This is what I see right now. Subject to change after market opens tonight. Expecting a retrace to get liquidity and close some IMB's then continue back down.
So OANDA:AUDUSD has been forming a textbook Wyckoff distribution pattern and is hanging by a thread atm. We are currently entering phase E which according to the Wyckoff distribution schematic is a markdown phase. You can clearly see the price manipulate the highs and break down out of the structure. If you still haven't shorted yet you might want to wait for...
Assuming the schematic is very correct, We might see gold push one more time to the upside. I have been patiently waiting for price to get at the 1860 level to go short on Gold. Price indicates it will hit that level before going down.
Maybe off on my labels of the Wyckoff Schematic but the idea I think is still valid. It's a distribution. Several Areas for short and several Unmitigated areas
USDCAD is hatching a plan to take out liquidity as FED chairman testifies. Be woke and stay alert of the trickery about to happen
I loved this markup because it shows me I'm thinking better about charting and WHY a move is made. So This played out nice. I think it will still clear a bit more liquidity at the top before heading back down IF the downward trend is over this is a good place to go higher. There was several OB's unmitigated that got filled the last 2 days. After the news drop it...
Oil prices rise over 2% on Friday as the market reacted to falling U.S. inventories, and signs of strong Asian demand from both China and India added support. However, a possible pullback before upside continuation.
Perfect Wyckoff Distribution that went down today.
Hey Guys, Gold is done with a very long term accumulation as we have finally broken structure upward, and on this current pull back we see once again we have accumulated by manipulating lows and breaking minor structure upward, that means pull back is done, expect up moves from here on. My zone of interest is the daily candle that took the final lows before the...
So I know many people are saying that this Wyckoff accumulation pattern has been invalidated due to the lower highs and lows we have been getting but I still believe this is part of the wyckoff accumulation and we are really close to the markup stage. Here is my argument to why its still valid. So first off wyckoff patterns are never 100% accurate and we can prove...
Just an updated view of our sideways action. Looks like I will need to redraw the accumulation phase as we are stuck between 32k - 36k. I still expect a dip soon which will start our rebound possibly. This chart will not change as I am curious to see how this plays out compared to the accumulation model.
USDCAD has been preparing for a retracement to level 1.219190 but not without building up liquidity. We might see prices tap the resistance line at 1.26545 and leave Equal highs to be taken out after the retracement. All in all having a bias will aid us in not getting caught up against the trend. Lookindg for shortterm sells at the equal highs then longterm buys
Nice and clear Wyckoff Distribution on Dolar Index. I will explain below what all the letters on this chart mean so that you can understand it better. PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching. BC—buying...
DISTRIBUTION INSIDE AN ACCUMULATION I cannot tell you guys in full totality that this schematic is right for sure, it is just an anticipation of the many possibilities offered by the market. Overall bias is shorts till they sweep the liquidity below. Interms of intraday perspective I think price will continue down and reverse at 0.8500 zone in preparation of a...
I AM AN AMATEUR SO IGNORE THIS CHART PLS. MOST PEOPLE THINK WE ARE IN ACCUMULATION HOWEVER LOW VOLUME AND FAILED HH AND RELATIVELY STRONGER DUMPS THAN PUMPS INDICATE THIS IS A REDISTRIBUTION AND WE WILL LEAVE THE 30-40 RANGE SOON AND WILL REDISTRIBUTE BTW 20S AND 30S. I AM NOT AN EXPERT. JUST PRACTICING AND NOTING FOR FUTURE MYSELF TO CHECK.
Liquidity picked on a lower tf. Price at a key P.O.I. Sell limit placed now we wait. Risk manangement is key .Max of 1% per trade.
BTC very clearly followed a support line that broke leading to the flash crash we recently saw. This came after a textbook Wyckoff Distribution phase that lasted about a month or so (please google "Wyckoff distribution" to see related images). The Wyckoff Distribution has been completed and we now move on to the next phase; accumulation. For the last 6-7 weeks...