FTM USD looks to be creating a Wyckoff accumulation schematic.
Price is currently showing signs of putting in a "spring" and we could expect to see one last test of the lower level of horizontal support which is where I am aiming to take an entry. Aiming to take profit at the top of the range.
Price is currently showing signs of putting in a "spring" and we could expect to see one last test of the lower level of horizontal support which is where I am aiming to take an entry. Aiming to take profit at the top of the range.
Note
Here's a break down of how I am using a lower timeframe to refine my entry. Note
Currently showing signs of LPS (Last Point of Support) which creates a higher low before moving higher.
Some would suggest that we should expect to see an increase in trading volume here. Though we are not seeing that yet.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.