Distribution
#Bitcoin Road To $100K - Wyckoff Accumulation UpdatedI've digged deeper in to details and updated the accumulation phase we are entering. While the length of each phase can differ, this is pretty much what it will look like to reach $100k.
So, sideways accumulation looks like it will continue in trading range until October, while institutions accumulate, following a rally / markup to $80k and the distribution will begin, topping at 102k by the end of January and then the cycle will repeat. Forever. Laura.
:)))
Bears clouding the MarketsDow theory continue to suggest weak/bearish technicals after last night's Fed announcement.
Dow Jones Transportation (DJT) has broke below critical neckline (fell thru the Ice) as Dow Jones Industrial (DJI) broke its uptrend line.
DJI breaking its neckline, with confirm US markets entering downline.
GBPJPY 15M SUPPLYI'm interested in a lower time frame supply zone within a higher time frame supply zone that is also an Upthrust After Distribution. The previous supply zone might prevent price from reaching my zone of interest but that is okay. My target is the support line when imbalance had occurred on the Daily, giving me a possible 1:11 RR.
Another Wyckoff Distribution TopI don't have time to plot it, the birds are singing here, but I just noticed this is appears to be another obvious distribution with price in the last phase before Mark Down in the AR and SOW support channel, just like last time. Should be a big drop from here. I'll find out in the morning.
Anyone is welcome to plot it and post their chart here.
Gold Analysis - WyckoffHi Traders/Gamblers,
This is by far my most intricate and detailed analysis of Gold following a distribution that took place a few months ago, as shown.
We have hit our target area for gold as shown and stipulated.
Following the DXY's downward it has since settled and seems to be consolidating giving signals of a reversal with a H&S as well as distribution taking place.
This then means that gold is currently experiencing the opposite as it heavily relies on the USD to determine price action - DXY effects gold at around 2 - 6 times the movement (1% movement on DXY makes 2% - 6% on Gold, depending on sentiments and trend).
Gold could be potentially distributing here as it has reached accumulation cause and effect, or Stage 1.
We now wait for the other stages to be completed to fully confirm a downtrend which would see significant downward movement - possible into the 17xx or 16xx.
This however could also be a re-accumulation into a further upward trend, giving us 2xxx, it is important to note that we could still see 1960 as a point of UT or UTAD before going down.
RSI has broken upward trend and is currently bottomed out on Daily chart showing that we could range for a little more, however MACD is topped out and has crossed over signalling a reversing trend in the near future.
Volume is decreasing, creating a base, showing an exhaustion of demand and buyers and the possibility for sellers and supply to take over.
With CPI being released tomorrow at 1:30pm (UCT) this will be a good indication of where the market will stray, we are hoping for a lower low giving us SOW and then retracing back up to give us a last point of supply before heading down.
Once we have received the SOW and the LPS we will then be able to use the point and figure chart to determine a target objective based off of cause and effect.
It has been said that Russia are wanting to dump the dollar and invest in euro and gold which could possibly mean that Russia will sell off their gold positions and look to add more at a cheaper rate of gold - emphasising again the significant downtrend we could see along with a big spike back up once target is reached.
To read up on the Wyckoff method and the phases, stages as well as buying or selling signals read here: school.stockcharts.com
Good luck.
**This is not financial advice**
Chart is made shareable by clicking this link: uk.tradingview.com
BTC Looking distributional Left arrow was TESLA news buying Bitcoin.
We never tested that level.
This test is important. We either hold here and try to bounce or we go down to around the 28K level.
If we see 28K could the bull run continue? I think it could.
Do you think bull run is over? Would love to hear your comments!
Wyckoff Distribution Schematic #2 Phase D ExtendedUpdate to the Wyckoff Distribution Schematic #2 first brought to my attention by YouTuber "Uncomplication". This pattern is market manipulation by the "Composite Man". As we move into Phase E, see below regarding when to short
Phase E depicts the unfolding of the downtrend; the stock leaves the TR and supply is in control. Once TR support is broken on a major SOW, this breakdown is often tested with a rally that fails at or near support. This also represents a high-probability opportunity to sell short. Subsequent rallies during the markdown are usually feeble. Traders who have taken short positions can trail their stops as price declines. After a significant down-move, climactic action may signal the beginning of a re-distribution TR or of accumulation.
Stag: trendlines broken new lines filled STAG ...what can we say technical about it.
The purple is a long term July '2017 trend line and the pink is a Aug '2018 trend.
We pass the 2017 trend line and are now touching, ever so slightly, the 2018 trend line.
We passed all resistance levels (long ago) and we are $3 a share away from the 50MA.
In the short term we expect some profit taking and a pull back but with the limited supply of large industrial spaces (suitable for ecommerce or distirubtion) we don't see a problem keeping these levels in tact.
Happy upside trading on STAG
Stop Extended Slightly - Move down to beginAfter extending my stop slightly to accomodate this pair begrudgingly, I have now observed a near perfect Wyckoff schematic of distribution on the 5m timeframe.
If I am correct the institutions will begin their sellof shortly as I believe we are in the last phase where we saw increased volume with a rather weak reaction compared to the previous test where we had no volume but an increased spread and reaction.
As always, please be responsible with risk and manage your trade.