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Wyckoff

GBPJPY Weakness -- is this the End of the Monthly Trend?We are getting to the end of a monthly elliot wave cycle and I am expecting a reversal and distribution pattern to play out. I am not going to try to catch the very top but wait for a stop loss hunt/UTAD to play out. I do think we should see exhaustion of buyers soon. The peak in volume and evil wick we got recently I am taking as a sign of weakness, buyers stepped in but volume is diminishing and diverging with price since then.
Short
by b0_b0
3
Poor Result of Effort: A Sign Of Supply, Nat GasNatural Gas: The essence of techncial analysis (at least in my opinion) is ascertaining the ebb and flow of supply and demand. Natural Gas futures offers a great example of a market which, despite ultra-bullish headlines, displayed clear signs of strengthening supply/falling demand prior to breaking hard. The reduction of thrust or the declining net result of effort displayed in this chart as an important warning of impending change and is a pattern I always pay attention to. In this example: · Each successive thrust covers less new ground than the prior thrust: 76 points, 42 points, and finally 14 points. There is a clear reduction in the net result of the effort expended. This often appears as an arching over. · Each successive thrust is often at a reduced angle: 43, 30 and finally 20 degrees. · Each successive thrust often takes less time to accomplish. 14, 14, and finally 9 bars. But time is the least important of three measures. Since each thrust has less momentum. It’s not surprising that this would register as an ongoing divergence on a momentum oscillator like RSI. This particular pattern built over almost 2 months of trading (37 daily bars), allowing plenty of time to build a trading plan, either exiting if long or perhaps building a plan to build a short position around the decline. More reason to take the development of the pattern more seriously is found in the weekly chart (see the triple screen post linked below). In the example there are three successively steeper trend lines that roughly define the markets trend state. · I tend to be particularly attentive to these patterns after a third steeply pitched uptrend develops in the charts of higher degree. · The parabolic acceleration in the third leg often offers warning that the trend is moving into its late stages. · But, parabolic moves often last for extended periods and cover lots of ground. · I like to look for this pattern on standard scale as opposed to log scale charts. Log scale tends to hide the parabolic nature of the third leg. While others will argue over the efficacy of standard scale charts over long time periods and large moves, I clearly prefer non log scaling for this pattern. There was also an intermediate perspective warning in the RSI momentum divergence. Both patterns of are fractal, occurring across all markets and all time frames. The reduction of thrust pattern tends to display at tops rather than bottoms. Often, they show up well in the hourly charts. Note: I inadvertently used the MCX instead of the NYMEX futures. But there are no material differences in the patterns between the two Good Trading: Stewart Taylor, CMT Chartered Market Technician Shared content and posted charts are intended to be used for informational and educational purposes only. The CMT Association does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. The CMT Association does not accept liability for any financial loss or damage our audience may incur.
MCX:NATURALGAS1!Education
by CMT_Association
11
Potential Accumulation USOILPotential accumulation forming, i've entered now with low lots with the attempt to scale in, once we see that SOS i'll be waiting for the pullback into demand before taking this long. Let me know your thoughts! * Disclaimer ** These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
TVC:USOILLong
by benalistarfx
2
Bullish on EURUSD After a frustrating start to the week, persistence paid off catching a nice long on EURUSD... HTFs - On Monday, price reached the daily demand zone with a rejection and then began to move sideways. This was an early indication that price could be building a cause (accumulation) to potentially reverse to the upside. See the daily screenshot. s3.tradingview.com As price was ranging, there were multiple aggressive bullish impulses on the 1h where highs were breaking again signalling early buying could be occurring. On Wednesday, the lows were broken followed by an immediate rejection deep within the daily demand zone which looked to be a possible Spring phase of the accumulation mentioned earlier. During the Thursday Asia session, price trickled back down to the lows which held (Spring Test). The lower time frames showed what was happening. LTFs - A small accumulation began just after London open and continued through to New York. This a great example of how price is fractal. In the screenshot, there were multiple bullish impulses breaking highs within ranging price action, followed by corrective moves back down. Adding this price action to the HTF analysis was enough for me to set my buy order at the range lows. s3.tradingview.com Next week I'll be looking to see if price continues after this bullish move. It's worth noting I took 2 losses earlier in the week before this trade returned over +10R. Trust yourself
Long
by Black_Magic_Capital
2
LIMIT BUY AT 840$This is a Wyckoff Accumulation mode (same as BTC) Phase A - Preliminary support is identified ! Selling Climax is done ! Automatic Rally is done ! But BIDs are absorbing The range is identified definitely ! Phase B - Kissed twice close to level, confirmed by Secondary Test. In additive Yesterday FOMC Rate decision (by hiking 0.75) drived price below level. Phase B is done Phase C "Spring" is on the way.... let's see what price will be targeted ! LOW Volume (JAN 21) is on process to be filled ! 839$ (IMO) is the price where Volume is more than poor ! We might get back to chis level ! ASKing price is OPTIMAL ! ETHERIUM stay a Great project, no matter Scalability issue. Testnet on Bacon Chain done successfully ! Once POS will trigger (POW might be over), the way above 8k figure is certain !
by UnknownUnicorn6367453
I am not adding to my Long in BTCI don't buy this as a useful rally that will lead to big gains. 1. We have not yet explored the bottom of the structure. This wick begs to be filled. When we were in it there was plenty of liquidity down there to be tapped. 2. As I showed last week, the upper part strongly resembles a Wyckoff Distribution, and now we have this move as the possible UTAD. 3. Volumes are unexciting, plus if it IS the creek getting crossed, then we will see the re-test and go. This would be around $30,250 4. Moon Carl just said he was "ALL-IN on this BITCOIN BOUNCE!!!". He represents the retail trader's reactions and emotions. 5. I am already long. To get me to go longer I need more evidence than this. I want to see the longs squeezed out. This move just adds to the number of longs that can be slaughtered. Zoom out and you see that what looks like an exciting impulsive move is jack s__t in the big picture: I am happy being a bit long, just in case, but I'm going to wait for a higher probability trade, thanks.
COINBASE:BTCUSDLong
by Paul_Varcoe
11
BTC made friends with 3D 200MAThis BTC chart includes a distribution schematic for Wyckoff events and phases… Price failed to breakdown support in Phase D then began to develop additional support at the 200MA. Nice. The schematic may not be 100% accurate when it comes to placement levels and timing of phases but this correlation is interesting and worth watching. 🔮 Expecting 1/2 scenarios to play out. Scenario 1 200MA holds and we a see a strong move upwards to confirm continuation. Scenario 2 200MA fails as support and we test liquidity below. This can be quick or sustained throughout 2022. Price action around $25k range will be interesting.
B
by PoeticVectors
1