ProwdClown
Long

ZECUSDT - Poloniex - Wyckoff Accumulation Schematic #2:

POLONIEX:ZECUSDT   Zcash / Tether USD
I've copied and pasted this chart below for easier viewing and reading of text bubbles:



Image of Wyckoff Accumulation Schematic #2: https://imgur.com/945poSJ

Link to "Basic" overview of Wyckoff Methods: http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method

I left question marks on LPS             just incase we have not seen our last point of supply.

Our current Phase within the Schematic is Phase "C." The following is VERY HELPFUL INFORMATION IN REGARDS TO PHASE C:

PHASE C: It is in this phase that the price goes through a decisive test of the remaining supply, allowing the “smart money” operators to ascertain whether the coin is ready to be marked up. As provided in "NOTE" below, a spring is a price move below the support level of the Trading Range ( TR             ) established in phases A and B that quickly reverses and moves back into the Trading Range ( TR             ). It is an example of a bear trap because the drop below support appears to signal resumption of the downtrend. In reality, though, this marks the beginning of a new uptrend, trapping the late sellers, or bears. In Wyckoff's method, a successful test of supply represented by a spring (or a shakeout) provides a high-probability trading opportunity. A low-volume spring (or a low-volume test of a shakeout) indicates that the coin is likely to be ready to move up. SO, THIS IS A GOOD TIME TO INITIATE AT LEAST A PARTIAL LONG POSITION.

The appearance of an SOS shortly after a spring or shakeout validates the analysis. As noted in Accumulation Schematic #2, however, the testing of supply can occur higher up in the TR             without a spring or shakeout; when this occurs, the identification of phase C can be challenging.

NOTE: Springs or shakeouts usually occur late within a TR             and allow the stocks/coins dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR             and then reverses to close within the TR             but not always easy to identify; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares/coins at bargain prices. A terminal shakeout at the end of an accumulation TR             is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR             without a spring.

The above paragraph's were gathered from the following link: http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method

Stay Tuned for more updates in the future.

Please provide a "like" if this publication was helpful. I spend a lot of time and effort creating these publications.

Much appreciated.

All the best!!!

David
Comment: Diversify, of course. For example: What ever amount you choose to invest in ZECUSDT, I recommend dividing it up into 3rds.

A partial long position can be implemented NOW.

Another 3rd on reserve in case it goes lower.

Another 3rd for the Pull back near preliminary support

IF it does not pull back from current location, that unused 3rd can be used on the way up to Sign Of Support (SOS). Just a thought.
Comment: UPDATE:



One should have entered at least a "partial" long position already.
Comment: Update on ZECUSD to see where we are within the Schematic:



Compare that chart to this Accumulation Schematic #2 Example: https://imgur.com/945poSJ
Comment: Just as with ETHUSD Coinbase; the same goes for ZECUSDT Poloniex. Meaning, we are currently about to enter Phase E in this Accumulation Phase. Which is a GOOD thing.

Comment: Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, and reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR. LPSs in this phase are generally excellent places to initiate or add to profitable long positions.

Phase E: In phase E, the stock leaves the TR, demand is in full control, and the markup is obvious to everyone. Setbacks, such as shakeouts and more typical reactions, are usually short-lived. New, higher-level TRs comprising both profit-taking and acquisition of additional shares (“re-accumulation”) by large operators can occur at any point in phase E. These TRs are sometimes called “stepping stones” on the way to even higher price targets.
Comment: $666.66 may more than likely be the new ATH for ZECUSDT in the very near future:

Comment: Posting this only as a future reference for my calls in my trading portfolio:

Thank you for sharing your analysis! It is the first time I see someone apply Wyckoff on real market. Your chart makes complex consolidation easier to read.

BTW, What’s your trading plan for DOW/SP500? Short or wait for pull back to long?
Reply
@mnwind

I'm already out out of the markets. Dropped my 401k! Took the penalty! Bought physical silver and invested in crypto . I recommend others do the same while crypto and PHYSICAL silver are still cheap. My opinion.
Reply
mnwind ProwdClown
@ProwdClown, that is extraordinary!!! Why not buy GLD / SLV ETF? What is the advantage of physical silver, no ETF management fee?
Reply
mnwind mnwind
@ProwdClown , good morning. Do you have a Wyckoff analysis for silver? I couldn’t find it in your idea page. Silver is in big consolidation now, I wonder if it’s in accumulation phase? Many “experts” claim there will be one more leg down after this consolidation. Thanks!
Reply
@mnwind, No, I haven't done one for silver or gold because I don't trade worthless paper. I want physical gold and silver. Mainly silver. However, I'll probably have a look just to see. It's HEAVILY manipulated.
Reply
@mnwind, That paper will be worthless during a financial collapse!
Reply
Dashtothetop ProwdClown
@ProwdClown, They don't get it yet. Paper is not silver. Nor do they think silver in the hand matters much. Most people didn't have the aptitude to realize email and internet would be a big deal. But there were a few who were passionate like no other in the late 80's and early 90's. Your average Joe thought they were crazy and that they've seen everything, and everything has been invented.... okay time for me to go to bed.
Reply
@mnwind, I also bought $80K worth of mining hardware back in June 2016. That was part of money from dropping 401k.
Reply
@mnwind, When I say I'm already out of the markets, I'm referring to stocks, bonds, Spiders, Money Market Accounts, etc... Only in crypto and physical metals in my hands.
Reply
Great explanations, thanks!
Reply
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