Full Credit to this article on Wykoff Distribution and video.
The reason this pattern caught my eye on a custom 3d timescale are the first 3 events of Phase A lining up perfectly in a cyclical pattern.
I'll update the pattern as it continues prove / disprove.
Phase and Definitions in italics are taken directly from the article .
I promised an update to my Wyckoff study of Bitcoin, and with the recent Alert from Glassnode that the balance of BTC on Exchanges is at a 3 year low, I feel we can plot another waypoint on the course towards Wyckoff Distribution. That is, we haven't reached the point of Preliminary Supply (PSY) yet, but this correction is likely the predictive marker that it is next.
Short Gold at 1) LPSY ( Last Point of Supply ) Zone AND 2) Volume Profile ( POC) near 1862 .After Price re bounce near SOW ( Sign of Weakness ) Support. Stop Lost at 1876.95 ( Plus your broker spread )
This post is analyzed according to the Quasimodo structure.
Gold was be distributed from top trade range.
XAUUSD is most likely bearish at the 4h timeframe.
There is a Quasimodo (QML abbreviated) structure if the price returns to 177x level.
Waiting for confirmation structure on lower time frame (LTF).
The QML is Quasimodo level. This is an strong reversal...
This post is analyzed according to the Wyckoff method and find the entry point according to the Quasimodo . structure
USDJPY is most likely distributing at the 4h frame.
There is a Quasimodo (QML abbreviated) structure after the price returns to the Trade Range.
Wait to sell at LPSY when there is confirmation structure on small time frame ( LTF ).
Reward - Risk...
I took the prior Wyckoff distribution fractal from March-May 2021 range and copied it to the current price. Could we see the price increase from this point before we start the Wyckoff distribution pattern again? It looks eerily similar.
What are your opinions on this? Comment below, hit the like and follow me. Thank you!
Check out more below for recent Altcoin,...
GOLD's price seem like "Squeezing" @ :- 1) Major Down Trend line ( Yellow Dotted) 2) Supply Zone ( Red Rectangle Box ). PLUS + its price shown we're " in " Wyckoff's Distribution Stage" with VSA ( Volume Spread Analysis) ...Conclusion :- Price structure doesn't look good for Bull Run...Properly Maintain "bearish outlook" at around 1870
It is still a bit too early to say, but i just want to think ahead of a crowd. If we hold 55.4k we could be heading into a 2nd wyckoff redistribution phase from where we eventually break down into a bear market. Like last time It is a chance that many will predict breakup into new highs, which in reality we will probably not see for many years to come. Don't get...
Gold Price Forecast: XAU/USD hangs near multi-week low, bears flirt with $1,800 mark
Gold struggled to preserve its modest intraday recovery gains from a near three-week low.
Hawkish Fed expectations, elevated US bond yields, stronger USD contributed to cap gains.
COVID-19 jitters could lend support to the safe-haven metal and help limit the downside.
New to charting and T/A but I couldn't help but notice this pattern. Does anyone else see this? What am I missing? If this pattern is correct, we could see a bounce around here followed by a significant decline.
Few months back we had a completed accumulation phase on BTC which led us to attaining new ATH. Since then BTC has been in a state of consolidation ... By wykoff BTC is presently in a distribution phase. As you can see the uptrust (UT) has been achieved. And BTC is presently in a demand zone which should be able to hold and pull price to creating new ATH , aiming...