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SteynTrade
Apr 6, 2017 6:22 AM

EURUSD Classic Wyckoff: About to jump the creek Long

FX:EURUSD1W
Euro Fx/U.S. DollarFXCM

Description

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EURUSD is showing classic signs of accumulation of Euro and selling of USD. We have had a spring and test in phase C and the creek is about to be jumped. The creek is being defined by the confluence of the yearly pivot point, 50 weekly sma and historic 50% retrace defined by the Ichimoku Cloud.

Comment

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Trade developing and creek ready to be jumped. French elections could be the trigger.
ichimmokukinkohyowyckoffaccumulation
Comments
miguelare95
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Spot on! Do you think we are now in a Wyckoff reaccumulation phase? Thanks
SteynTrade
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@miguelare95, Hi on a weekly chart we could be backing up to the creek but on the daily we have gone through a mark up and distribution and now busy with the mark down. I posted that in the following chart: tradingview.com/chart/EURUSD/fr3KgGn3-EURUSD-classical-Wyckoff-Mark-down-after-re-distribution/. So once the back up is complete we could have a further mark up on the weekly. We will wait and see how this develops.
miguelare95
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@SteynTrade, thank you, much appreciated!!
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