XMRUSDT - Wyckoff Accumulation Schematic #2
I've copied and pasted this chart below for easier viewing and reading of text bubbles:
Image of Wyckoff Accumulation Schematic #2: imgur.com/945poSJ
Link to "Basic" overview of Wyckoff Methods: stockcharts.com...school/doku.php?id=chart_s...
I decided to create a new publication for XMRUSDT Poloniex to assist those wondering where we are in the time line of Wyckoff's Accumulation Schematic. And yes, we are in "accumulation."
Image of Wyckoff Accumulation Schematic #2: imgur.com/945poSJ
Link to "Basic" overview of Wyckoff Methods: stockcharts.com...school/doku.php?id=chart_s...
I decided to create a new publication for XMRUSDT Poloniex to assist those wondering where we are in the time line of Wyckoff's Accumulation Schematic. And yes, we are in "accumulation."
Comment:
Note the new yellow text bubble. The ABBREVIATIONS DEFINITIONS has been updated by putting everything in alphabetical order. Those definitions will be included in most all charts and publications in the future.
Also, I edited "LPS" in text bubble in Phase "C" to include three question marks. I placed the question marks there simply as a precaution. However, I believe we found Last Point of Supply overcoming the demand in Phase "C". I'm basing that argument from what I'm seeing in the indicators on the Daily TF. Which see below:
Note the new yellow text bubble. The ABBREVIATIONS DEFINITIONS has been updated by putting everything in alphabetical order. Those definitions will be included in most all charts and publications in the future.
Also, I edited "LPS" in text bubble in Phase "C" to include three question marks. I placed the question marks there simply as a precaution. However, I believe we found Last Point of Supply overcoming the demand in Phase "C". I'm basing that argument from what I'm seeing in the indicators on the Daily TF. Which see below:
Comment:
I left question marks on LPS just incase we have not seen our last point of supply.
PHASE C: It is in this phase that the price goes through a decisive test of the remaining supply, allowing the “smart money” operators to ascertain whether the coin is ready to be marked up. As provided in "NOTE" below, a spring is a price move below the support level of the TR established in phases A and B that quickly reverses and moves back into the TR. It is an example of a bear trap because the drop below support appears to signal resumption of the downtrend. In reality, though, this marks the beginning of a new uptrend, trapping the late sellers, or bears. In Wyckoff's method, a successful test of supply represented by a spring (or a shakeout) provides a high-probability trading opportunity. A low-volume spring (or a low-volume test of a shakeout) indicates that the coin is likely to be ready to move up. SO, THIS IS A GOOD TIME TO INITIATE AT LEAST A PARTIAL LONG POSITION.
The appearance of an SOS shortly after a spring or shakeout validates the analysis. As noted in Accumulation Schematic #2, however, the testing of supply can occur higher up in the TR without a spring or shakeout; when this occurs, the identification of phase C can be challenging.
NOTE: Springs or shakeouts usually occur late within a TR and allow the stocks/coins dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR and then reverses to close within the TR but not always easy to identify; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares/coins at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring.
The above paragraph's were gathered from the following link: stockcharts.com...school/doku.php?id=chart_s...
I left question marks on LPS just incase we have not seen our last point of supply.
PHASE C: It is in this phase that the price goes through a decisive test of the remaining supply, allowing the “smart money” operators to ascertain whether the coin is ready to be marked up. As provided in "NOTE" below, a spring is a price move below the support level of the TR established in phases A and B that quickly reverses and moves back into the TR. It is an example of a bear trap because the drop below support appears to signal resumption of the downtrend. In reality, though, this marks the beginning of a new uptrend, trapping the late sellers, or bears. In Wyckoff's method, a successful test of supply represented by a spring (or a shakeout) provides a high-probability trading opportunity. A low-volume spring (or a low-volume test of a shakeout) indicates that the coin is likely to be ready to move up. SO, THIS IS A GOOD TIME TO INITIATE AT LEAST A PARTIAL LONG POSITION.
The appearance of an SOS shortly after a spring or shakeout validates the analysis. As noted in Accumulation Schematic #2, however, the testing of supply can occur higher up in the TR without a spring or shakeout; when this occurs, the identification of phase C can be challenging.
NOTE: Springs or shakeouts usually occur late within a TR and allow the stocks/coins dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR and then reverses to close within the TR but not always easy to identify; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares/coins at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring.
The above paragraph's were gathered from the following link: stockcharts.com...school/doku.php?id=chart_s...
Comment:
Update:
I'm not adjusted the vertical time line that marks the boundary between Phase C and Phase D. Not yet...
As previous pointed out in the first paragraph in PREVIOUS post, I said, "THIS IS A GOOD TIME TO INITIATE AT LEAST A PARTIAL LONG POSITION." As one can see, This late into Phase C was a good time to make a long position.
I'm about to take a shower and go mail Federal Quarterly Taxes and State Monthly taxes. Which means, I'll be away for a bit.
Anyway, here's an update of that chart to show progress within Phase C of the Schematic.
I'm not adjusted the vertical time line that marks the boundary between Phase C and Phase D. Not yet...
As previous pointed out in the first paragraph in PREVIOUS post, I said, "THIS IS A GOOD TIME TO INITIATE AT LEAST A PARTIAL LONG POSITION." As one can see, This late into Phase C was a good time to make a long position.
I'm about to take a shower and go mail Federal Quarterly Taxes and State Monthly taxes. Which means, I'll be away for a bit.
Anyway, here's an update of that chart to show progress within Phase C of the Schematic.
Comment:
UPDATE:
"Basic" Wyckoff notes for Phase D:
Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, and reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR. LPSs in this phase are generally excellent places to initiate or add to profitable long positions.
"Basic" Wyckoff notes for Phase D:
Phase D: If we are correct in our analysis, what should follow is the consistent dominance of demand over supply. This is evidenced by a pattern of advances (SOSs) on widening price spreads and increasing volume, and reactions (LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the TR. LPSs in this phase are generally excellent places to initiate or add to profitable long positions.
Comment:
UPDATE... Emphasis on Red text bubble within the indicator near the bottom.
Comment:
A comparison of XMRUSDT in BLUE and BTCUSD in CANDLES.
Comment:
I took DASH off the chart cause it looked similar.
Comment:
UPDATE:
I took the question marks OFF of BU/LPS to CONFIRM the Back Up (pull back) & Last Point of Supply.
I took the question marks OFF of BU/LPS to CONFIRM the Back Up (pull back) & Last Point of Supply.
Comment:
We're looking for a Sign Of Strength (SOS) now...
Comment:
Phase D still valid, Followers!!! Don't panic.
If you made entry just before the previous drop and did not sell to buy the dip, I hope you had a 3rd in cash in reserves to buy the dip.
If you made entry just before the previous drop and did not sell to buy the dip, I hope you had a 3rd in cash in reserves to buy the dip.
Comment:
Update on the Daily (1440m) TF:
IMPORTANT NOTES IN THIS 360m (6h) TF:
IMPORTANT NOTES IN THIS 360m (6h) TF:
Comment:
REMINDER:
Note: Springs or shakeouts usually occur late within a TR and allow the stock’s dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR and then reverses to close within the TR; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring.
Test—Large operators always test the market for supply throughout a TR (e.g., STs and springs) and at key points during a price advance. If considerable supply emerges on a test, the market is often not ready to be marked up. A spring is often followed by one or more tests; a successful test (indicating that further price increases will follow) typically makes a higher low on lesser volume.
SOS—sign of strength, a price advance on increasing spread and relatively higher volume. Often a SOS takes place after a spring, validating the analyst’s interpretation of that prior action.
LPS—last point of support, the low point of a reaction or pullback after a SOS. Backing up to an LPS means a pullback to support that was formerly resistance, on diminished spread and volume. On some charts, there may be more than one LPS, despite the ostensibly singular precision of this term.
BU—”back-up”. This term is short-hand for a colorful metaphor coined by Robert Evans, one of the leading teachers of the Wyckoff method from the 1930s to the 1960s. Evans analogized the SOS to a “jump across the creek” of price resistance, and the “back up to the creek” represented both short-term profit-taking and a test for additional supply around the area of resistance. A back-up is a common structural element preceding a more substantial price mark-up, and can take on a variety of forms, including a simple pullback or a new TR at a higher level.
Note: Springs or shakeouts usually occur late within a TR and allow the stock’s dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price below the low of the TR and then reverses to close within the TR; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring.
Test—Large operators always test the market for supply throughout a TR (e.g., STs and springs) and at key points during a price advance. If considerable supply emerges on a test, the market is often not ready to be marked up. A spring is often followed by one or more tests; a successful test (indicating that further price increases will follow) typically makes a higher low on lesser volume.
SOS—sign of strength, a price advance on increasing spread and relatively higher volume. Often a SOS takes place after a spring, validating the analyst’s interpretation of that prior action.
LPS—last point of support, the low point of a reaction or pullback after a SOS. Backing up to an LPS means a pullback to support that was formerly resistance, on diminished spread and volume. On some charts, there may be more than one LPS, despite the ostensibly singular precision of this term.
BU—”back-up”. This term is short-hand for a colorful metaphor coined by Robert Evans, one of the leading teachers of the Wyckoff method from the 1930s to the 1960s. Evans analogized the SOS to a “jump across the creek” of price resistance, and the “back up to the creek” represented both short-term profit-taking and a test for additional supply around the area of resistance. A back-up is a common structural element preceding a more substantial price mark-up, and can take on a variety of forms, including a simple pullback or a new TR at a higher level.
Comment:
From now on, I will make sure to explain what we're looking for to "validate" my interpretation of a previous action.
Comment:
I honestly believe we are still about to begin a "Spring" in the near future. So, no need to panic. However, I do not recommend MARGIN longs unless you've caught the bottom of a Selling Climax or Test of Support in Phase B. But that's me. Can you consider "margin" long on an SOS? That's up to you. Be prepared for a BU/LPS to possibly liquidate your margin long in that particular situation. Best to not margin there in my opinion.
The reason for my previous statement was for those who might have emotions of "Panic" if they have "margin" longed.
The reason for my previous statement was for those who might have emotions of "Panic" if they have "margin" longed.
Comment:
Update:
I've been VERY busy the last several days. I need to get back to it. Simply wanted to provide an update on XMRUSD.
I've been VERY busy the last several days. I need to get back to it. Simply wanted to provide an update on XMRUSD.
Happy trading!
David