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Wyckoffdistribution

BTC Wyckoff Distribution. Are we sure the pattern is complete?Short-Med term bearish, long term bullish ( i believe this cycle still has to finish correcting before we can start accumulating foe the next one). Just my own opinion but I'm seeing that everyone is all bullish because we've just had a pump, & people are now thinking we're in the Wyckof Accumulation phase.. Are we forgetting that the Wyckoff Distribution has 2 big tests on either side & all look rather symmetrical? The one earlier was not big enough to be that, & the leg down not long enough. You couldn't call that one a "Fakeout test", it was just a re-test. Wyckoff Distributions commonly have a last big Fakeout to exhaust more retail supply & induce one more big shorting opportunity before coming down to consolidation & accumulation phase. Are we forgetting too that sub 50% is a cycle correction? Most parabolic pumps correct 60-80% before accumulation, both in micro & macro. 2017 ATH corrected 81% before finally ending correction late 2018. This has happened alot quicker, & there is more institutional money this time so i wouldn't expect an identical correction but we have to expect that an end of cycle is generally more than 55%. So i feel that this isnt done yet, this is a test, & the Wyckoff pattern & head & shoulders still has to compete before the next cycle can begin. Another thing i would add is ive been following the chart with a Fib Spiral since just early January, just after the retest down after the first big test. The same pattern that forms waves, clouds etc. By the time we got to Wave no 3 i noticed the wave peaks were plateauing out, in line with the shape of the spiral. I had a big feeling Wave no4, 64k was the peak but i didn't trust my own judgement cos im still learning. But by the time we got to Wave no5 i realised that the bigger wave, the whole cycle, was about to break. So i cashed everything to stables & ultimately avoided a whole lot of pain. So given the whole cycle seems to be shaped by the spiral, the fact that the first big test up, on the upside, & the recent big test up on the downside, are almost identically opposite each other at around the same price level, rings major alarm bells for me. They look far too symmetrical to me to be a mere coincidence, & remember symmetry is such a common thread in chart patterns, head & shoulders/double bottoms/double tops ect. So i think there's a high chance we haven't finished our correction from ATH yet. there's too much adoption & fundamentals now for it to be a full 80% correction like 2017, but i think 65% is highly likely. We also have to take into account the fact the announcement just after NY trading hours finished, on monday, the same day of the biggest buying volumes in months, that Tether is being taken to court by the DOJ over fraud, something they will have a harder time defending than Ripple over the SEC. So its highly likely that the sudden trading volume was Tether insiders & Bitfinex hurredly offloading Tether for BTC in advance o the announcement. Given how much Wyckoff activity is all market insiders i find the coincidence between the pump & the announcement on the same day very suspicious. So again, another reason to believe that this "Breakout" is a fakeout & not a trend. Tread carefully.. But of course the much bigger picture, across cycles is still up.. 2017 ATH corrected 81% & then the next ATH was 13-14x that. So if we repeat the pattern then the next ATH is about 260k. But i dnt believe that will happen for another year. And the sooner we finish correcting, the sooner we can start accumulating, & the cheaper the buying will be.. Tread carefully, don't FOMO in, wait a little to see what happens. I'm certain this correction isn't finished yet.. Take care & look after yourselves :)
Short
by Destyd77
1
EURUSD Wyckoff Analysis: ShortThe market did move narrowly and had a fake breakout. That is typical for whyckoff phase D during distribution. PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching. BC—buying climax, during which there are often marked increases in volume and price spread. The force of buying reaches a climax, with heavy or urgent buying by the public being filled by professional interests at prices near a top. A BC often coincides with a great earnings report or other good news, since the large operators require huge demand from the public to sell their shares without depressing the stock price. AR—automatic reaction. With intense buying substantially diminished after the BC and heavy supply continuing, an AR takes place. The low of this selloff helps define the lower boundary of the distribution TR. ST—secondary test, in which price revisits the area of the BC to test the demand/supply balance at these price levels. For a top to be confirmed, supply must outweigh demand; volume and spread should thus decrease as price approaches the resistance area of the BC. An ST may take the form of an upthrust (UT), in which price moves above the resistance represented by the BC and possibly other STs before quickly reversing to close below resistance. After a UT, price often tests the lower boundary of the TR. SOW—sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume. The AR and the initial SOW(s) indicate a change of character in the price action of the stock: supply is now dominant. LPSY—last point of supply. After testing support on a SOW, a feeble rally on narrow spread shows that the market is having considerable difficulty advancing. This inability to rally may be due to weak demand, substantial supply or both. LPSYs represent exhaustion of demand and the last waves of large operators’ distribution before markdown begins in earnest. UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts, a UTAD is not a required structural element: the TR in Distribution Schematic #1 contains a UTAD, while the TR in Distribution Schematic #2 does not.
Short
by libertasrei
1
LATE SHORTERS(GENIUS) SQUEEZELate shorters , were bullish just a few days ago, who thought yesterday that " oh 30k support is broken I will short here, I am a GENIUS!!" people will be wiped out with the latest pump action. This green movement will stop when they are liquaidated and/or long again. Probably at most 32.5k - 33k . Still Supply trendline shows 31500 is the turning point but I think we will have a fakeout considering Elon Mush charlatan will make some pumping talk tonight in his crypto debate. Check my related ideas below. Not a financial advice, just amateur ideas, thoughts.
BITSTAMP:BTCUSDShort
by burakb
3
Wyckoff Distribution Trade SetupSo OANDA:AUDUSD has been forming a textbook Wyckoff distribution pattern and is hanging by a thread atm. We are currently entering phase E which according to the Wyckoff distribution schematic is a markdown phase. You can clearly see the price manipulate the highs and break down out of the structure. If you still haven't shorted yet you might want to wait for the falling wedge to break or wait for some type of institutional candle of some sort. Targets would be according to my fib levels around the .382 and the .618 retrace. Follow for more trade setups! Good Luck traders! NOT FINANCIAL ADVICE!
Short
by SpaceBlobb
Wyckoff on EUI loved this markup because it shows me I'm thinking better about charting and WHY a move is made. So This played out nice. I think it will still clear a bit more liquidity at the top before heading back down IF the downward trend is over this is a good place to go higher. There was several OB's unmitigated that got filled the last 2 days. After the news drop it went back up then down and on its true path. The buy and sell were off unmitigated OB's with entry from 5M TF So this started a a sell yesterday that turned into a buy today.
by dimpil132
XAU USD Order flow is BULLISHHey Guys, Gold is done with a very long term accumulation as we have finally broken structure upward, and on this current pull back we see once again we have accumulated by manipulating lows and breaking minor structure upward, that means pull back is done, expect up moves from here on. My zone of interest is the daily candle that took the final lows before the minor break of structure. Keep in mind this is a zone of interest and not an entry price, as price plays into the zone i want to see the lower timeframes accumulating as well, then when the lower timeframes are in line with the higher timeframes (when lower time frame orderflow is also bullish) then we enter for longs and take it to the moon.
OANDA:XAUUSDLong
by Hammoud8721
Wyckoff Accumulation, Last chance to get in before the big move!So I know many people are saying that this Wyckoff accumulation pattern has been invalidated due to the lower highs and lows we have been getting but I still believe this is part of the wyckoff accumulation and we are really close to the markup stage. Here is my argument to why its still valid. So first off wyckoff patterns are never 100% accurate and we can prove that by looking at previous charts and history. They all play out the same way in the end but the process might vary from chart to chart and coin to coin. These past lower lows we have been getting look really familiar with the distribution phase we had when BTC reached 65k. So I went back and looked at the distribution phase of BTC and inverted the scale so that it looked like a wyckoff accumulation instead of a distribution. As you can see: BTC did the same exact thing it is doing right now by forming lower highs and lower lows trying to shake the last retail investors before finally rallying up to 40k. In the image I posted BTC went for about 25 days from the (spring) stage to the launch up (inverted ofcourse). On this chart right now Its only been 20 days from the spring to where we are right now. If we add 5 more days that would put us at the 17th of July which is where Im personally expecting this big move to happen. Now if BTC breaks out of the falling wedge and retests that resistance as support that's a strong sign of bullish momentum. Also as soon as BTC breaks my green box around 36k it should according to the wyckoff accumulation pattern go straight up to 41-42k and form the pennant. Now this was quite a long post and I would really appreciate a follow or a like. If there is anything that isn't clear, feel free to ask me in the comments! As always, good luck traders!
BITSTAMP:BTCUSDLong
by SpaceBlobb
6
DXY Wyckoff DistributionNice and clear Wyckoff Distribution on Dolar Index. I will explain below what all the letters on this chart mean so that you can understand it better. PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching. BC—buying climax, during which there are often marked increases in volume and price spread. The force of buying reaches a climax, with heavy or urgent buying by the public being filled by professional interests at prices near a top. A BC often coincides with a great earnings report or other good news, since the large operators require huge demand from the public to sell their shares without depressing the stock price. AR—automatic reaction. With intense buying substantially diminished after the BC and heavy supply continuing, an AR takes place. The low of this selloff helps define the lower boundary of the distribution TR. ST—secondary test, in which price revisits the area of the BC to test the demand/supply balance at these price levels. For a top to be confirmed, supply must outweigh demand; volume and spread should thus decrease as price approaches the resistance area of the BC. An ST may take the form of an upthrust (UT), in which price moves above the resistance represented by the BC and possibly other STs before quickly reversing to close below resistance. After a UT, price often tests the lower boundary of the TR. SOW—sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume. The AR and the initial SOW(s) indicate a change of character in the price action of the stock: supply is now dominant. LPSY—last point of supply. After testing support on a SOW, a feeble rally on narrow spread shows that the market is having considerable difficulty advancing. This inability to rally may be due to weak demand, substantial supply or both. LPSYs represent exhaustion of demand and the last waves of large operators’ distribution before markdown begins in earnest. UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts, a UTAD is not a required structural element: the TR in Distribution Schematic #1 contains a UTAD, while the TR in Distribution Schematic #2 does not.
TVC:DXYShort
by Lzr_Fx