USDTRY - EXAMPLE WYCKOFF`s MARKET PHASES
$GBPUSD is at many support area, Break those support will be very bad indicator for UK. is UK really in that bad situation?
Schematics 3. Mr. Richard Wyckoff Distribution
Here's the Wyckoff Market Cycle as imposed onto Bitcoin $BTCUSD for the last 30 days price action. With one more leg down into $391, we will complete this pattern. Great buy opportunity if it goes to $391, and stays below $420 for a short period. Bullish for a 4-5 month time frame.
The gold run too fast, and it happened before. But the main longer trend is still bearish. And The only Question is when it turn back to bearish. Look at the USDOLLAR index. The price is testing the 12000 support level for USDOLLAR and next will be 11800 support. I see the money go to Yen and Gold and few on Euro. And i am looking to selling out on those 3...
My idea about gbpjpy reaccumulation Mr.Wyckoff phases. Let it hapen :)
We have potential BAT pattern which has similar entry to potential AB CD pattern. On 4hr we have double bottom so we might see Wyckoff's accumulation here.
AUDUSD is possible at maximum level for bullish correction, before continuing the bear trend. Possible pattern will be a bullish butterfly , but I will not but at D bottom, as the main trend is bearish. I will ride the Bear "CD path. 1 st support will be 0.7070 and the lower support will be 0.7000, then D is expected at 0.6800 area. The longer term chart support...
CADJPY is testing 90.50 support level. Price very hesitate to break the 87.30 low. Buyer always comes when the price testing the support zone 90.60 - 88.00 area. Seller may be sitting at 95.00 level and the down slope line may resist the price move. This formation is reverse chart from USDCAD daily chart, where the price is also likely hesitate to break its...
Successful tape reading is a study of Force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side. Richard Wyckoff
First USDCAD is in very bulls move in very long run, and the priority is bulls setup here. But now there is a potential for short term bearish move to build 'BC leg. I will be very bullish when it comes to C leg, 1.2900 area or the last support is 1.2700 (but likely it won’t come this low). This bearish correction are base on analysis as below : - Sentiment...
Just getting into Wyckoff so I married chart with Wyckoff and Andrews Median. It looks pretty textbook example of Wyckoff considering that Sierra Wireless is a leader in Internet Of Things and only has a very small share float. After the ATH when shareprice doubled in 3 months shares fell and appear to be re-accumulating after falling on good news - shakeout In...