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AussieWyckoff
Jul 4, 2019 12:24 AM

AUD/USD - SECOND DISTRIBUTION PATTERN FORMING - HEADING LOWER? Short

Australian Dollar/U.S. DollarFXCM

Description

A clear second distribution pattern is forming.

We have selling into the moves higher on the recent BC and ST by the looks of the volume.

We are also approaching a re-test of the AR in the first larger distribution pattern.

The downward trend that has formed also indicates a re-test approaching.

Watching this closely for some reversal signals to get into a longer term short trade.

Do your own research and good luck.
Comments
dscrockett
Aussie: Isn't Wyckoff awesome? His concepts are relevant today as back in the early 20th century when he wrote and traded stocks. Screw Buffit, I'd pay $1 million (if I had it) to have lunch with Wyckoff. Keep your ideas coming. Too little stock trading on this site. Need more stocks forget Bitcoin. Keep your Wyckoffian ideas coming. Suggestion, try the 10-year monthly chart because it covers most cycles. It opened my eyes. Best, Yank
AussieWyckoff
@skoutas, Yeah Wyckoff changed my trading. Gave me structure and a better idea of the phases of the market. I will keep looking through charts. Have been very busy lately so had less time. I will check out the monthly.
dscrockett
You might look at the monthly 10-year chart below which may show a different collusion than re-distribution? Automatic reaction after selling climax may signal the start of the accumulation phase?

tos.mx/HqqOS6
DACapitalTrading
Amazing content, keep it up!
AussieWyckoff
@DACapitalTrading, Thank you.
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