I’m just studying Wyckoff. I know nothing. Assume I’m wrong.
To me this looks like the end of a distribution range and the beginning of the markdown phase. Last week I shorted at the LPSY and closed when the price reached support. With today’s price action and volume so far (it’s midday), I think we are seeing sig s of no demand as it tries to move back up to what was support.
To me this looks like the end of a distribution range and the beginning of the markdown phase. Last week I shorted at the LPSY and closed when the price reached support. With today’s price action and volume so far (it’s midday), I think we are seeing sig s of no demand as it tries to move back up to what was support.
Note
I placed my stop loss too low and was stopped out of the trade yesterday. The loss was minor: 0.5% of my trading account.I still believe in my thesis so I entered the trade again this morning. See image.
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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.