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Upthrust

Why S and R works so good - Spring & Upthrust WyckoffWelcome Traders to a new Educational Posts. Today we will have a deeper look at Support and Resistance. One of the most popular chart techniques out there, but the question?! Do they really work? Absolutely YES. But probably not like most of the traders think they do. That simple Break and Retest Strategy. NOOO! I would like to introduce you to the extended version of Support Resistance. The Wyckoff Spring and Upthrust. Wyckoff Spring and Upthrust In other words they are simply the Fake Outs at Support and Resistance Levels. The idea behind it is to get an entry exactly there where most of the trader will put their SL. -> WHY?! because of the LIQUIDITY The whole market is based on Liquidity (Supply Demand). The bigger fish will always win. Those who have the bigger amount will always dominate here. Just FACTS . So how do you want to position yourself in the market. Exactly there were 95% of the Retail Traders will put there SL? Or do you want to change your perception on how you view the market. This will completely change your view on the Forex Market. Supply Demand What I also do is I use my own style of Supply Demand to identify exactly those areas where most of the trader will put there SL and I will place exactly my Entry there with a very tight SL to get bigger Risk Reward. Of course I will not have that much of valid entries for my setups as they do not occur as often as Support Resistance Setups but the Total Risk Reward is a complete new Level. WHY? Example Upthrust Because you are rocking the market with the market movers. You are always clearing with these entries both sides. #1 Sellers at Resistance because of Upthrust #2 Breakout Trader(buy) because of Upthrust Sell is the right decision in this case but most of the Traders will lose that Trade due to SL hit. Everybody is placing the Entry and SL different but the majority is losing this trade. Spring Example This was the bigger manipulation as the price did a strong move to the downside through the level of Support. This level was a very interesting level for Retail Traders to buy. Doji occured for Price Action Confirmation but the price dropped down to the level of Demand. Why? -> Liquidity. All SL were located there so Market Movers had there buy limit order placed exactly there. Conclusion With this Post I do not want to judge Retail Traders using Support Resistance. Maybe you found a nice Strategy with that and you are profitable. I am also using Support Resistance but simply in a different way as you can see. I just wanted to share with you my thoughts behind Support Resistance and how I use them to be profitable Please leave a LIKE if you found this Post useful and share your thoughts below!
Education
by DariusFxTrading
3
S&P 500 trade review - from false breakout to break downLast Friday price action still favored the story of supply absorption pending rally up to test the all time high. Narrow spread together with decreasing supply could justify this bullish scenario. Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 17 Aug 2020 trading session. In this video, I am going to show you the market recap on the last session and potential trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). I will focus on two trades based on the false breakout (up thrust) setup to trading the breakdown. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later. Check out my daily market analysis video on last session if you haven't in order to better relate to the market recap and the trade review. Bias - neutral (Day trading); bullish (long term) Key levels - Resistance: 3385–3400; Support: 3360–3365, 3320–3330, 3300, 3273, 3230 Potential setup - Look for potential long near 3360 upon a rebound. Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
CME_MINI:ES1!
by mingjong
Dow Jones - false breakout to start the selloff - Sell in May?30 Apr 2020 recap - yesterday Dow had an increase of supply together with bearish price action, with the close above the support level 24270. Yet the futures during the London session now has broken the support level and currently testing 23880 level. A break below swing high at 24270 presents a false breakout scenario. If 23880 was broken, we should see a correction to 22950. The next important support level is at 22500 if 22950 was not defended. Bias - down Key levels - 24270, 23880, 22950, 22500 Potential setup - a rejection from 23880 should present a good opportunity for a short entry, with the take profit targets at 22950.
DJ:DJIShort
by mingjong
S&P 500 plunges with a false breakout - daily market analysisS&P 500 futures ( CME_MINI:ES1! ) continued yesterday's selling and plunged more than 2% below 2850 as of the London session now. The price action today before the US session revealed a false breakout on S&P 500. 30 Apr 2020 recap - Yesterday session had seen an increase of supply in synchronization with the bearish price action dropping 1.3% off the top for S&P 500. The only relieve sign was the close was above support zone between 2880–2900. The first support level at 2850 was broken during the London session. Inability to rally up above 2850 would likely to see S&P 500 to test the swing low at 2715. The next level of support is at 2635 if level 2715 is broken. The key level is at 2850. A recovery above 2850 could hold on the long-waited correction. Bias - down Key levels - Resistance: 2850, 2880-2900, 2960 (swing high); Support: 2760, 2715 (swing low), 2635 (axis line) Potential setup - A rejection off 2850–2860 should present a good chance for a short entry, with the take profit targets at 2760, 2715.
CME_MINI:ES1!Short
by mingjong
2
S&P 500 potential supply absorption daily market analysisCheck out the video above for a complete walk through of the daily market analysis of S&P 500 futures ( CME_MINI:ES1! ) for 29 Apr 2020 trading session. Close to the end of the video, I answered a question from reader regarding how to initiate short entry after an up thrust by revealing yesterday's intraday trade. 28 Apr 2020 recap - on the daily chart, S&P 500 futures had an up thrust of the swing high at 2885 as anticipated in my previous post, tested the supply zone near 2916, had a reaction to pull back to 2851, which is a support level and closed at 2867.25. Check out yesterday's idea where I mentioned anticipating an up thrust scenario below: Despite the up thrust movement was accompanied by increasing of supply, the results was not bearish. This could favor a supply absorption scenario where I expect higher target prices for S&P 500, while climbing the wall of worry. I anticipate S&P 500 to settle within the trading range between 2850-2910 before heading towards higher targets. If S&P 500 commits below 2850, this will violate the supply absorption scenario. Bias - neural to up, down (when below 2850) Key levels - Resistance: 2913 swing high, 2980 axis line Support: 2850 swing low Potential setup - a test or spring of the previous day low near 2852 could provide a good long entry with an immediate take profit target at 2910. A stop loss could be conservatively placed below 2842 or using smaller timeframe for tight stop loss.
CME_MINI:ES1!Long
by mingjong
Bitcoin's Possible Failure and RetracementCurrently, the price objective of the broadening wedge has not been hit, that is bitcoin's failure. If the top of the broadening wedge does not hold, then it will most likely retrace. In White, there was a small ascending triangle/Double top on the 4 hour time frame, and it broke out to the down side, it is possible that BTC will retest the top of the broadening wedge, which is around 10100 to 10000, failure of this area to hold will most likely indicate a retracement to the 6k levels as previously mentioned. This would also void the previous analysis of the parabolic move. There is still ample space in the 4hr RSI to fail, however, a bounce off of anything above 40 would still be indicative of bullish moment, however, if it fails to bounce in that region, then the daily must be analyzed to identify, whether bearish moment has seeped into a larger time frame. In addition, there is a bearish divergence, however, this may only be worth noting on this time frame. Previous Analysis:
COINBASE:BTCUSD
by CuddlyCuddles
LTCUSD setting up for a moonshot?We've got: A good series of up thrust days presenting a strong upward trend in progress A spike day on the 6th, suggesting a reverse in trend and a new relative bottom in place A cross over on the 10/20 moving averages A wide ranging day with a strong close (on an upthrust day!) further enforcing our trend and to top it all off - a classic flag pattern! All in all pretty bullish - almost too good to be true. Maybe a couple of days before it breaks out, maybe sooner. With today's pull back, it's possibly a good entry.
BITFINEX:LTCUSDLong
by lvturner
1