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Trade Setup
i) we had a long downtrend towards very strong support. ii) The Blue lines indicate the Accumulation process on the chart. This confirms that the market might be accumulating at this point. The breakout through the upper level of the Accumulation range confirms the end of the Accumulation and the beginning of the uptrend. iii) Currently market is in Wyckoff spring point, a perfect Wyckoff trading strategy.. iv) we can enter long once market breakout of the blue line with SL below Wyckoff spring.
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Great analysis. I’m targeting the 138 level for exit with a potential sell limit around 139. Great analysis, just don’t think it’s going to go as deep As 141 before the down trend continuation