CADCHF (1hr) Wyckoff idea.
My analysis is based on the market phases that are based on the Wyckoff principles. Price according to Wyckoff has 4 phases, accumulation/re-accumulation phase, mark up phase, distribution/re-distribution and finally the mark down phase. With this trade idea I spotted a re-accumulation that was then followed by a mark up and distribution, based on the above mentioned principles I am expecting CADCHF to be in a mark down phase. After the UTAD formed and broke (i.e. bos) minor structure there was an order block that was formed which I expect the market to close before moving down. This is a risky trade because the break of structure (bos) that we would like to see would be of the SOW not minor structure. But this being a 1% risk of my capital I don't mind taking a 1% loss. Patience will be key from here.
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