3 Possible Scenarios; 2 of Which Are Distribution Schematic &...
... the Red one is an Accumulation Schematic. Pasting the chart again below for it to be viewed as intended without being scrunched up by the platform:
The indicators are still pointing towards upward pressure currently; just as I have posted in the following publication:
Just as I pointed out in the Red Text Bubble in the cover chart for this publication; if we follow the Red Lines drawn on the chart, this will imply we had a "Selling Climax" instead of a "Sign of Weakness" when we went down to 0.060108 USDT on Binance. Which would mean the rally up to the 1.618 FIB would be considered an Automatic Rally in Phase A of an Accumulation Schematic rather than an "Up Thrust" in a Distribution Schematic. If it does peak at the 1.618 FIB, it will depend how far we drop down as to whether we are in an Accumulation Schematic. It could simply be a brief pause (small consolidation event) of a LARGE "Up Thrust" of a Distribution Schematic. We'll know more as price action plays out.
Added a couple of Red Text Bubbles to identify events "IF" it were to play out as an Accumulation Schematic:
The indicators are still pointing towards upward pressure currently; just as I have posted in the following publication:
Just as I pointed out in the Red Text Bubble in the cover chart for this publication; if we follow the Red Lines drawn on the chart, this will imply we had a "Selling Climax" instead of a "Sign of Weakness" when we went down to 0.060108 USDT on Binance. Which would mean the rally up to the 1.618 FIB would be considered an Automatic Rally in Phase A of an Accumulation Schematic rather than an "Up Thrust" in a Distribution Schematic. If it does peak at the 1.618 FIB, it will depend how far we drop down as to whether we are in an Accumulation Schematic. It could simply be a brief pause (small consolidation event) of a LARGE "Up Thrust" of a Distribution Schematic. We'll know more as price action plays out.
Added a couple of Red Text Bubbles to identify events "IF" it were to play out as an Accumulation Schematic:
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Pardon me but I wanted to add one more Red Text Bubble:
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Purple and Black Lines are two possible scenarios for a Wyckoff Distribution Schematic with Black Text Bubbles to identify the events of a Distribution Schematic. I've included an image of my Cardano/USDT chart with an EXAMPLE of a Wyckoff Distribution Schematic in the lower righthand corner for comparison: i.imgur.com/dDy488t.png
Red Lines and Red Text Bubbles identify the possibility of a Wyckoff Accumulation Schematic. I've included an image of my Cardano/USDT chart with an EXAMPLE of a Wyckoff Accumulation Schematic #1 in lower righthand corner for comparison: i.imgur.com/U1LHA33.png
Red Lines and Red Text Bubbles identify the possibility of a Wyckoff Accumulation Schematic. I've included an image of my Cardano/USDT chart with an EXAMPLE of a Wyckoff Accumulation Schematic #1 in lower righthand corner for comparison: i.imgur.com/U1LHA33.png
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Here's an image of several "Accumulation Schematics." One of particular interest when comparing to Cardano is the Descending Wedge Schematic: i.imgur.com/D1fHpTN.jpg
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I'm estimating $0.0735 to $0.0738 range the lowest for the current drop. Could it drop lower? Yes... Could it not drop this low? Yes...
We "might" have to reconsider current "long term" analysis if we were to drop "substantially" below my "estimated" price range drop.
Here's the 2h (120m) TF:
We "might" have to reconsider current "long term" analysis if we were to drop "substantially" below my "estimated" price range drop.
Here's the 2h (120m) TF:
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Do not lose heart. We're not finished going up by a long shot. This is only brief...
The absolute lowest I see us going here in this drop is $0.0775. My opinion of course... This does not mean we're going this low.
The absolute lowest I see us going here in this drop is $0.0775. My opinion of course... This does not mean we're going this low.
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90m TF shows signs of upward pressure soon:
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Yes, we're going to have some downward pressure AGAIN in the 45 minute TF. See the Red Line making contact with the Green Line WHILE the green line is going down?
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I placed a Purple Vertical Time Line at November 10, 2018 in this 360m (6h) TF. It's possible we may not see upside pressure begin again until November 12. I'm simply seeing November 9th or 10th approximately the soonest. It appears we have a lot of support at $0.075
12h (720) TF:
2-Day TF:
12h (720) TF:
2-Day TF:
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12h (720m) TF:
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6h (360m) TF:
8h (480m) TF:
12h (720m) TF:
Daily (1440m) TF:
8h (480m) TF:
12h (720m) TF:
Daily (1440m) TF:
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2.73% risk on your stop loss if you place it where I have it now just below the 0.382 FIB. It's fine if you want to wait longer to see if you can get in lower. Up to you... Or you can spread out several orders within my stop loss price range.
