TradingView
WyckoffMode
Apr 18, 2018 11:43 AM

XMRUSDT - Wyckoff Distribution Schematic - Pasted in Comments... Long

Monero / Tether USDPoloniex

Description

...again to see the chart as it was intended. Trading View's platform scrunches up the cover chart every time and forces me to copy and paste it again in comments section.

Keep in mind each candle is a period of 4-Days:



Large FIB coordinates are: 0 = $0.027 and 100 = $478.00

Here's an image of Wyckoff Distribution Schematic #1: i.imgur.com/nOJl0Dd.png

Do NOT assume we will fall into months of bear trend in Phase E as depicted on the image of Wyckoff Distribution Schematic #1 above. Even Wyckoff himself said we do not have to fall into Phase E if the laws of Supply and Demand determine we should skip it and fall into another Phase A of a new schematic.

You're welcome to scroll down in this link to find "Wyckoff Distribution Schematic #1" to find additional notes about phases and events: stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method

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: traders-software.com/Trading Books/

An excellent video to start with on teachings for Wyckoff by David H. Weis can be found here: "David Weis on Wyckoff, Support/Resistance , and Waves" - youtube.com/watch?v=uzISUr1itWg&amp=&ytbChannel=BigMikeTrading

Following up later with more charts including indicators.

Comment

4-Day TF "with" indicators:

Comment

Comment

Comment

I know I should have changed XMRUSDT from Distribution to Accumulation Schematic like I did ETH and BTC. I just haven't had the time to invest into a new detailed publication for XMRUSD or other pairs.

Looks like we're approaching a bottom near my 0.236 FIB at $113.02. Which see:



By the way, a look at potential EVENT "locations" of Accumulation schematic.

Comments
Calibretto
Thank you die this TA. Already made a nice profit.
WyckoffMode
@Calibretto,

Cool... Good to hear.
chancellorrainerus
Xmr is a very interesting coin. It has a really use case. Strong fundamentals. Thanks for posting a wickoff approach for monero!
WyckoffMode
@Labassa01,

Sure, you're welcome.
alexcph
Thanks for this. I just started studying Wyckoff as well so this is very useful.
WyckoffMode
@alexcph,

Sure, you're welcome.

And thanks for dropping by.
More