What we are witnessing is the imminent stage of a distribution cycle happening before our eyes. Two of the great minds in charting, Wyckoff and Scott Carney's theories are put to the test. There are two differing bearish structures that are indepent of each other and authored by different people, but are currently simultaneously visible on a large timeframe, the...
Phase B looks a bit scuffed but this looks like big operators wanting to lure some people into thinking it's going to pump. I believe we are still going to downtrend after any potential pump that may come from this. The 5d and 3d are losing positive momentum quickly and that will mean a downtrend most probably.
Phase B looks a bit scuffed but this looks like big operators wanting to lure some people into thinking it's going to pump. I believe we are still going to downtrend after any potential pump that may come from this. The 5d and 3d are losing positive momentum quickly and that will mean a downtrend most probably.
New to Wyckoff methodology so I'm trying to spot setups. What do all you 200 IQ traders think?