NEXT STAGES:
1. Sign of Weakness @ 11100, range low support
2. Upthrust After Distribution @ 11900, H&S distribution resistance. Also parallel ascending channel TL resistance
3. Distribution, LPS, and Major Sign of Weakness at key S/R of 10750
Textbook Wyckoff Distribution so far. Check out this link to a schematic:
google.com/search?q=wyckoff+distribution&tbm=isch&source=iu&ictx=1&fir=546YKOr6hXARLM%2CrUb6T4bfVB6EyM%2C_&vet=1&usg=AI4_-kSGdW036KhLj1R-in6BX-ykjT_S2Q&sa=X&ved=2ahUKEwjY0uaDj8LsAhVKCM0KHYXYB-YQ9QF6BAgKEFY&biw=1440&bih=792
Chart would form a broadening wedge as it evolves and the HTF RSI bearish divergence on the 12H/D would get to play out in time.
1. Sign of Weakness @ 11100, range low support
2. Upthrust After Distribution @ 11900, H&S distribution resistance. Also parallel ascending channel TL resistance
3. Distribution, LPS, and Major Sign of Weakness at key S/R of 10750
Textbook Wyckoff Distribution so far. Check out this link to a schematic:
google.com/search?q=wyckoff+distribution&tbm=isch&source=iu&ictx=1&fir=546YKOr6hXARLM%2CrUb6T4bfVB6EyM%2C_&vet=1&usg=AI4_-kSGdW036KhLj1R-in6BX-ykjT_S2Q&sa=X&ved=2ahUKEwjY0uaDj8LsAhVKCM0KHYXYB-YQ9QF6BAgKEFY&biw=1440&bih=792
Chart would form a broadening wedge as it evolves and the HTF RSI bearish divergence on the 12H/D would get to play out in time.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.