Daily Sequentials at 9 followed by a slowing down on sellingpressure, for 1 week algos and DP has been accumlating, days forward is not something that you should short (yet)
Been late on publishing this idea but been consistently talking about it past few days.
PS—preliminary support, where substantial buying begins to provide pronounced support after a prolonged down-move. Volume increases and price spread widens, signaling that the down-move may be approaching its end.
SC—selling climax, the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom. Often price will close well off the low in a SC , reflecting the buying by these large interests.
AR—automatic rally, which occurs because intense selling pressure has greatly diminished. A wave of buying easily pushes prices up; this is further fueled by short covering. The high of this rally will help define the upper boundary of an accumulation TR .
ST—secondary test, in which price revisits the area of the SC to test the supply/demand balance at these levels. If a bottom is to be confirmed, volume and price spread should be significantly diminished as the market approaches support in the area of the SC . It is common to have multiple STs after a SC .
Test—Large operators always test the market for supply throughout a TR (e.g., STs and springs) and at key points during a price advance. If considerable supply emerges on a test, the market is often not ready to be marked up. A spring is often followed by one or more tests; a successful test (indicating that further price increases will follow) typically makes a higher low on lesser volume .
SOS—sign of strength, a price advance on increasing spread and relatively higher volume . Often a SOS takes place after a spring, validating the analyst’s interpretation of that prior action.
LPS—last point of support, the low point of a reaction or pullback after a SOS. Backing up to an LPS means a pullback to support that was formerly resistance, on diminished spread and volume . On some charts, there may be more than one LPS , despite the ostensibly singular precision of this term.
BU—“back-up”. This term is short-hand for a colorful metaphor coined by Robert Evans, one of the leading teachers of the Wyckoff method from the 1930s to the 1960s. Evans analogized the SOS to a “jump across the creek” of price resistance, and the “back up to the creek” represented both short-term profit-taking and a test for additional supply around the area of resistance. A back-up is a common structural element preceding a more substantial price mark-up, and can take on a variety of forms, including a simple pullback or a new TR at a higher level.
https://school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
Good luck everyone
Comment:
W4 May still be intact or
W5
> W2 retrace from W1.
W5
> W2 retrace from W1.
Comment:
W3 of W5 now
Trade closed: target reached:
I stop here, Upward moves are possible, but I can't help but think of a truncated 5 here.
The big move was the accumulation phase and adding longs from spring to signal of strength. Check out the last 2 links.
Over and out.
The big move was the accumulation phase and adding longs from spring to signal of strength. Check out the last 2 links.
Over and out.
Trade active:
Very strong PA, in longs once again.
Trade closed manually
Trade closed: target reached:
TP reached
s3.amazonaws.com/tra...shots/7/79Y0gFg0.png
(Fractalling the wyckoff)