You may have seen our last couple of calls & streams. In the idea Video's we have overlaid the chart with the Wyckoff & Elliott schematics behind.
We had several key reasons for why this was distribution and not accumulation. I wanted to share a little glimpse of some of the proprietary tools we have developed for both TradingView and our Discord community.
This one being very relevant, if you take the Buyers Climax (BC), the UT (Up Thrust) and the UTAD (Up Thrust After Distribution). You will see our Wyckoff indicator helps spot the opportunity to short (in this example).
Followed by the indicator being added
The Bitcoin play recently has been a textbook example of the Power of Wyckoff. With Wyckoff schematic range showing
As always to learn more and get a deeper insight, come join our community. Link below.
Have a good evening!
Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Congrats! you perfectly called it! Do you know if a Wyckoff distribution usually trigger a mid-longterm downtrend (is it a trend reversal pattern)? Do you have an idea on the bottoming zone?
Mayfair_Ventures
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@JordanDrapeau, Morning, there's a bit more to it than that. Especially being BTC. Wyckoff only really provides the range and of course the exit from the range.
burakb
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hey good thread, thanks. check @dRends35 wyckoff chart he had this idea in 28th March . Epic call. It may also give an extra aspect.
Mayfair_Ventures
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@burakb, Will do, here's the first call. 18th March 😉 - love it when people are on the same page!
Thank you for sharing!
I have Posted last month :) nice being at the same approach in the end
Mayfair_Ventures
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@karimovmurad97, Awesome, the start of the Wyckoff came pretty early on. Her's the initial post in mid March. As you say, its the end result that's key!
blakajnaim
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@karimovmurad97, you been saying on you chart is going back up to 74k now as i see it no higher then 58k can you comment