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Wyckofftrading

Goofed by what I thought was distributionSo.. PLANS CHANGED! Took some time to see on the sidelines how price would decide to play. Seems like we've been trending bullish with strong inst. order flow, so as of right now and the way the higher TFs are looking -Daily shows great strength, as well as a BOS; this could be the impulse to begin our bullish move, after many days of bearishness (for the retracement)-. Now, I'm seeing re-accumulation. Price begins to trickle its way bullish after a retracement on both 4HR and D (Jan 14-17th), which to me, seems like the standard push-up-pullback bullish scenario you'd see in clean price action. GBPUSD RE-ACCUMULATION ON 4HR GBPUSD BULLISH BOS ON DAILY With DXY showing signs of bearishness on higher TFs, as well as taking into account future events like stimulus cheques being handed out; value on the DXY is sure to nudge lower with all that money being printed -just my hunch, lol-.
by JaquiQuill
Ethereum Wyckoff Accumulation Schematics AnalysisIn this post, I'll be analyzing Ethereum's Tether pair (USDT), using the Wyckoff Method. What is the Wyckoff Method? The Wyckoff Method was developed by Richard Demille Wyckoff, a famous technical analyst of the early 20th century. He proposed the idea that markets can be understood through a detailed analysis of its supply and demand, which is seen through price action, volume, and time. He developed the idea of correctly anticipating and judging the direction and magnitude of a move out of a trading range. Why does Wyckoff's Method work so well in cryptocurrency markets? We can see Wyckoff's accumulation and distribution schematics working best when applied to cryptocurrency markets. This is mostly because his theory assumes a "composite man", a being who, in theory, sits behind the scenes and manipulates the asset to your disadvantage if you don't understand the game he plays, and to great profit if you understand it. He event went as far as to say that it doesn't matter whether the market moves are real or not; whether it happens by real buying or selling, or artificial buying or selling by investors. As such, the Wyckoff Method is a perfect fit for a heavily manipulated market, such as the cryptocurrency market, as it allows traders to think like a whale. In the cryptocurrency market, thinking like a whale (a composite man) will help a trader profit tremendously. Terminology - Preliminary Support (PS): This is where substantial buying begins to provide pronounced support after a prolonged downtrend. - Selling Climax (SC): This is the point at which widening spread and selling pressure usually climaxes and heavy panic selling by the public is being absorbed by larger professional interests near the bottom. - Automatic Rally (AR): This is where intense selling pressure is greatly diminished. - Secondary Test (ST): A point in which price revisits the area of the Selling Climax (SC) to test the supply and demand balance at these levels. - Sign of Strength (SOS): A point where the price advances on increasing spread and relatively higher volume. - Last Point of Support (LPS): The low point of a reaction or pullback after a SOS. Analysis - Ethereum's chart on the 4h time frame can be interpreted from Wyckoff's accumulation schematics. - Phase A: This phase marks the stopping of the prior downtrend. Up to this point, supply has been dominant. - Phase B: This phase serves as a function of a new uptrend. This is where professional interests accumulate, at relatively low prices, in preparation for the next markup. - Phase C: This is where stock prices go through a decisive test of the remaining supply, allowing smart money investors to confirm a markup - Phase D: If the analysis is correct, this is the phase in which consistent demand dominates supply - Phase E: The asset breaks out, leaving the trading range, and the markup is obvious to everyone in the market. Counterarguments - While Ethereum seems to consolidate in a bull flag pattern, it currently seems to lack the strength and momentum required to break through the resistance zones, to complete its markup. - Nonetheless, the weekly chart remains dominantly bullish - While there is a lack of momentum on the shorter time frames, it could be said that Ethereum has secured its significant support levels - It could also be said that the Wyckoff Accumulation is taking place within the support zone of the weekly chart, indicating signs of bullishness. Conclusion While it's difficult to rely solely on the Wyckoff Accumulation Schematics for a clear picture of where Ethereum is headed next, it definitely help shed light on the price movement from an alternative perspective. Given that more volume flows into Ethereum, and the trend is supported by strength and volume, we could see the accumulation complete with a markup.
by Michael_Wang_Official
Liquidity is What is gold doing - A Smart Money TutorialFollow along with me here since I posted my last idea about this (see my linked ideas) Gold has done some interesting stuff. And now that I've had time to digest it, I understand what's going on (kinda). Ever had a trade where you knew you had the trade correct, it hits your sell limit and takes off and your twenty pips up. And before you know it, you 50 pip stop loss was hit, ever had that happen? That's liquidity and the banks/institutions know how to take it. My last Idea said there were bear candles that haven't been mitigated. This is a buy-to-sell or sell-to-buy candle that institutions do to either take out liquidity or create a better position to make more profit (if the make a large sell and it drops them 50 Pips, they quadruple their order to buy it convinces everyone else to buy, thus the banks make more money) But they're still holding that sell position. And that's the candle that needs to be mitigated. Meaning they need to get back to that candle so they can release their sell position so they are not in draw down anymore. and banks and institutions trade with millions of dollars so they can afford all of that draw down, but they don't want to lose that profit. So there is always game of mitigating candles. And with gold it's been happening a lot with the last down candle from the major 1000 point drop in one day. If you follow all of the down candles you'll be able to spot them, but I digress. Now, they still haven't mitigated the candle mentioned in the linked idea. And instead of mitigating them first Gold created a lot of liquidity and went straight for that liquidity. Now, Liquidity is where the money is, where people have their sell/buy limits, sell/buy stops set and their stop losses. Because once you hit a limit or an area someone would want to market execute, then you have liquidity. Typically these are highs lows, or equal highs and lows of a schematic. In this markup all of the blue lines represent where liquidity is (was in one case), because that's where you would set your limits and expect them to go the opposite direction, Amirite? Well the banks now this. So they will create these areas on purpose and go straight through them to take your money. Look at Liquidity 1 and then look at the red line I have showing the price action shooting up straight through that. Most retail traders had their sell limits right at the top of those double tops. So the banks just bought through them and took all of those retail traders out. Are you following me now? So now go back and look at the whole chart I drew up and where all of the liquidity is. The question is, which liquidity is it going to tak out first? and that's how you know when to sell or buy. But each of those liquidity areas were created for a reason, to trick retail traders into doing the same thing they would normally do. If you do sell or buy when it's taking out liquidity, your first target should always be close to your next nearest high or low becuase those highs or lows can have mitigation candles in them. The second target should be after the high or low as your taking out liquidity as well with this. And then you might have to close your trade and swap to the other side and do the same. Just follow liquidity and you'll know when and where to trade. OANDA:XAUUSD
OANDA:XAUUSD
by BodiesXWix
Litecoin's Sign of Strength is Near - Buy (Wyckoff Idea)The 30 Min Litcoin Chart from the previous fall looks very similar to a Wyckoff Accumulation Schematic. These Schematics Can be found on any time frame. I have marked every point that you would see in a Wyckoff chart. We're jjust waiting on the sign of strength to "jump across the creek" Maybe have a little shake out before the distribution continues. We're at discount prices, the volume continues to gte lower and lower. Find a dip and go long. Any Wyckoffian's out there have any input? COINBASE:LTCUSD
KRAKEN:LTCUSDLong
by BodiesXWix
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