NVDA looks as though it has entered a distribution phase after reaching the 1.618 fib extension. Awaiting formation of UTAD (with low volume), to confirm the sell entry. Hard to gauge how far price will continue to rise in UTAD formation, so I would enter on the UTAD test, which will make it easier to spot full UTAD formation. Take profit would be around $318...
IBB looks to be in a Wyckoff Redistribution phase, with UTAD emerging currently. On a larger time frame, looks as though a weekly H&S patter forming with the re-distribution section acting as the right shoulder. My price target is $57, in line with the 1.618 fib extension.
IWM looks to be reaching the UTAD stage of a Wyckoff Re-distribution schematic. Lowering volume in the lead up to UTAD provides confluence to the idea. Expecting price to return to linear regression trend line around 120. Price could extend further, but I expect we are nearing the top of this rally and a sharp correction in 2024. Take profit level of 120...
- Double top formation forming on the Daily/Weekly chart - Head & Shoulders Pattern potential to form (2nd top in double top is the head of H&S patter) - Price has reached Fibo 0.618 extension, potential area for reversal - Mean reversion back to the long term trend line (excluding the inflationary impact of money printing) - News celebrating all time high,...
Looks like Enphase is reaching a Wyckoff accumulation phase with channel resistance helping to direct price into the accumulation schematic. Spring could bounce off resistance turned into support. Price to seek imbalance at the gap around 0.618/golden fib zone. This target zone coincides with a line of best fit/trend line through Daily price chart
Looks like BABA is going through Wyckoff Accumulation Schematic #1. Lows to be broken via Spring and then new bullish trend to emerge
SPY potentially could be in the beginning stages of a Wyckoff Distribution phase. Predicting price to gravitate between golden Fib zone for the UT & eventual UTAD before price falls in line with trend line ~320-330
SPY potentially could be in the beginning stages of a Wyckoff Distribution phase. Predicting price to gravitate between golden Fib zone for the UT & eventual UTAD before price falls in line with trend line ~320-330
Looks as thought BTC is heading for a spring as part of a Wyckoff Accumulation schematic.
EUR/AUD looks bearish on the Daily timeframe, when scaling down on the 4hr timeframe you can see the potential for a Wyckoff Distribution occurring. It looks as though we are entering Phase C of the Distribution and the potential for a UTAD to form. Further confluence is found in the long term downward channel, a false breakout would tie into the Wyckoff...
EURCHF looks to be potentially heading towards a Spring formation. On completion of the Spring, I would enter long to match the recent swing high.
NZDUSD looks to have completed its Spring within Phase C of a Wyckoff Accumulation Schematic. I would enter a long position to reach its previous swing high.
EURAUD looks to be in a Wyckoff Distribution pattern, awaiting UTAD formation to confirm sell bias. I would enter on a lower timeframe retest of the UTAD area using price action to confirm the sell.
Bitcoin is currently in "Phase C" of a Wyckoff Accumulation Schematic. The large wick shown on the 4hr timeframe looks to be the Spring (liquidity grab), so I would now expect price to increase, likely back to $60,000 at least.
CADJPY looks to be in Phase C of a Wyckoff Distribution. Price currently reflecting the UTAD, expecting price to follow the Distribution template on the chart.
Awaiting confirmation via spring on low volume to confirm a Wyckoff Accumulation phase and to initiate a long position.
XRP looks to be going to through a Wyckoff Re-Accumulation Phase. I would expect price to reach previous highs and continue increasing.
Tesla looks to potentially be going through a Wyckoff accumulation cycle. If confirmed, I would look to enter at the spring and for price to at least match its previous high (more likely to $1000 in my opinion).