Here are the phases of BTC according to Wyckoff. Pretty neat, uh? It was inside a trading range, and it broke it to the upside completing a SOS that will lead it to create higher highs through a mark-up.
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Downtrend continues. Why would one go long in prevailing downtrend? That is upside down logic for me.
TrickleDownFX
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@Tradersweekly, thanks for sharing man. I would go long anytime before the markup, low leverage, to avoid shakeouts. The retest of the range is the last point to take an entry according to the Wyckoff trading strategy. :)
Tradersweekly
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@TrickleDownFX, Thank you for your response. I preffer to follow the prevailing trend that is why I am short. I think low leverage is very reasonable. Anyways, thank you for sharing too and have a good one!