Potential Wycoff distribution
Updated
Nice trade opportunity with good r/r. I'm trading short right here. Sl is above the red line of UT. Ideally, price does not trade and hold above the red line @ PSY. I'm expecting price to play around the 24200 area for a bit and break lower to 17500-19000 level. Not advice
Note
So we spiked the top of the UT, trading between psy and UT now. I'm very convinced this is the tail end of a wycoff. Best way for me to play it, is wait for a breach of the 24270 area and place stop above the high. Their is a chance we have one more pump, just let it play out.
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