Breakout after Re-distribution (which was also a descending triangle). There was a fakeout to the upside yesterday with massive volume but price has now broken out to the downside today. Shout things play out, I expect price to go down to it's key level of 1.1000 if it breaks support at 1.10298, where I'll be looking to take partials and move stops to breakeven.
Here we see a classic case of Wyckoff Double Bottom Accumulation. I expect IOTA to linger in between 24-27 cents in the coming week(s). When the double bottom confirms it can exit upward.
If a daily closes below purple lines, watch out for death scenarios.
NASDAQ:AMZN failed to break above its Upward trendline on 3x attempts.
Negative relative strength and FFI indicator potentially points to stock's further weakness.
1st target price at US$1,760 and 2nd target price at US$1,675.
Break above US$1,835 will falsify the above analysis.
Hello traders investors and community, today i want to share with you an example on how to analyze with the wyckoff market theory.
There is an interesting example of an wyckoff distribution which i detected in BCHUSD, formed the...
Strength in the chart:
1. Both Spring as support
2. Confirmed Spring
3. Accumulation stage
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
I've noticed a meme develop in the crypto community around this unusual price pattern seen almost extensively in crypto currencies, characterized by its sudden rise in price, sideways movement, then sudden drop. However, from my experience similar patterns are rarely seen in higher liquidity markets like Forex.
It is possible that this pattern is sometimes...
Good morning, traders. We saw decent movement yesterday follow by rejection at the $10000 level (supply zone as noted on this 4H chart). Price has retraced following that rejection and is potentially finding support in the larger daily grey demand block once more. The 4H RSI is resting previous resistance as support and I have added the next level of resistance...
Created on mobile so apologies for any unforeseen errors in chart.
Daily close line graph (white) is hidden, but current close price is provided.
Chart depicts lines graphs of daily pivot (pink), daily pivot average (orange), daily S1 (green), and daily R1 (red).
Stoch RSI and Market Bottom indicator provided.
Hold/Buy-zone range indicated by yellow (115)...
Since the climactic action in Bitcoin in late June, price has entered a trading range and we have had the signs of Wyckoff distribution. We will need to see the confirmation of the weakness on the right hand side of the trading range. The characteristics of distribution and re-accumulation can be very similar.
A buying climax followed by an automatic reaction and...
Following a repeating pattern, this trade has played out nicely (See links below). We have now reached the overbought line of the trend channel. With a throw-over and volume increase, this looks very climatic. This could possibly indicate the start of a trading range.
Good morning, traders. Nothing has really changed from yesterday. I am still watching the same levels for up or down and still waiting for the H4 and H6 RSI indicators to cross above their resistances. Price has not moved definitively in either direction but it has continued to contract. Zooming out to the daily, we can see that the last three days have created...
Good morning, traders. Price didn't close out the daily as strong as it started it, yesterday, but before you get too bearish let's take a look at the H4 picture. Stripping out most of the noise, this is what we get -- price nearing daily descending resistance while printing a possible descending wedge. We can see supply volume contracting significantly as this TR...
Good morning, traders. Yesterday's YouTube video updated was titled "Are you ready for the bounce?" and we did get the bounce. In Discord, I made sure our members were aware of the bullish divergence on the H1 (which also showed up on the H4) following the TD 9 on the H6 which warned us that this move was likely incoming. The RSI resistances on the various TFs...