High-level summary of trade:
i) 'Support' sitting at structure with 78.6% fib, induced Retail Traders to buy too early
ii) Break and re-test of support encouraged a Retail selling frenzy
iii) Both types of Retail traders above, would have likely been stopped out
iv) Our first trades were stopped at BE
v) Re-entry based on Wyckoff schematic, with...
Hey everyone - hope you're good.
1) Strategy is nothing and certainly not "mine" - it's been around since early 20th Century since the days of Gantt, Livermore and Wyckoff
2) Tried and tested methodology whereby Market Makers sell down below structure
3) Killing Retail stops
4) Go back up
5) Come back down to exit the sells at close to break-even
6) And then...
Euphoria doesn't make money, smart money does. If I was to go with a sector ETF, it would be buying lower, otherwise index tracker funds gives me adequate exposure. Interesting if the sell-off gathers momentum