Combining these two tactical tools, we might have a broad perspective of what is more likely to happen.
In this analysis, Elliot wave indicates that the correction is over while Wyckoff tells us the present pattern might be an accumulation phase in progress.
This idea is not financial advice.
Comments and feedback are welcome ;)!
Trade active
⋅
A retest from phase C is in progress range 3 to 2.80 is possible. If there are still sellers on 2.80, professionals might try to go deeper to range 2.50 to 2.28. The last scenario is less probable but always needs to be considered
Trade active
⋅
The spring milestone just happened today , we are now in phase C and Trasitioning to phase D
Keeping the strategy. Wyckoff is still active and working as expected.
marcohf7811
⋅
mfibbs
⋅
What is all this?? I think your ABC's are in the wrong spot. I'm having trouble making sense of your chart. What do I know? I'm just an elliot trader and know nothing about Wyckoff
marcohf7811
⋅
@mfibbs, The EW pattern appeared to be a 5th wave truncated (quite tricky), the Wycoff was indicating us a retest in phase C, which seemed to have happened just a few hours today in the expected range; that's because pros are looking to buy the cheapest as possible, so they use to sell a balanced amount to sow fear and force retailers to sell cheaper. Those sellers will rebuy in the spring zone, or even they will buy later at higher prices. That's the way the pros play with retailers. However, if they did not get the exact point ( even point)for their strategy, they can still force it to go lower till they get it.