ProwdClown

LTCUSD - Wyckoff Accumulation Schematic - Pasted again in...

POLONIEX:LTCUSDT   Litecoin / Tether USD
...comments below for easier reading of Text bubbles:



Here is an image of a Richard Wyckoff Accumulation Schematic: https://imgur.com/945poSJ It's IMPORTANT TO NOTE the price action does NOT have to play out EXACTLY the way it's depicted in the Schematic by Wyckoff. It's ONLY an example of POSSIBLE price action within the schematic.

Here is a link with further information on the EVENTS TO OCCUR WITHIN THE SCHEMATIC. It was put together well in a short synopsis of Wyckoff Schematics: http://stockcharts.com/school/doku.php?i...

Books by Wyckoff can be found here. However, make sure to scroll down till you see the name, Richard Wyckoff. MANY other books on trading can be found here as well. Excellent source of trading material FREE online: http://www.traders-software.com/Trading%...

Charts WITH INDICATORS will follow shortly.
Comment: Daily (1440m) TF with indicators:

Comment: 2-Day TF:

Comment: 720m TF with indicators BUT without comments. I believe I've given enough food for thought in previous comments in this LTCUSD publication and the BCHUSD publication to allow you the opportunity to determine for yourself what is occurring in this 720m TF.



Same for the 360m TF with indicators BUT without comments:



I think you can tell by looking at this 360m TF that it's VERY HARD to determine when upside pressure has about exhausted or downside pressure has come close to exhaustion because of all the many waves. NOW, you're probably seeing why I look at higher TF's to get an idea when a particular move {whether up or down] has about exhausted.
Comment: I'm heading back downstairs to the mining room to get back to the remodel for better cooling.

Happy Trading!

:-)
Comment: Reminder before reading the text bubble:

This is the 2-Day TF. You would have had earlier warning in the Daily (1440m) TF. If you're wondering, "Why even look at the 2-Day TF or higher," it's gain an idea of where we're going LONG TERM and where we are located in the progress of that long term TA. That's where Stochastic RSI and Phoenix ARI can be helpful.



Here is the Daily (1440m) TF :


For LONG TERM, the Stochastic RSI and Phoenix ARI show more room for upside. Which tells me Upside Pressure FOR LONG TERM is more dominant than downside pressure. Meaning, the TREND is still BULL (upside) instead of downside; EVEN THOUGH the Gray Ghost and Green Lines are both maxed out above the 80% level in the 3-Day and 4-Day TF's. More so in the 3-Day than the 4-Day TF. This is WHY I'm reasoning to myself that this dip may be just that (A dip) and NOT a dump.

Comment: I've made some changes and additions to the Schematic:



A look at the indicators: Looks like more downward pressure for several more days.

Comment: Previous was 2-Day TF. Here is the 1440m (Daily) TF to simply have a look at the indicators:

Comment: Made some changes to the Wyckoff Schematic. Will show a full chart of that schematic without indicators last. Here is the Daily (1440m) TF with comments in text bubbles:



Here is the 12h TF:



Daily (1440m) TF without indicators and pulled back to allow you to see full picture:

Do you think were are in a Wyckoff Accumulation Schematic #1 or #2?
Reply
ProwdClown CashFlowCrypto
@CashFlowCrypto,

It's hard to say for sure at this point in time but I'm leaning #2.
Reply
CashFlowCrypto ProwdClown
@ProwdClown, If schematic #2 then Phase B auto rally should be at about $200+ range then eventually back down for more testing of the LPS, correct?
Reply
CashFlowCrypto CashFlowCrypto
@ProwdClown, or would it just stay inside that triagle at the $190 range?
Reply
ProwdClown CashFlowCrypto
@CashFlowCrypto,

More like the 2nd choice.

Remember, those schematics provided are only "examples" to show the "events" in each "phase." As far as how low or high the price action goes in each phase goes, does not apply so much. It does to a certain degree but there is some discretion.
Reply
ProwdClown CashFlowCrypto
@CashFlowCrypto,

I'm about to watch a movie with my son before getting back to work in the garage and attic. We're about to watch Thor Ragnarok.

I'll check in later to see if anything else was posted.

: )
Reply
CashFlowCrypto ProwdClown
@ProwdClown, Sweet!! thanks for the response buddy. Thor Ragnarok is awesome...it's like watching a comic book....I can't wait until Infinity Wars at the end of April!!!!! Take care!
Reply
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