Don't overthink this.
Please keep in mind wyckoff accumulation is simply a range with some extras. If you think it's more complex than it is, just keep these things in mind:
SC is a selling climax
ST is a (re)test of that level
AR is an automatic rally
LPS is a last point of support
SOS is a show of strength
The definitions speak for themselves.
Please keep in mind wyckoff accumulation is simply a range with some extras. If you think it's more complex than it is, just keep these things in mind:
SC is a selling climax
ST is a (re)test of that level
AR is an automatic rally
LPS is a last point of support
SOS is a show of strength
The definitions speak for themselves.
Note
this overall was not a terrible trade and i understand why i took it originally, and would likely do it again. Lesson that was learned here is that we can have the right idea, but be in the wrong phase. This was an upthrust which arguably *is* a show of strength in accumulation, which is the fakeout you see here with a drop back into the range. (wyckoffanalytics.com/ it is talked about in one of their videos on youtube)
So, I think it is worth observing that volume was actually more sustained with stronger momentum on this upcoming breakout. The Change of Character and the clues we're seeing in other pairs supports this breakout bias.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.