FTM USD - Potential Wyckoff Accumulation Pattern
Updated
FTM USD looks to be creating a Wyckoff accumulation schematic.
Price is currently showing signs of putting in a "spring" and we could expect to see one last test of the lower level of horizontal support which is where I am aiming to take an entry. Aiming to take profit at the top of the range.
Price is currently showing signs of putting in a "spring" and we could expect to see one last test of the lower level of horizontal support which is where I am aiming to take an entry. Aiming to take profit at the top of the range.
Comment
Here's a break down of how I am using a lower timeframe to refine my entry. Comment
Currently showing signs of LPS (Last Point of Support) which creates a higher low before moving higher.
Some would suggest that we should expect to see an increase in trading volume here. Though we are not seeing that yet.
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