So far 2021 appears more of the same...covid, riots, and money printing. We are actually in the midst of a sizeable demand level from March 2018 and the fact we have an untested low around the 92 handle makes me bullish shorter term. Fed has been very vocal about keeping rates low so I believe this is largely priced in. Politics however can change in an instant...
all detail on chart i think its clear to people who know wycoff but still its not clear if its distribution or reaccumulation so we should keep an eye on it and DONT TRADE NOW ANYTHING trust me we are in phase B now and its very painful because when good stuff come u will be exhausted
WE might see an UT also so i put 21250 as a range for that and again its very...
ABC showing a weekly structual descending broadening wedge with partial decline. Breakout has occured, with a throwback backtest. Price target in the realm on $6 in time. This is a large pattern, so be patient. This is not financial advice. I can't give you entry or stops.
- Distribution Phase
- Price keeps making lower lowers
- Expecting to see Price drop around the previous pivot area
-Price is respecting the P pivot area
- Vaccine on hold
- Stimulus package uncertainty & unpredictable
XRP is un-phased but the move in BTC. Why?! Because there are no weak hands LEFT! That’s why. Using the wycoff method truly allows you to identify when there are no sellers left. Sprinkle in a little bullish news and boom, you got big gainz.
So I was very much spot on for my last prediction and it makes me quiet happy.
Now just like I said in the last prediction, I doubt its abilities to make a strong break out, although it could.
At this price position, the trend could continue after hitting 1.144 or even 1.147 but it could also hit an resistance and quickly falls back down.
The point is, one can...
Let me start off by linking a textbook example of Wycoff Distribution. Understand the phases and then move on to this Bitcoin chart.
Dropbox Screenshot: www.dropbox.com
The phases of...
Looks like CADJPY is in PHase B on the Monthly chart according to Wycoff theory. Expect it to buy to the TR (ceiling) then sell below to clear liquidity which will cause the spring before buying up long term. d.stockcharts.com