Eventhough I wrote in the last idea that i put the SL in the wrong place on the chart and i haven't been stopped out, I've re-published the idea with the SL in the right place. Nothing in the analysis or entry has changed - this can be backed up by original publication link at the bottom.
Wyckoff Analysis:
A: Volume increase on peak followed by inability to rally higher = buying climax. Consolidation range set. B: Cause being built with sudden change of character - biggest rally since range started. Sign that something is now happening in terms of long/short by smart money. Gradual increase in volume towards C therefore rally in B seen as sign of weakness. C: Biggest volume to date in range (ignore news peaks) at lowest point = spring. Accumulation and not distribution confirmed, tests done after spring too to doubly confirm. Another test possible (first green arrow) where a buy may be entered. D: LPS (last point of support) before reaching top of range again and marking up. Can scale in at BUI (back up onto ice)/range retest at top dotted line. E: not taken place yet - markup.
Written prior to the move re: entry (can be checked in link below): Long on retracement which may be a test. Stop at spring. Typical Wyckoff minimum 3:1 trade. Scale in on markup out of range. TP1 = top of range.
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We may be seeing the range retest now. I will scale in here.