A clear second distribution pattern is forming.
We have selling into the moves higher on the recent BC and ST by the looks of the volume.
We are also approaching a re-test of the AR in the first larger distribution pattern.
The downward trend that has formed also indicates a re-test approaching.
Watching this closely for some reversal signals to get into a...
A quick TA on the BTCUSD charts!
In the past weeks, quite clearly we are seeing price action of BTC within a narrowing upward channel, holding quite diligently to the 50MA (in green).
However, we are starting to see weakness in the bulls as volume seems to be diminishing, and a clear MACD divergence printed. The ADX is also starting to show signs of weakness in...
Text and pattern copied from the link, all I did was to apply it to the chart.
Phase A: Phase A in a distribution TR marks the stopping of the prior uptrend. Up to this point, demand has been dominant and the first significant evidence of supply entering the market is...
I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month....
While almost every trader is focused on derivative indicators, subjective chart patterns, Elliot Waves and other abstract objects or collective illusions (which rarely come true through self-fullfilling prophecies), the only way to be closer to the right outcome in your predicitions is to see the market how it really is. Price can change only when limit orders in...
Charles Schwab (SCHW)
Entering Mark Down Phase
Distribution Phase Observations:
-Upthrust (Failure to mark Up)
- Uptrend Line Broken
- Sign of Weakness (Fall Thru Ice)
- RS Negative
- FFI Negative
1st Target: US$42.96
Trading risk will be reduced, if entry when price makes an LPSY to retest previous Ice (support-turn-resistance zone)
Good Monday morning, traders, and welcome back. Bitcoin had a quiet weekend ranging with price while nearing completion of its LPS (Last Point of Supply) in the form of a pennant. I believe this to be subwave 4 of the larger wave 1. As such, my expectation is that we will see price reach $8700/$8800 or $9200/$9500, with the latter being an extended subwave 5....
Seldom apply Wyckoff Method on Indexes. However, we seeing distribution characteristics that are hard to ignore on the TVC:KOSPI (Weekly). The characteristics provided technical evidence that the index has completed its Distribution phase and is expected to enter the Mark Down phase. Applying Fibo to project downside target objectives.
ICX/BTC pulled back like the whole market and it's currently trading at its 0.236 Fib level. Between ~32k and ~34k is a nice buy range. If it falls below that, we might expect a full retracement back to ~28k.
ICON actually made a similar Wyckoff distribution pattern earlier this year.
Here's an idea I've been following for a while now on twitter (twitter.com). What if we're in Wykoffs distribution and markup is next?
The distribution schematic I'm working from is this - d.stockcharts.com
I'm looking forward to...