We have been posting more and more in our community around the logic of this move - After the Rocket call on the 18th of March, it's clear to see how respectful the price action has been.
Inside a weekly (3-4) move in terms of Elliott Wave, we have seen a near-perfect example of a Wyckoff distribution play out.
This was shared two weeks ago now, showing the logic and the pattern as it played out. I wanted to post it on TradingView to accompany the Wyckoff videos from earlier this week. When you see it as an overlay - it's now clear professional money is starting to take control.
The assumption of many retail traders is that institutional money flow in = price up, and that is the reason over 75% of retail lose money.
Have a great weekend all!
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.
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Happy with this move and where it decided to rest for now.
nice video! I have been noticing that thing with the wick offs too. it's like the wick is telling you where the price is going to reach atleast, eventually.
Mayfair_Ventures
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@its_easton, Thank you - yes it's interesting to see this instrument turn professional in front of your eyes.
apsnt
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Would you share any other type of analysis at some point? I realize your Wyckoff has been spot on but I'd like if you could investigate the chart using other tools. I'd appreciate that. :)
P.S. your cartoons are also top notch ;)
Mayfair_Ventures
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@apsnt, Thank you - yes we share some of the other stuff in our Discord community. Some of the tools are stand-alone and not indicators that fit into TV (unfortunately) glad you like the cartoons too!