Wyckoffdistribution
BTC: Dreaming of a Red ChristmasBTC doesn't look healthy at all, from a bull perspective. For a bear though, it's looking robust and full of life! Watch out for the ascending wedge we are currently in. Exit liquidity looms around 17.5 to 18K USD. Do be careful if you're tempted to go long this holiday season; your Merry Christmas could turn into a Beary Crashmas literally overnight. Please remember to take profit or exit the trade if the PA breaks north from the wedge and enters the LV mitigation territory. You can thank me later.
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Wyckoff Accumulation in XPEVPreliminary Support (PS)
The first significant rally that occurs after a prolonged decline that indicates budding demand showing up. It is usually associated with a minor panic preceding that rally.
Selling Climax (SC)
A major panic that occurs at the end of a steep decline in prices. In its classical form it is typified by large range reversal in prices accompanied by large volume.
Automatic Rally (AR)
The rally that occurs after a Selling Climax. It occurs without previous preparation, hence the word “automatic.” The top of an AR usually marks the beginning of the coming creek.
Secondary Test (ST)
A name given by Wyckoff to the reaction following Automatic Rally, (or rally following the Automatic reaction.) If that test is associated with small range and light volume—it increases the likelihood that the previous trend is over.
Spring
A form of a test of a trading range. Characterized by pushing prices below support by the CM in order to check the status of supply. The market’s response to the spring indicates the nature of supply and demand forces for the near future.
Distribution at the 0.618 retracement Initial near term target is 385, point 381, lower target is 374
Could bounce from support in that target zone but if breaks below then likely will see a double bottom around 350, worst case more capitulation toward 300-318. Bigger picture its still trying to complete wave IV and begin wave 5 (which will result in new all time high in 2023). But we're not there yet
Is the distribution pattern on JBH now complete? (JBH:ASX)* Initial peak at the end of 2021
* Sharp retrace (automatic reaction) followed by quick rally into the secondary test
* Sharp fall again on most bearish volume in that period
* Long phase B of about 12 months
* Down moves so much quicker than the up moves
* Distribution occurring through this period
* Ultimate high in April 2022 forming an upthrust after distribution
* Very weak retest to complete Phase C
* Rapid decline in price from $57 to $37 approx in Phase D sell off
* One last rally to $47 approx
* Back up to the creek and upthrust to complete Phase D
* We should now start the Phase E mark down.
* P&F target is $10, conservative target $21
* This is my analysis of the stock. DYOR before making trades.
$BTC Wyckoff Markup 15m - Midweek DistributionHi guys,
So bullish news on Bitcoin, which means we should all buy now, right? Bitcoin is pumping and now we're getting on our rocket ships to mars.
Not so fast.
Rishi Sunak has become the Prime Minister of the UK, and it is said that he is a fan of Bitcoin and used to be an institutional trader, which is very good news in regards to the British economy and the British pound. I recently got out of my large short 'position' on the pound after a year of keeping all of my savings in USD even though my home currency is GBP because I saw a devaluation of the pound coming.
Back to Bitcoin; as I have been saying for weeks, I am seeing a relief rally up to $28-32k and we have now broken out with this good news. But now is not the time to go long.
Over the last couple of days we have been seeing a wyckoff markup pattern as shown below:
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Which can also be seen as an Elliott Wave 5-wave structure.
This is how prices react to good news.
Now, what I am seeing is a midweek distribution, which is quite common in weekly market patterns, before a dump towards the demand zone, shown in red at the bottom of the chart.
images.prismic.io
Cheers for reading and let me know what you think,
Tchau
Ethereum Supply PredominatesSupply is predominating in the current trading range for ETH, which denotes a potential redistribution range. And not only predominating but emerging at key junctures where demand should show its cards if a markup were on the books.: areas like TRR (range resistance) and TRM (midpoint 0.5%). It's not clear how deep the distribution can range, but things are (for now at least) looking a bit bearish. Favorable for DCA investors and short speculators.
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**Not financial advice. Always DYOR and trade at your own risk.
USDCAD: is a Wyckoff distribution schematic on?Hi Traders,
This is my view for this week on USDCAD:
I'll be long on a Intraday perspective. I'll wait for the price to reach 1.36 area. After that let's see what will happen but, probably, 1.40 will be a key area for a reversal.
I remind you that this is only a forecast based on what current data are.
I really hope you liked this content and I would like to know what do you think about this analysis, so please use the comment section below to give me your point of view.
Pit
DISCLAIMER:
Trading activity is very dangerous. All the contents, suggestions, strategies, videos, images, trade setups and forecast, everything you see on this website and are the result of my personal evaluations and was created for educational purposes only and not as an incentive to invest. Do not consider them as financial advice.
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Wyckoff Distribution - Phase E Capitulation Complete?The topping phase of BTC during the 2020 / 2021 bull run is A Typical of Wyckoff Distribution characteristics (see below link for more information).
Wyckoff Distribution: school.stockcharts.com
Following this price fractal suggests we are firmly in Phase E. The only question that is remaining is are we in our last consolidation / bear rally before one last capitulation dump as we saw in climatic fashion with both the 2014 and 2018 bear markets, OR have we already reached out cycle bottom accumulation range...
Smart Money SHORT | GBPUSDDuring the early stages of the LDN session, we have swept the Asian session highs and lows which is typically what I like to see when entering a trade like this.
LTF supply area I am targeting for entry.
Let's see if we get tagged in and where we can get to if we are tagged in.
Safe Trading!