cOMPLETe method of Wyckoff. LEst see ON AR zone if it continues to goes down, I see wick on 1hr candle that makes red.
the 3 candles that makes green it means price still ranging, now its time for shorts buyers!
Trade base on your own decissions.
Thanks to all. if you like my Ideas give a like or suggest. Thanks to new followers for more analysis check me out.
I hunt liquidity on how market makers works. I trade only liquidity happens, if pairs not forming liquidity it means your the liquidity. becareful guys,,
I agree with your charting idea in its general idea.
Where you have the Buying Climax(BC) marked, I have Micro wave 3 in EW marked up. Then a bullish symmetrical triangle follows as a Micro wave 4 of which the low of wave A within the corrective triangle would be marked as AR(Automatic Reaction) This low defines the lower boundary of the distribution TR(Trading Range).Where you marked ST(Secondary Test) is the peak of wave B within the symmetrical triangle. Then I marked the following high after the thrust out of the bullish symmetrical triangle as Micro wave 5 completing subminuette wave 3. This higher high in the Wyckoff method is marked as UT(Upthrust). The following higher high I have marked as wave B in an expanding flat where you have marked UTAD(Upthrust After Distribution), of which according to the Wyckoff method is, and I quote: "UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts". Quoted from Wyckoff Analytics dot com.
The resistance lines should be drawn horizontally from the high point marked BC(my EW Micro wave 3), and the other should be drawn from the high marked as UT(my EW micro wave 5)
Furthermore , there has been no SOW(Sign Of Weakness) in phase B, it should manifest in phase D. That being said, the sign of weakness has appeared in EW.
That being said, I also agree with your target zone, an EW subminuette wave 4 correction target in minuette/minute wave 3 fits that price zone.
In conclusion, a last quote from Wyckoff Analytics of what occurs in a distribution Phase C:
"Phase C: In distribution, Phase C may reveal itself via an upthrust (UT) or UTAD. As noted above, a UT or UTAD is the opposite of a spring. It is a price move above TR resistance that quickly reverses and closes in the TR. This is a test of the remaining demand. It is also a bull trap—it appears to signal the resumption of the uptrend but in reality is intended to “wrong-foot” uninformed break-out traders. A UT or UTAD allows large interests to mislead the public about the future trend direction and, subsequently, sell additional shares at elevated prices to such break-out traders and investors before the markdown begins. In addition, a UTAD may induce smaller traders in short positions to cover and surrender their shares to the larger interests who have engineered this move."
GREAT JOB Keno1989, all the best!
noble1ones
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@noble1ones, Correction to this part: The following higher high I have marked as wave B in an expanding flat where you have marked UTAD(Upthrust After Distribution:
CORRECTION:My EW expanding flat wave B is at the most recent high on the hourly chart Tuesday Jan 17 2023 as my recent updated posted chart indicates.
keno1989
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@noble1ones, Lets see if price break the upper thrust distribution or our AR zone at a key level 20600-20500, im watching that zone, and this idea already being update, I have new analysis about it, Thank you
noble1ones
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@keno1989, I posted a Wyckoff idea too today. Now watching Bearish smaller time frame patterns develop and break down to the down side among which are, an inverted exotic dragon pattern, an inverted cup & handle , an inverted J hook..... All the best!
keno1989
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@noble1ones, Agreed but becareful, lets break first the 20500-20600 zone, thats a key level on bearish side, if that price still not break i dont recommend shorts. Thnks for your suggestion I really appreciate it.
noble1ones
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@keno1989, No worries, EW(Elliott Wave) is a leading principle, it leads the Wyckoff method.........
noble1ones
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@keno1989, Three outside down candlestick pattern formation on the hourly
keno1989
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@noble1ones, lets see , still not convince on lower time frame, No confirmation on higher timeframe No trades, if your a scalper much better. My key lvl on Bear is 20500-20600 area, thats lvl must break firtst.
noble1ones
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@keno1989, All is looking good. Inverted C&H target reached. Inverted Exotic dragon pattern target reached(Head zone) Double high projected low target reached.......... Now awaiting to see if inverted bearish 'Bowl' will become an inverted bearish J hook! I think it will, Yeeeee Haaaa, it did that on the daily time frame, right up to the daily Exotic Dragon Pattern's target zone/head. I called that one too!
keno1989
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@noble1ones, ARE you still alive brother? no shorts if no confirmation. like multiple break outs..hehe. I hope you learn on your charts. DOnt just do 1hr timeframe do higher timeframe like 4hr or daily. Well thanks for your contribution on this.
Where you have the Buying Climax(BC) marked, I have Micro wave 3 in EW marked up. Then a bullish symmetrical triangle follows as a Micro wave 4 of which the low of wave A within the corrective triangle would be marked as AR(Automatic Reaction) This low defines the lower boundary of the distribution TR(Trading Range).Where you marked ST(Secondary Test) is the peak of wave B within the symmetrical triangle. Then I marked the following high after the thrust out of the bullish symmetrical triangle as Micro wave 5 completing subminuette wave 3. This higher high in the Wyckoff method is marked as UT(Upthrust). The following higher high I have marked as wave B in an expanding flat where you have marked UTAD(Upthrust After Distribution), of which according to the Wyckoff method is, and I quote:
"UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts". Quoted from Wyckoff Analytics dot com.
The resistance lines should be drawn horizontally from the high point marked BC(my EW Micro wave 3), and the other should be drawn from the high marked as UT(my EW micro wave 5)
Furthermore , there has been no SOW(Sign Of Weakness) in phase B, it should manifest in phase D. That being said, the sign of weakness has appeared in EW.
That being said, I also agree with your target zone, an EW subminuette wave 4 correction target in minuette/minute wave 3 fits that price zone.
In conclusion, a last quote from Wyckoff Analytics of what occurs in a distribution Phase C:
"Phase C: In distribution, Phase C may reveal itself via an upthrust (UT) or UTAD. As noted above, a UT or UTAD is the opposite of a spring. It is a price move above TR resistance that quickly reverses and closes in the TR. This is a test of the remaining demand. It is also a bull trap—it appears to signal the resumption of the uptrend but in reality is intended to “wrong-foot” uninformed break-out traders. A UT or UTAD allows large interests to mislead the public about the future trend direction and, subsequently, sell additional shares at elevated prices to such break-out traders and investors before the markdown begins. In addition, a UTAD may induce smaller traders in short positions to cover and surrender their shares to the larger interests who have engineered this move."
GREAT JOB Keno1989, all the best!