tradingview.com/chart/oMF0sdyu/?symbol=BITGET:DOGEUSDT.P
Short Trade
Pair: NZDUSD
Tuesday, Jan 16, 24
9:00 am
Observation: Sellers in control on 1-hour time frame (TF), Phase E (Wyckoff method) indicating a downtrend trending outside the range.
Entry Price (BOS): 0.61573
Target: Base of range - 0.57912 (367.6 PIPS) = 5.97%
Stop Loss: 0.61813 (24 PIPS) = 0.39%
Risk-Reward Ratio (RR): 15.45
Short Trade
Pair: NZDUSD
Tuesday, Jan 16, 24
9:00 am
Observation: Sellers in control on 1-hour time frame (TF), Phase E (Wyckoff method) indicating a downtrend trending outside the range.
Entry Price (BOS): 0.61573
Target: Base of range - 0.57912 (367.6 PIPS) = 5.97%
Stop Loss: 0.61813 (24 PIPS) = 0.39%
Risk-Reward Ratio (RR): 15.45
Note
Observation 8th Feb 24
Downsloping acculmulation (trending to the outside range)
In the Wyckoff Method, a downsloping distribution (trending to the outside range) typically corresponds to 'Phase D' or the 'Last Point of Supply (LPS)' within the comprehensive Wyckoff Distribution Schematic. Phase D represents the conclusive testing and absorption of demand by smart money before an anticipated downtrend or markdown initiates. The downsloping nature suggests a diminishing demand, paving the way for a potential downward movement."
Note
Mark up...?
Notice wide candles
High Volume
14.00pm
31st Jan 24
Followed by
Preliminary Stop
Note
Target adjusted 14th Feb 24
Target: Base of range
0.58652 (292.2PIPS) = 4.75%
Stop loss: 0.61813 (24PIPS) = 0.39%
Entry Price: BOS
0.61573
RR 12.28
Trade closed: stop reached
20th Feb 2024 ...Consolidated for a month.
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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.