the major
趋势所以这意味着过滤器和这个 trend so this means for filters and this
有点像非常简化 is kind of like a very simplified
看看Wyckoff将如何做的方法 approach of looking at how Wyckoff would
通过选择机制 go through the selection mechanism
好的，让我们来看看这个案例研究 alright so let's look at this case study
我们这是一张Home图表 that we have this is a chart of Home
仓库和这是一个月度图表所以 Depot and this is a monthly chart so for
那些是盘中交易者或者 those of you who are intraday traders or
摆动交易者这也是相关的 swing traders this is also relevant to
因为你的时间框架也是如此 on to your time frame as well because
这种结构还是巩固了 this structure or the consolidation the
交易范围总是会有的 trading range always going to have the
同样的原则背后是如何存在的 same principles behind of how it's being
构建或具体点是什么 constructed or how specific points are
将要测试或应该发生什么 going to be tested or what should happen
价格走出交易后 after the price moves out of the trading
范围等等等你可以 range and so on and so forth so you can
在任何一个中应用相同的原则 apply the same principles in any of the
时间框架，所以我们的案例研究 time frames so for our case study we
将会看到这个最新的交易 will be looking at this latest a trading
范围这有点像一个非常小的 range this is kind of like a very small
交易范围就在Home Depot trading range right here in Home Depot
如果这个交易范围在 if this trading range was are in
2013/2014 2013/2014
又一次，我们要看看 and again we're going to look at the
首先是市场方向性偏见，我们是 market directional bias first and we're
去看亲戚 going to look at the relative
比较实力，我们将会看 comparative strength we're going to look
在交易范围的结构 at the structure of the trading range
我们要看看供应情况 and we're going to look at the supply
并要求所有这四个过滤器都是 and demand if all those four filters are
那时候要回家检查我们 gonna checked out for us on then Home
仓库肯定会成为其中之一 Depot definitely is gonna be one of
那些我们会考虑的股票 those stocks that we would consider at
这一点你知道建立 this point you know to establish the
好的位置让我们看看吧 position in all right so let's look
首先是在市场定向 first at the at the market directional
偏见如此，这是非常普遍的 bias so and this is a very common
你从客户那里得到的问题 question you know from clients and
学生们，他们了解如何 students that they get on as to well how
我是否定义了市场方向偏差？ do i define a market directional bias in
换句话说，目前的趋势是什么 other words what is it the current trend
我会趋势，或者我们正在趋势 I'll be trending up or we're trending
我们正横着走， 所以嗯 down and we're going sideways so um
肯定有很多工具 definitely there are quite a few tools
你可以使用，我实际上使用 that you can use and I use on actually
几个工具不仅仅是一个，但我会 several tools not just one but I'm gonna
给你一个非常实用的非常简单 give you a very practical very simple
非常直观的工具，你可以使用和 very visual tool that you can use and
请记住上衣和 please remember that the tops and the
底部例如像2008年2009年 bottoms like for instance in 2008 2009
它们不会在一夜之间发生 they don't happen overnight they it
交易的人需要时间 takes time for those on trading
结构发展所以你有足够的 structures to develop so you have plenty
时间让它想出来 of time to make that to come up with the
为市场定义这么容易 definition for the market so that easy
我想给你的工具是我 tool that I want on to give you is I
希望你看看这个供应或 want you to look at both this supply or
数量和价格结构是什么 the volume and the price structure what
正在发生的事情是高点和高点 what's happening on was the highs and
低点 ，这大概是一个 the lows and this is probably one of the
简单的工具，我在这里看到 simplistic tools so as I see here there
是一个突破的下行和供应 is a break to the downside and supplies
量增增加有 increase in volume is increasing there
没有后续行动，因为有一些 is no follow-up after that there is some
那种反弹的失败然后 kind of failure of the rally and then
在这个领域之后还有另一个突破 after this field there is another break
向下， 它也有一个 to the downside and it also has an
增加供应，所以我们在 increase of the supply so we are in
我们正在制造的生活环境 living environment where we're making
较低的低点和较低的供应量 lower lows lower highs and supply is
增加 increase
在下来的路上- 这就是 on the way down so - this is the
熊趋势的定义，这是 definition of the bear trend and this is
一个非常传统的技术分析 a very conventional technical analysis
改变下行趋势的定义 definition of the downtrend to change
我们需要对此进行跟进 this we need a follow-through on the
集会，然后我们需要收缩 rally and then we need a contraction of
供应所以我们只是在寻找 the supply so we're just looking for
那种性格变化我们 that type of the change of character we
看到下一次试图上升 see that on the next on attempt to go up
价格钢在我们的崩溃上失败了 price steel fails on on the breakdown we
再次看到供应的增加 see the increase of the supply again
然后在下一次分解时我们看到了 then on the next break down we see that
价格下降但供应合同 the price goes down but supply contracts
所以有一些变化 so on there is some kind of change
已经，但我们仍然是价格明智的 already but we still price-wise is not
做得好，然后才打破 doing well and then only after breaking
这个高我们已经得到了很多证实 this high we have a very much confirmed
主要趋势变化，这是我的地方 major trend change and this is where my
小牛会把注意力集中在 calf would concentrate his attention on
他会选择股票 the selection of the stocks he would
也进入了定义 also go into the definition of the
交易范围本身和一些 trading range itself and some of the
职位将在之后的早期开放 positions will be opened early on after
这很慢，你知道那会是 this slow and the you know that would be
被视为春天和价格 considered as a spring and as the price
在标志中经历交易范围 goes through the trading range in a sign
力量但很简单 of strength but in the very simple
机械术语你可以定义一个变化 mechanical terms you can define a change
像这样的人物， 那么呢 of character like this so what about the
当前的市场和正在发生的事情是 current market and what is happening was
目前市场我们有一个 the current market well we had a
中国的供应量大幅增加 significant increase of the supplies in
2010-2011没有重大意义 2010-2011 there was no significant
增加供应量，我会告诉你 increase of the supply and I'll show you
在2013年的下一张图表14或15 on the next chart in 2013 14 or 15
价格方面，我们仍然在做更高的价格 price-wise we're still making the higher
高点和高点，所以没什么 highs and higher lows so nothing really
自2009年以来，我们已经改变了 has changed our since 2009 and this is
陶氏目前的情况 the current picture of the Dow
工业，我们在这里看到了什么 Industrial and what do we see here
我们不得不问的问题 the questions that we would have to ask
我们自己就是长期的 ourselves is what's what's the long-term
中期和短期趋势如此 intermediate and short-term trend so as
我在看这幅画，并再次 I'm looking at this picture and again
这是一个非常简单的视觉工具我 it's a very simplistic visual tool I
知道我们最有可能在一个 know that we are most likely in a
世俗的牛市与高位 secular on bull market with the high
我们在高点和高点 highs and higher lows we are in the
中间上升趋势和短期我们 intermediate uptrend and short term we
正在巩固没有任何 are consolidating there is no any
结构性损害的显着性 structural damage on of the significant
更高的低点，最后是什么 higher lows so what are the last
该区域的低点明显偏高 significant higher lows well this area
就在这里okto下面然后 is right here okto below and then
12月普遍低点就在这里 December general lows right here
没有真正重要的供应或 there is no really significant supply or
2011 年后增加供应量 increase of the supply after 2011 2010
我们实际上都收缩了两者 we actually have contraction of both
供需现在又是另一种常见的 supply and demand now another common
我通常回答的问题很好 question that I usually answer is well
为什么价格实际上如此提升呢？ how come the price actually advanced so
你知道的很多没有需求 much you know without the the demand
增长很好它只是一个功能 increasing well it's just a function of
供应如果供应低，那么供应 the supply if supply is low then the
现在价格肯定会上涨 price can definitely travel up so now
我们已经确定市场在上涨 that we've defined that the market is up
十月份的低点将是我们的 and October low is going to be of our
您对案例研究的兴趣 interest you know for the case study
我们要进入比较 we're gonna go into the comparative
相对分析所以这就是图片 relative analysis so this is the picture
Wyckoff实际上看起来如何100 of how Wyckoff would actually look 100
多年前的比较实力 years ago at the comparative strength
分析他会放一个图表上 analysis he would put one chart over
另一个他会说这个话题 another he would put this talk and then
让我们说一个市场代理或一个行业 let's say a market proxy or an industry
小组，他会分析 group and he would analyze the
显着的高点和显着的低点 significant highs and significant lows
在这两个之间的斜坡所以 in this slope between those two so for
实例就在这里，我可以看到 instance right here I could see that
从这个流程到这个法律比较 from this flow to this law comparatively
斜坡可能会有利于此 the slope might be on in favor of this
更深入地谈论家庭，我可以看到 talk of the home deeper and I could see
有某种力量 that there is some kind of strength
就在这里 right here
现在我们当然可以使用更现代的 now of course we can use more modern
你知道做同样分析的工具 tools you know to do the same analysis
这是de Leon家庭仓库和 and this is the de Leon home depot and
这是 我们 的训练范围 this is the training range that we're
去看看 going to look at
我们在这次交易中看到了这一点 and we see that during this trading
范围相对强度和 range the relative strength and the
这不是相对的力量 relative strength this is not the
相对强度表明这是 relative strength indicate that this is
实际上相对强度比是在 actually a relative strength ratio is in
下跌趋势因此相对强势 the downtrend so relative strength by
本身作为价格也可以趋势和 itself as the price also can trend and
了解它是非常重要的 it's extremely important to understand
这个概念并实际想到 this concept and to actually think of
相对力量作为你的工具 relative strength as the tool that you
可以在趋势分析如此用用 can use in your trend analysis so with
我们一直在寻找变化的趋势 the trends we always look for the change
性格如此，例如破 of character so for instance the break
趋势或相对强度线 of the trend or relative strength line
花更多的时间在移动之上 spending more time above the moving
这是 平均更高的高点 average higher highs higher lows this is
表明改进了 an indication of improvements of
提高相对强度和 improvement in the relative strength and
这是我们想要从中看到的 this is what we want to see from the
开始我们想要选择所以Home start that we want to select so the Home
仓库行为绝对在这里呈现给我们 Depot act definitely presented us here
基于的选择很棒 with a great selection based on the
相对强度和比较 relative strength and on the comparative
现在当你做这种类型的力量 strength now when you do this type of
分析和我做这种类型的时候 the analysis and when I do this type of
分析我总是看着 the analysis I always look at the
改进的排名 improvement in the ranking of the
不仅仅是股票的相对强弱 relative strength for not just the stock
而且对于行业组织和 but also for the industry group and for
该行业组的同行和我 the peers in that industry group and I
我们可以从热图上看到这里 could see here from the heat map that we
我们的排名正在提高你知道吗 are our ranking is improving you know
从这一点到这个高我们去了 from this point to this high we went
从77到7的排名， 这是一个 from the ranking of 77 to 7 so that's a
很好的改进我正在看 great improvement I'm looking at the
这个行业组织也在做同样的事情 industry group on na it's doing the same
事情有改善了 thing there is improvement in the
行业集团这样才刚刚确认 industry group so that just confirms
同行们正在追随诉讼 that the peers are following the suit
并且有某种专题 and that there is some kind of thematic
Albine正在大肆宣传 Albine that's going on on by big
大机构的利益可以 interest by big institutions all right
一旦我们做到了，我们就会看到 once we've done that and we see that the
相对强度和比较 relative strength and the comparative
力量对我们来说是我们想看的 strength is there for us we want to look
在结构分析现在为什么咳嗽 at the structural analysis now why cough
已经开发出了整个方法和 has developed the whole method and to
如何看待巩固 how to look at the consolidation of
当然，我们 course we
我们不能真的去参加这个会议 with this session we can't really go
进入细节，但基本上是想法 into the details but basically the idea
当他看着巩固他的时候 was as he looked at the consolidation he
想知道停在哪里 wanted to understand where the stop in
行动发生在上一个趋势中 action happens from the previous trend
建立事业的地方 where the building of the cause happens
你的哪一部分知道 you know in what part of the
合并在哪里进行最终测试 consolidation where the final test
发生在测试中，让我们说 happens on testing let's say in the
积累以前的流量和 accumulation the previous flows and
在支持级别测试供应 testing that supply at the support level
和期间的初始标记 and where the initial markup during the
在交易范围内然后是 within the trading range and then the
超出交易范围的标记发生 mark up out of the trading range happens
如果我们能够确定那些阶段和 if we can identify those phases and
合并中的那些事件我们可以 those events in consolidation we can
建立一个 像我一样 的位置 establish a position in what like I've
区域调用所以这一切都在这里 called by zone so all of this right here
是一个购买区，所以我们想购买 is a buy zone so we want to buy as the
价格标记正在标出 price mark is being marked out through
交易区间然后稍微出局 the trading range and then slightly out
让我们来看看我们的案例研究Home so let's look at our case study Home
仓库在这里这是每周一次 Depot right here this is the weekly the
相同的交易范围，但只是每周我们 same trading range but just weekly we
有这个表与行动 have this table in action with the
高潮行动就在这里阶段性的 climactic action right here phase a the
阶段a的意图总是停止 intention of phase a is always to stop
目前的趋势然后进入 the current trend and then to go into
合并或者只是扭转 the consolidation or just to reverse the
我们正在 逐步建立核心的趋势 trend we are building the cores in phase
B最终测试发生在C阶段 B the final test happens in phase C as
最后一点支持而不是 the last point of support and don't
担心语义的秒杀你 worry about the spike of semantics you
知道你是否想要学习更多 know if you want to study those more
你知道 这绝对是一件很有趣的事情 it's definitely a lot of fun you know to
确定那些阶段和那些古怪的 identify those phases and those wacky
事件和语义将是 events and the semantics are going to be
我们很容易找到那个标志 easy for you we're looking for that sign
在第一个标记上的力量 of strength on the first mark up out of
稍稍 偏出 盘整区间， slightly out of the trading range and
培根上一次行动 the bacon up action to the previous
X现在支持的阻力如此 resistance that X now is support so
一切都在这里等着在这 everything is here for us in this
交易范围在2014年10月之前 trading range on in by October of 2014
在结构上这是一个很大的检查 structurally so that's a big check for
我们所以相对实力是好市场 us so relative strength is good market
很好，我们处于正确的结构 is good we are at the correct structural
位置让我们来看看供应和 position let's look at the supply and
需求 demand
是最后的信息所以这是 is the last information so this is the
通常他们给我的幻灯片 slide usually that they give to my
学生作为提醒用品的提醒 students as a reminder of what supplies
我们可以拥有的签名 signatures we can have in the
累积我只是想跳过这个 accumulation I'm just gonna skip this
幻灯片，只显示相同的原理图 slide and just show this same schematics
我们在这个交易范围内 here under this trading range that we're
看着，一般我们看看 looking at and generally we look at the
结构，我们希望看到什么供应 structure and we want to see what supply
在这个结构中让你知道 is doing you know during this structure
我们看到供应正在进行 and we see that the supply is on
逐渐地，持续地减少 gradually and consistently decreasing
从阶段a到阶段C，这是什么 from phase a to phase C and this is what
我们希望看到我们看到吸收 we want to see so we see the absorption
通过这个整体供应 of this supply through this whole
在我们看到更高的结构 structure in the once we see higher
这绝对是高点和高点 highs and higher lows this is definitely
我们要去的地方想的地方 the place where we're going to want to
变得非常活跃，我们不是 become very very active in our we're not
只是选择但考虑开放 just a selection but considering opening
位置没事 ，并把所有 the position all right and putting all
现在我们一起去了 of these things together now we went
通过我们定义的市场结构 through the market structure we defined
市场偏向在10月低点我们 the market bias at the October low we
长期上涨趋势中间 had long term trend up intermediate
短期趋势是一种反应 trend up short term it was a reaction
这很棒 which is great
因为在反应期间这是 because in during the reactions this is
在这里我们要激活这是哪里 where we want to be active this is where
我们希望使我们的选择，这是 we want to make our selection this is
在这里我们要查找的股票， where we want to find the stocks that
在那期间会变得更强大 are going to be stronger during that
反应比市场还是那么 reaction than the market or then the
然后是同伴，然后我们进入了 then the peers then we went into the
比较相对强度分析 comparative relative strength analysis
我们定义了我们找到的力量 we defined that strength we find we
找到了改变的确认 found the confirmation of the change of
我们相对力量的性格 character on the relative strength we
通过什么证实了实力 confirmed that strength by what the
同行业同行和我们一样 industry peers are doing as well then we
进入结构分析和我们 went to the structural analysis and we
说好，这是我们的阶段和 said ok well here is our phases and
从结构上讲，我们处于最佳状态 structurally we are at the great point
我们是在一个重大进展之前， we are before a major advance in that of
价格和之后我们刚刚确认 prices and after that we just confirmed
这就是供求关系 that was the supply and demand there was
绝对是对供应的吸收 definitely an absorption of the supply
是的 was the
高点和高点低点和阶段D和 highs and higher lows and phase D and
这就是我们想成为的全部 this is where we want to be so all of
我们检查过的那些过滤器就是这样 those filters we've checked and that's
基本上是一个非常简化的看法如何 basically a very simplified view of how
使用Wycoff方法我们会做 using the Wycoff method we would make
我们的选择现在肯定有 our selection now definitely there are
如此多的工具和技术原则 so many tools and techniques principles
我们真的要使用和规则 and rules that we really have to use for
这里的每个过滤器都是这样的 each of the filters here and this is
主要是我们对你的研究 primarily the studies that we have you
知道什么时候，当我们经过 know when we when we go through the
方法的重击， 但非常简单 whack of method but in a very simplistic
术语这是选择过程 terms this is the selection process that
我今天想给你看 I just wanted to present to you today
和马克，我认为就是你知道我 and Mark I think that's it you know I
认为我是我在正确的时间，所以如果我们 think I'm I'm on time right so if we
有任何问题， 你知道我会 have any questions you know I'll be
很高兴招待罗恩谢谢你 happy to entertain Roman thank you so
非常适合加入我们，如果有的话 much for joining us and if anyone does
有任何问题随时输入 have any questions feel free to type
他们现在，我会读他们 them in right now and I will read them
罗马因为我们确实有一对 the Roman because we do have a couple
分钟还剩 minutes left
你有关于你的任何信息吗？ do you have any information about your
网络和细胞信号是什么 web and what would be the cell signal
好吧 all right so
和我们也想要的购买信号一样 as was the buy signal we also would like
看到某种最重要的信息 to see some kind of top information so
这将是一个分配形式我 that would be a distribution formation I
没有幻灯片的原理图 don't have the schematics of the slides
在这个形成，但让我们采取 on this formation but let's just take
这个例子就在这里，这是怎么回事 this example right here and this is how
我通常甚至想跟我说话 I usually would even like talk to my
学生或我的客户所以我们看到了什么 students or my clients so what do we see
这里是从这里的低点来的 here from this lows right here from
C阶段我们已经建立了上升趋势 phase C we have an established upswing
所以这里最大的反应是 so the biggest reaction right here is
可能是十月份的反应吧 probably this October reaction right
在这里，我会寻找这种类型 here so I would be looking for this type
对我的反应考虑一些 of the reaction for me to consider some
一种短期的加入 kind of short term on add into the
如果这个反应会超过这个位置 position if this reaction will exceed
这是以前的反应 the previous reaction this is going to
这是一个很重要的标志，这是一个 be a big sign right here this is a
性格的变化，也在 change of character and also on the
我希望看到相对的力量 relative strength I would want to see on
某种反应的是要 some kind of reaction that is going to
大于让我们说这个或 be larger than let's say this one or
这个 this one
等等任何类型的字符的变化 so any type of change of character on
我们经历过的任何过滤器 any of the filters that we went through
将是你知道退出的关键标志 would be the key sign you know for exit
我们会关注供应力量 for the supply forces we would look at
我们所有的物资签名 all of the supplies signatures that we
在路上，我们想要看到没有 had on the way up and we want to see not
只是价格突破，但 just the price break but the
电源的确认等方面加大 confirmation of the supply so increase
这种供应会是什么 of this supply something that would be
比这更大所以这个就在这里 larger than this so this right here
它会遵循我的四个分析吗？ would it follow the four analyses I'm
对不起再说它会跟着这四个 sorry say again would it follow the four
分析我们尝试分析Wycoff analyses the we try analysis the Wycoff
分析其中的四个你知道什么 analyses the four of them you know what
我只是说角色的变化是的 I just said the change of character yeah
绝对你知道我真的花了一个 definitely you know I actually spend a
很多时间和学生一起 lot of time with students just
只行单一原则 exercising that just single principles
性格的变化是极其重要的 the change of character is extremely
很重要，因为一旦你看到了 important because once you see that
有一些变化 there is some kind of change of
你知道有一个角色 character you know that there is a
因此从培训中改变环境 change of environment so from a training
环境你可以进入非培训 environment you can go into non training
环境还是你可以去柜台 environment or you can go to the counter
训练环境有点像 training environment so kind of like the
同样的概念在这里退出 same concept here where is the exit
指出你想要找到的地方 point well you want to find where is
这种性格的改变将会发生 this change of character is going to
来，你知道你可以找到它 come and you know that you can find it
在价格行动中你可以找到它 in the price action you can find it in
您可以找到供需签名 the supply-demand signature you can find
它在相对强度上 it on the in the relative strength a
签名以及我希望我回答 signature as well I hope I'm answering
这个问题我没有完全理解 this question I didn't fully understand
问题我有两个问题 the question well I have two questions
请你重复一下你的电子邮件 would you please repeat your email
再次联系信息，你呢 contact information again and do you
有一个个人网站肯定所以我的电子邮件 have a personal website sure so my email
是gck的Wyckoff员工 is Wyckoff associates at gmail.com
如此反复，如果你想收到的 so again if you'd like to receive the
这个演讲Oya的幻灯片 slides of this presentation Oya
信息邮件我，我很乐意发送 information email me I'll gladly send
幻灯片给你 the slides on to you
这个网站也在这里为什么咳嗽 also this website right here why cough
分析dot-com 我们刚刚启动它 analytics dot-com we just launched it so
它仍然是在有点像beta测试 it's still in kind of like beta testing
但肯定有信息 but there is um definitely information
在所有课程上这是 on all of the classes this is the
网站就在这里所有的课程 website right here so all of the classes
我放在三月和四月 that we have in March and April I put
他们在这里，所以你可以浏览你 them in here so you can browse and you
知道你的朋友是否有 know see if there are in your friends
你想要的 that you would like to
参加过非常感谢你的漫游 participated thank you so much roaming
恐怕我们都没有时间了，现在我只 I'm afraid we are out of time now I just
再次感谢你加入我们 want to thank you again for joining us
并感谢大家的参与 and thanks to everyone for attending
今天 today