I will not develop the wyckoff accumulation pattern again, I made already a lot of idea about it in the past few days and on short timeframes and don't really have time to write a lot right now on a trading session.
So I will just say that we are always in market psychology pattern, the accumulations of this ones on the few last support, show the interest of institutionnals to find a level which can act like support. The daily plan develop in the LDTP idea is always in activity and before the close of a candle there is no conclusion to be drawn. I just note that I like the fact the spring of this Wyckoff accumulation pattern happen on the top level of the major support area. If we close back up tonight it could be a good candle of pressure, with volume, and new level added in the pattern.
"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"
PS : I'm sorry for the entry signal, too short timeframe to be post as idea. I'm actually in on the spring, breakeven already. I will try to post signal on retest of support or SOS/LPS of resistance if I have time to write it at time and if we go for it.
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Here the entry on 5 minutes timeframes to remind you the initial pattern : Exhaust + Pressure + Volumes (and levels of course). Here it's a more complexe pattern that I never had the opportunity to describe technically on another setup. I spoke of anomalies in the two last LDTP#, here it's the exploitation of an anomaly which take place of the pressure. Like the internal pressure on LDTP #2 it can replace the initial pressure in the pattern but you need to be way more experimented to read them well.
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The global pattern have reached is first target like show this image :
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Pullback on resistances lines are always a good opportunity to accumulate more when there is signals.
Thanks Kentg! From a volume perspective, shouldn't we have buying volume candles that are higher than the highest selling volume candles to confirm a short term reversal?
Kentg
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@idealtrends, There is multiple way to use volumes, on my view the most important isn't the number for what you say but the dynamic. Cause if you take back what I was saying in LDTP#1 : volumes are exchanges between buyers and sellers, if there is a high amout of volumes there is a high amount of interest for the level (that why number doesn't make many sense). If what you point here is to use your amount in comparison of the past volume, it doesn't make a lot of interest too if you don't understand the impact of the time past between them. Here I try to picture it : I took the same chart and I added horizontal arrows, they represent the interest of a price, more the arrow is long more the interest is strong. What I want to point is that you have latency between the time where interest is executed and the time where we see new interest . So it's rarely the case that your buying volume exceed your selling volume because you don't (and almost you can't) have as many interest. What I want to point in dynamic is a shorter view in volumes. If you see growing volumes AND buying candles that mean your amount of interest by buyers IS growing AND exceed the AWAITING interest of sellers which mean a reverse in the buying/selling dynamic. It's hard to explain like that but I hope it will help you and that answer your question.
for the wyckoff accumulation pattern , the best case is to have spring below the all low in the range , also the selling climax must be lower than secondary test , but however nice chart mate 🚀🐺🙏 welldone🚀
Kentg
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@kiu_crypto, Thank for your reply but I don't understand what you are pointing here cause selling climax is well under the retest and spring is well under the range.
kiu_crypto
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@Kentg oh yes sorry man , i did't see your chart clearly because of the dark theme that you use , you are right mate perfect chart , don't forgot to follow me if you like the wyckoff method , we can talk about the different wyckoff pattern together.