Bears can play the Wyckoff hype too... Looks bad ? So does the accumulation one.
Too many people using the wyckoff accumulation pattern in a very wrong way these days. Maybe they are right, maybe not. If they are, Spring will happen soon as we are squeezed and I will join at almost the same price. My point here is more that if you are desperately looking for patterns, they will appear to strengthen your bias. Traders need to focus on what they see, and not what they hope, and seize opportunities
Note : I don't think we are in a Wyckoff accumulation yet, not do I give a lot of credit to this Wyckoff distribution either. Just warning people of false hopes
Excellent point. You can try to fit the current movements into a Wyckoff distribution or accumulation, but the fact is, the only time you can state with any certainty that it's in either one of those is once you identify phase D (the phase before the markup/markdown, where the sign of weakness/strength occurs). Only then the previous phases become clear, and there's still plenty of time to take the trade for longterm in either direction during the phase D.
Nidalas
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@eyupium, Exactly! Better being a bit late, than risking 50% chance of being waaaaaaaaaay too early and get crushed
pkb6698
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I'm always looking at your analysis. thanks for a good idea.^_^
I think CME last trade date on july 28th is a very important day.
I need opinions from various people. What is your view of this?
Nidalas
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@pkb6698, Thanks, i appreciate it!
I have been following you for a while and I love your work. Outside the box thinking. Glad to see you here
Indeed. The crypto sphere has never been the same since December, and has been shaped by the Futures.
pkb6698
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@Nidalas, Thanks^^ I think futures will continue to have a significant impact on the market.