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Schematics

$META Wyckoff Accumulation - Panic Selling - FACEBOOK BULLISHMeta - Facebook Chart resembling a Wyckoffian pattern - occurs in accumulation phase. You can see Facebook has had a big downfall from its top in September 2021. We can view the selling climax, preliminary support, and the secondary test - this particular pattern has a spring currently (panic selling) (breakdown of continuation). This is NOT the last line of defense for META, it can absolutely drop down - there is huge support at $139 - which would tap the lower trend of the falling wedge (marked in light grey trendlines). HOWEVER!!!!! -- check out the descending channel within the falling wedge - (descending channel is marked in green and highlights the Wyckoff Schematic ) and it seems to have found support at the 'spring' - bottom of the trend. This is generally a bullish pattern. To the left we can see a huge capitulation volume bar from February 2022 and the price as been descending all summer - selling volume is also in decline which is bullish. This is not financial advice but this is my take on $META
NASDAQ:METALong
by ChaldeaCode
5
Type 1 Wyckoff AccumulationPrice comes down into the preliminairy support. Price pulls back, showing bigger bullish strength (CHoCH in candle structure) -> Slowing price and creating support -> thus creating liquidity Price bottoms out, creating the selling climax. -> Dumb money starts getting involved in sells. -> Composite man starts buying. Price rallies back up to the end of the CHoCH (AR / automatic rally) Price comes down into the ST (secondary test) which comes to about the level of the bottom of the AR, engineering fake liquidity. -> dumb money buys. Price goes up to around the AR (sign of strength in phase B, ideally stays below the PS) -> taking out sellers / engineering topside liquidity. Price now liquidates the selling climax or ST (overall structure remains bearish, creating an ST (B)) Now price usually starts to range you don’t want price to take out the second high after AR. Price now liquidates all lows with liquidation of the SC is optional but preferrable. Price rallies up (SOW / sign of strength) that takes out seller’s liquidity that should break above AR + SS (B) + now breaks structure. Price might come back to left behind demand zones / mentFX blocks (COURTSEY TO @MENTFX FOR THE IDEA AND KNOWLEDGE)
Education
by finnrep
EURGBPWe've had the weekly distribution schematic happening perfectly so far, now marking this up again I'll like to see the 2nd LPSY be made for our 1000 pip entry move to the downside which adds confluence of our GBP based pairs heading to the upside long term heading into the first few months of 2020. From that point on I expect EUR to then start to rise begging a bullish rally to the upside as I expect GBP based pairs to severly weaken heading into the end of 2020 as a markek crash is expected. #WyckoffSchematics
by jedahs
3