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What is the Wyckoff Method? #2 Distribution SchematicDistribution Schematic In essence, the Distribution Schematics works in the opposite way of the Accumulation, but with slightly different terminology. Wyckoff method distribution schematic Phase A The first phase occurs when an established uptrend starts to slow down due to decreasing demand. The Preliminary Supply (PSY) suggests that the selling force is showing up, although still not strong enough to stop the upward movement. The Buying Climax (BC) is then formed by an intense buying activity. This is usually caused by inexperienced traders that buy out of emotions. Next, the strong move up causes an Automatic Reaction (AR), as the excessive demand is absorbed by the market makers. In other words, the Composite Man starts distributing his holdings to the late buyers. The Secondary Test (ST) occurs when the market revisits the BC region, often forming a lower high. Phase B Phase B of a Distribution acts as the consolidation zone (Cause) that precedes a downtrend (Effect). During this phase, the Composite Man gradually sells his assets, absorbing and weakening market demand. Usually, the upper and lower bands of the trading range are tested multiple times, which may include short-term bear and bull traps. Sometimes, the market will move above the resistance level created by the BC, resulting in an ST that can also be called an Upthrust (UT). Phase C In some cases, the market will present one last bull trap after the consolidation period. It’s called UTAD or Upthrust After Distribution. It is, basically, the opposite of an Accumulation Spring. Phase D The Phase D of a Distribution is pretty much a mirror image of the Accumulation one. It usually has a Last Point of Supply (LPSY) in the middle of the range, creating a lower high. From this point, new LPSYs is created - either around or below the support zone. An evident Sign of Weakness (SOW) appears when the market breaks below the support lines. Phase E The last stage of a Distribution marks the beginning of a downtrend, with an evident break below the trading range, caused by a strong dominance of supply over demand. Outcome: Naturally, the market doesn’t always follow these models accurately. In practice, the Accumulation and Distribution Schematics can occur in varying ways. There may be delays in some phases. Still, Wyckoff’s work offers a wide range of reliable techniques, which are based on his many theories and principles. It is certainly much more than a TA indicator. In essence, the Wyckoff Method allows investors to make more logical decisions rather than acting out of emotions. The extensive work of Wyckoff provides traders and investors a series of tools for reducing risks and increasing their chances of success. Still, there is no foolproof technique when it comes to investing. One should always be wary of the risks. Best regards EXCAVO
BEducation
by EXCAVO
18
BTCUSD Falling Wedge Through October 100% to 138.2% TargetsBITSTAMP:BTCUSD I feel Bitcoin will trade within the Falling Wedge Pattern through the month of October, and possibly into early November. The Parallel Channel should act as container until capitulation. Here is what StockCharts . Com has to say about this pattern: The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs. I hold the proposal that Bitcoin can correct to the Fib. Extension Levels between 100%($8,560) - 138.2%($7,558). If BTC breaks past the 161.8% Fibonacci Extension, then perhaps the move should be considered an Impulse Wave, and further drawdown can be possible. In the linked idea below, please review my analysis for the roadmap I've proposed regarding Bitcoin potential patterns playing out, as well targets for WXY correction. Also, If/When Trump wins, the DXY $Index should resume its bearish momentum into 2021. Of course, I may have it all wrong....Let's See! Some Alts may already be signaling possible reversals; OMG, ADA? Then there's THETA, the silent killer, just creeping up!
BITSTAMP:BTCUSD
by TheFreeCryptoPress
7
SXP/BTC is up for a major breakout... 77% and more in the makingSXP/BTC is at an interesting point in this trading price action. It is at the tip of the triangular shape formed by the dynamic support and resistance trendlines that have been traced on the chart There are only two ways price can go henceforward... its just a matter of time. It either goes up or goes down to eventually go up again... In the eventuality it most likely goes up in price, the profit trajectory has been mapped. It should go up by 77%, hitting a price of 0.00051btc Entry point: 0.00028 - 0.00029 btc Take profit: 0.00051btc like my post If you like my trading idea, follow me for more trading ideas
Long
by abasinkanga
[GBPvsUSD] Long Position Oportunity - The price is need to take correction and going to bearish for a moment between RBS and Demand zone. - If you want to open long position / buy please wait for bullish pin bar or bullish engulfing. - Keep mind your money management and maximal equity is 15%. - Harga sedang bergerak menuju koreksi di area garis RBS dan zona demand. - kalau ingin melakukan aksi buy harap ditunggu sinyal konfirmasi berupa bullish pin bar atau bullish engulfing. - tetap jaga money manajemen anda dan maksimal yang saya sarankan adalah 15% dari seluruh dana ekuitas.
Long
by damhafafano
Falling wedge and Fib Retracement - BULLISHZIL currently has one of the setups we are searching for the most. In the long term uptrend, it is important to search for multiple confirmations of buy-back levels. ZIL has several of them. The first thing we can notice is the same falling wedge pattern. The second is the two horizontal lines that have been drawn from the daily chart, displaying old and strong support levels. Last but not least, we used the Fibonacci Retracement Levels from the bottom Swing to the High Swing levels. The strongest level being 0.618, we can spot 2 wicks down reaching this support at 150 sat. The 2 wicks down are confirming the demand on this zone. Our strategy will be to buy back this level and eventually wait for lower levels to accumulate more ZIL. On the other hand, more conservative traders can wait for a breakout of the falling wedge before entering a position.
Long
by NovaBlocks
Bitcoin, historical and fundamentalGood morning guys Bitcoin took back the crown and sat on the throne. I would like to talk a little about the set of events that have been unleashed in recent months. In previous reviews I discussed at length what halving is and what it brings with it, we talked about the pre halving setbacks that always happen in bitcoin based on fundamentals, in addition to historical PA. Without a doubt, the market has been different since 2017. The P.A is directly manipulated by the settlements of the different platforms that offer leverage. In my extensive analysis of halving (published in November 2019) I defined halving as a key point to start the bull markets in bitcoin. Composed of cycles that lead the market to excel. Historical Bitcoin behavoir during the pre and post halving. From 2011 to 2021. ibb.co Pre-halving retrace #1 ibb.co Pre-halving retrace #2 ibb.co Based on the price history, always after having an ATH we get a pre-halving high (Currently $ 13,175) which has been a historical bear trap. Reviewing the behavior of bitcoin since 2011. Following the pre-halving high we obtain quite significant retracements in the price, called pre-halving retracements. Ours happened on March 16, 2020, leading us to 3,600 in a sharp fall. Followed by our beloved halving that happened in the mid-8500s just over 30 days later. After that, as we explained in our analysis of the halving in 2019. On June 1 we had our first strong bullish impulse, and after the retrace we came in a strong uptrend worth noting. Aiming for a new ATH and completion of the current bitcoin cycle November 2021. We are currently resting on the support of 11600 (where there was a CME GAP that was missing to fill in, it is worth noting) In the 4-hour chart we have hidden bullish divergences, in addition to the EMA20 supporting us and a few bullish indicators. But at this point I think the most important thing to study is the volume, the technical indicators are not very helpful in these P.A. However I think we can get more out of bullish positions. Swimming into the highlighted channel to create a bit of consolidation doesn't seem like a crazy idea to me. Going down a little to 11450. However it will not happen if we manage to hold the price at the current point of 11600, this would lead us to 12300 and 13000. From the bearish side 11400 and 10400 look good as targets, just in case we don't hold up. Pay attention to this moment, we could get a winning position, holding or dropping the current point (If we are looking for a short term trade)
BITMEX:BTCUSD.P
by Altsignals
XRP Bullish wedge & Trendreversal?Welcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Ripple . As a lot of our members and followers know, we are usually against buying shitcoins like XRP, but hey when opportunity arises we need to take place in the action. The XRP chart was one of the best looking charts a week ago and below we will describe what we see, saw and plan to do with this cryptocurrency. We will be analysing XRP using a top-down strategy , including candlestick patterns , indicators and price patterns. Monthly : - The last monthly candle closed as a bullish engulfing one. - This was the first bullish sign for XRP in a long time. - The MACD is showing bullish signs (for as far as it is to be seen) Weekly : - The last weekly candle closed as a bullish engulfing . - We can see that we broke out of the bullish wedge . - We closed just above the 50MA - The MACD has formed a bullish divergence and seems to be breaking out at the moment. Daily : - Last 3 daily candles were bullish engulfing candles, demolishing all Ma resistances. - This daily candle is also looking like it is going to close as a bullish engulfing one. - We can clearly see the bullish wedge from this timeframe therefore we present the chart for you from the daily. - Testing the 2800 resistance. (- Possible golden cross in +/- 3 days) In summary: We can see clear distribution against the wedge resistance which lead to this massive price increase. We are now at TP 1 for the bullish wedge , the other TP's can be found around 3K, 3.2K and 3.6K. Bullish wedges are known reversal patterns and often outperform their targets, therefore 4K resistance could be touched in this next month. Dont forget the XRP army, if the FOMO begins, other altcoins keep rising and Bitcoin keeps rising things could go really fast and TA might get difficult. This might be the bottem for XRP atleast for the short term. The monthly close gives XRP bullish momentum for the longer term, which is confirmed by the weekly and Daily timeframe . The XRP chart is one of the most bullish in the crypto space ATM and if you disagree and need us to review a coin, drop them in the comments! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
Long
by ForAllCrypto
ETH ready for 0.04BTC? Welcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Ethereum . There has been a lot going on around Ethereum, Ethereum 2.0 and Defi which has all helped to the current bullish view that a lot of traders have on Ethereum. We will be analysing ETH using a top-down strategy , including candlestick patterns , indicators and price patterns . Monthly: - Bullish engulfing close above the previous stated 3K important resistance. - MACD crossed Bullish. - Now testing the 0.035 Resistance. - Below the 50Ma. (located at 0.04) Weekly: - Last candle closed as a bullish engulfing candle. - We are now well above the 50 and 100 MA. (and seem ready to test the 200MA?) - The MACD is clearly showing a bullish divergence. - The MACD crossed bullish. Daily: - The last daily candles closed as bullish engulfing candles. - We had our support tested and confirmed at 0.03. - We are now well above all MA's. - We have a bullish MACD cross. - Testing the 0.035 resisttance. In summary: The monthly and weekly timeframes suggest that more upwards momentum is coming our way, so the long term is bullish. For this bullish momentum to sustain however, we do need a break and confirmed support at 0.035 (BTC), this resistance is vital to try and reach the 0.04 area. The 0.04 area is key because a lot of strong resistances are coming together: Monthly 50 MA, Weekly 200 MA and the Daily horizontal resistance line. Overtaking the 0.04 resistance and therefore reclaiming the weekly 200 MA would support a bullish trend for the long run. The volume seems to be supporting the bullish view for now so lets see what this month is going to give us! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
Long
by ForAllCrypto
LTCBTC not giving up yetWelcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Litecoin. We will be analysing LTC using a top-down strategy , including candlestick patterns , indicators and price patterns . Monthly: - The monthly close was a bullish engulfing candle. - We are still below all Ma's - MACD is still bearish (with potential) Weekly: - We had a darth maul close. (showing indecisiveness) - Litecoin just missed becoming a bullish engulfing on this weekly. - Bullish MACD divergence. - MACD in bullish territory. - Below all MA's. Daily: - The last couple of signals (boxed) we're hard to read but seemed bullish, we had a bullish engulfing, then an inside candle and a bullish engulfing darth maul candle where we tested the 200 MA. - We are above 100 and 200 MA. - MACD is bullish. In summary: The monthly close for LTC seems to be indicating more bullish momentum, we do however first need extra validation before thinking of way higher grounds. LTC has been lagging behind in the market at the moment, last month LTC even declined to the 10th place in all cryptocurrencies, where in the previous Bullruns, LTC led the market. LTC hashrate seems to be climbing back towards normal levels. The Weekly bullish MACD divergence seems real and if this continues upwards then we might start to think about a possible trendreversal. The Daily signals also seem pretty bullish. The short term is bullish but for the longer term we still need confirmation! So LTC has not given up yet and there are some signals that LTC might start following the rest of the market sooner than later, however nothing is decided yet so this month should be an interesting one! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
by ForAllCrypto
EURUSD OUTLOOK EURUSD - OUTLOOK Monthly time frame Price reached a key zone, this downtrend has been in place since Aug 08. On top of that, we have some signals supporting the relevance of this price level. Price level: Strong downtrend Resistance level Fibo retracement 0.618 Ema 100 - Working as resistance For sure is a tough zone, the price has been rejected and will retest the 1.19 level. Zooming in on the daily time frame, we see a false breakout, the RSI overbought with, and bear strong candle rejecting the price out. We need to see where the markets will move, personally I think the price will retest the 1.19 level and bounce back to 1.15 1.14 level bringing us a buy opportunitIes. I will be looking for trend reversal signals to short or wait for the breakout to go long. For sure it is an interesting zone to look at. Wish a good week to all of us. Peace!!!
by bruno.acorsii
2