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XRP/USD WYCKOFF REACCUMULATION!Hello my beauties. I think the price is leaving support and reacting to the buy zone very nicely. After a spring, we'll normally get a SOS (sign of strength) and subsequent retest of the range, before the price goes on to generate a powerful markup. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
BITSTAMP:XRPUSDLong
by TrickleDownFX
Bearish broadening wedge on USOIL! WTI technical analysis!Hello my beauties. It seems that the price of oil, while climbing, has created a bearish broadening wedge (or megaphone). The completion zone for this pattern is the green area. I'll wait for any wign of weakness and initiate a short position to the completion zone. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
TVC:USOILShort
by TrickleDownFX
1
GBP/USD POSSIBLE LONG SCENARIO! WYCKOFF ACCUMULATION SCHEMATICS!Hello my beauties. I believe GBP/USD might be reaccumulating after breaking a very long term downtrend. I will be longing in case the prices breach the range to the upside. For more aggressive traders or range traders the opportunity is here already! If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
Long
by TrickleDownFX
TROX idea after good earnings- disclaimer: amateur swing traderTROX seems to be bouncing off the 200MA. Just came off good earnings and an increased dividend. Seems to have strong fundamentals. Targets set for previous high, and 127 and 168 fib extension levels (which are also previous levels of resistance). Target 3 = 30.50 RR: 1.66 Target 2 = 27.30 RR: 2.37 Target 1 = 24.51 RR: 3.13 Close below $15 and I'd get out. Let me know your thoughts on this analysis as I'm still learning and appreciate the feedback.
NYSE:TROX
by RyanKasper
USOIL IN DEPTH TECHNICAL ANALYSIS!Hello my beauties. I'll be shorting oil until the 56/58 area as it needs to retest a 13 years old trendline. The price broke it to the upside and I don't think it is going anywhere before kissing it. Oil is now facing a cluster that consists of the following resistances: - 1 year long uptrend trend line ; - downward channel trendline; - inverted head and shoulders neckline. On top of that, the following indicators suggest downside to come: - RSI bearish divergence; - stochastic forming a bearish divergence. Further reasons why I am taking the trade: - we have to see an Elliott wave 5 in the current downtrend. For those of you who are not familiar with Elliott waves , wave 5 needs to exceed the lows created by wave 3. From a short/medium term technical perspective, downside is pretty probable. After that I'll be bullish for a very long time. The green area evidences where I expect a strong reaction to happen.The weekly volume profile indicator suggests that the most orders have been placed in the 56 area. I hope this idea helped you, please like, follow and drop a comment below if you have any questions and we'll discuss them together. Consider supporting me if you believe I provide you with valuable information. Peace. Luca, TrickleDownFX
TVC:USOILShort
by TrickleDownFX
2
XRP/USD WYCKOFF REACCUMULATION!Hello my beautiful traders. XRP/USD is going through a phase of Wyckoff reaccumulation, in my opinion. I will not take the trade until I find myself seeing a confirmation in the SOS (Sign Of Strength) that would lead prices above the red trading range. If that's the case, I would take my entry on the breach and retest of the range itself. For the most aggressive traders, now is a good time to enter! I personally wait for confirmation. I suggest you go take a look at the Wyckoff trading strategy yourself, here's an helpful link: school.stockcharts.com Drop a comment below if you'd like me to analyse a pair that you're interested in! If you found this idea to be educational and/or helpful drop a like and follow. Peace. Luca, TrickleDown FX
BITSTAMP:XRPUSDLong
by TrickleDownFX
USING GOLD TO EXPLAIN WYCKOFF DISTRIBUTION SCHEMATICS!Hello my beauties. I see very little content on the platform regarding Wyckoff, and I really believe it is a must to understand what is happening from an emotionally and mentally detached perspective on the markets. Wyckoff analysis provides you with an opportunity to do just that. I will walk you through the events and what they mean for the market, and hopefully I'll be clear enough to provide you with the reasons that compel me to take my trades. Enjoy! Here are the distribution schematics for you to use as reference: www.google.com 1) Point of Supply (PSY): the price hesitates around the area where the support of the trading range will form; this represents a warning that the mood is changing that retail investors normally fail to notice; 2) Buying Climax (BC): big investors start releasing their shares as they are satisfied with the price target they have achieved; 3) Automatic Reaction (AR): retail investors believe that the instrument is retracing, and do not pick up on the mood shift in the price action. They enter and buy aggressively, perceiving value and expecting a trend continuation. Big investors use their longs to open short positions at advantageous prices*; 4)Second Test (ST): the second test is a test of demand. In the case of a distribution, it normally fails to generate a new high, which is a massive red flag. Retail investors usually fail to notice this warning sign, and keep on buying themselves in; 5) SOW: the price starts showing some weakness. This allows smart money to trap sellers that think the price is switching to a bearish trend ; 6) Upthrust (UT): this event allows smart money to both stop out sellers that entered the market in the previous case, and trap buyers that believe in a trend continuation. Needless to say, that's not the case. 7)Upthrust After Distribution (UTAD): the price moves higher and traps even more buyers. At this point there are multiple tests of the so called ''path of least resistance''. Big investors are adding to their positions as retail traders keep on expecting strength. By this time the faith of the price has long been decided. 8) Last Point of Supply (LPSY): the market hesitates, showing extreme difficulty pushing towards the upside. One of the last chances to enter a short position. 9) Sign Of Weakness (SOW): the price starts melting down, as the ''path of least resistance'' is now cleared by all the stop losses triggered by the sudden shift in market mood after the UTAD. 10) Last Point of Supply (LPSY): very last attempt from the buyers to hold the price up. 11) Markdown: all clear, the move begins! The price swiftly moves below the TR (trading range) and dumps towards the final target. I hope this information helps you navigate the market and profit from them. I will be periodically publishing explanations of the Wyckoff method. If you find this content to be valuable, like, follow, comment below. Thank you very much for reading, and good luck. Luca, TrickleDown FX * on the market, for big investors to open new positions, there needs to be an availability of positions that is normally generated through manipulation. The manipulation is only necessary because there simply isn't enough liquidity for smart money to enter the market. So the only way they can open new positions is by selling into the retail longs, or vice versa. This provides them with a number of shares that would satisfy the huge sums of money hedge funds normally manage.
TVC:GOLDShort
by TrickleDownFX
Large EU bullish do we continue?Good morning traders! Yesterday was a great trading day, with many members in the community banking great % from the trades that were on offer! Shifting focus to the session today we are in a clear buying range, a sweep of the lows into discount would offer an excellent place to enter long. Alternatively a nice 5minute selling range would offer us the chance to enter short and "fill" the range yesterday before a long. As always trade safe EnvisionEJ.
Long
by EnvisionEJ