My first go at doing at mapping out a Wyckoff distribution on an index. Was a bit tricky for me as couldn't find a really obvious end to phase A as the automatic reaction wasn't aligned with subsequent sign of weakness lows. Feedback welcome. Let me know what you think.
On 26/4 price broke through symmetrical triangle in upward trend (continuation). Volume on break was 2.4x of 10 day MA and closing price was 6% away from trend line. Waited one day as break was right near apex and price tested the 10 day EMA, which held as support and signal to enter. Bought @ 1.19 (next support level and below the cradle). Will look to add on if...
22/4 - symmetrical triangle broke with 2.5x of avg. volume. 10K shares long with a SL just below the cradle at 0.88. tp1 - 1.35 (52 week high), tp 2 - 1.49 (distance from top to bottom of pattern + breakout price).
Descending triangle has formed as part of larger down trend/symmetrical triangle going back to OCT20. Base was broken on 20/4 and the shorter term support was breached on 21/4 with backtest without volume on 22/4. Short at ~8.68 with SL at 8.95 (4c above the 10 EMA and above the base of descending triangle). Start with half size and when further breakdown on...
15th April - Price broke out of triangle on 14/4 with volume 2x of previous 5 day MA. Waited for a pullback and long for 3K at 2.44 (days low was 2.41), SL at 1.99, which is the base of the last consolidation. Once price moves above 2.55 will tighten stop.
16th April: Ascending triangle was broken on the 8/4 and long term down trend has been pierced and has held as a support although there was a touch back on the 14/8 (closing price still above). Long @ 15.81 with SL @ 15.28 (1 tick below the horizontal line on the ascending triangle).
Descending triangle broke through with conviction on 24th March. Short term target = to the distance of the leg to base. Considered a head and shoulders, which would be even more bearish but didn't think the right shoulder had formed sufficiently (please let me know if you see different). With high yields, dropping oil prices and HK economy stalled can't see a...
Short term ascending triangle pattern forming but on low volume with RSI moving lower. Will need a strong move on volume to keep this level. Wait and see.
