Looking at the 15M timeline for a bit more 'resolution' in the bar chart. It helps show the Wyckoff pattern well.
I do believe that's what is going on right now. Enjoy some accumulation time and lets hope we get a spring for a bit of an extra dip to buy on.
Have a great rest of your week and I hope you enjoyed some great profits from the last few days! \o/
--- DYOR Avoid FOMO and FUD Stay calm, don't trade with emotion. FWIW my charts are displayed on a 4K Portrait mode monitor, sorry if things are squished for you
The above links are Wyckoff chart schemes #1 and #2.
For my trades, I am now setting up a grid bot to help with accumulation over the period. 3Commas grid bot settings: Top range: 0.000027 Bottom Range: 0.00002 # Grid: 42 Grid width result: 0.62% ~ 0.84%
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Update to the Gridbot. Top range: 0.00002784 Bottom range: 0.0000204
I think this is a better capture zone. NFA
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Sorry, last grid bot update. # Grids = 33.
New Grid width 0.82% ~ 1.11%
Seems to hit trades better than 42. Might have been 'too quick' to pick up on.
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Phase A 'ST' (Secondary test) dropped lower than the 'SC' (Selling Climax). This will probably result in a bit longer consolidation and maybe even bigger dips further a long.
"If the ST goes lower than that of the SC, one can anticipate either new lows or prolonged consolidation. The lows of the SC and the ST and the high of the AR set the boundaries of the TR. Horizontal lines may be drawn to help focus attention on market behavior, as seen in the two Accumulation Schematics above." school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
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I still think we are in a Wyckoff but the jump from phase A to B has seen some consolidation. So Phase A-2 is not a real thing but just showing that consolidation.
I suspect the upper resistance to be around 2600 - 2700. It should be above the AR(Automatic Rally)
Looks like SHIB is following a Wyckoff Accumulation pattern beautifully! I am expecting the ST(Secondary Test) Of Phase B to dip around ~1800.
My grid bot is off and I sold by bag near the top of this current peaks high. I plan on re-buying on the dip. Once I've seen how the correction wave is forming, there will be a better idea of how much it might go down.
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Should have left the grid bot on, this side ways action would have been nice to pick up on. Looking for a good re-entry and I think we're starting phase C. I am thinking that we will see a LPS rather than a SPRING. ST in phase b wasn't as low at all, and I was way off on where I expected it to go. Seeing how Phase C will play out.