It's been a while since i published an update of the wyckoffian scheme.
If you followed my analyses, you know that on 11 december i published a chart about this wyckoffian scheme.
I made a the support and resistance like i saw them in the scheme. And 3 moves between these support and resistance .
And it played out exactly. In a bit longer timeframe then i...
As you can see, we are once again testing the resistance these days.
Exactly as the wyckoffian scheme shows us. But make no mistake.
51.5K means no breakout, and the model is now broken.
From 55k on multiple timeframes a confirmation I consider as invalidation level for this Wyckoffian scheme.
So the moment of truth.
Are we going to follow this schedule as we...
Well how is it going so far guyssssssss
Not depressed yet? hahaha
Hey take care, and well I hope this charts gives some insights in this quite manipulated market.
I am expecting continous bullish action next week and maybe market reversal at 1.19610.
The price is likely to spring on JULY 14 as we have high impact news.
The demand zone around 1.17720 is a key area to watch as the spring will deflect from that zone from my analysis.
Seems to me like the price is about to go up, not a lot though, i think we would see another range before new highs(if we would see new highs at all)
As soon as the price crosses the Creek, the price will enter the bullish movement.
WYCKOFF STORY
1. Supply comes in but it is quickly absorbed. A trading range starts.
2. Shakeout and successful test. Phase C is completed.
3. Supply is still present on the top half of the range, but it’s quickly absorbed. The uptrend starts.
At point 4 supply comes in on the overbought line of the uptrend channel, a danger point. However, price holds...
