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Wyckofftrading

XRP - Hidden Gem??Relatively speaking XRP has been shat on during this bull run with really no significant gains to get excited about. What I am seeing * XRP has been in a down sloping accumulation range since Oct 18 * Broken the down trend but had a capitulation event with very negative news a few weeks back * We have regained our position in a strong zone to the upside. * Note how we are sitting on top of a key supply zone which occurred on the 23rd Dec - nthe significant diff in volume between the two which means a lack of supply but demand also. * This lack of supply means we can have demand take over and push prices higher - this is becoming evident with the inability of price to move lower. * Watching for a break above 0.50 for a long. * Break below 0.40 will most likely see us to around 0.30 Wait and see.
by DecpBTC
3
No trades at the moment - WAIT AND SEEHi Team, We have entered a small trading zone at previous high which is expected as profit taking is occurring. Looking at the previous top will give us some clues. The FEB top was a quick distribution into a shakeout creating the liquidity for larger players to enter. Remember - distribution are generally quick and volatile whereas accumulation are slow with and time consuming with decreasing volatility. I have listed two scenarios here with neither more viable at this stage. I think overall we go higher after the prolonged re-accumulation we just had. Confirmations of bullish behaviour: *Supportive price at lower part of TR *Decreasing volatility *Relative long time in range *Testing event at support with strong recovery and subsequent support in the TR *Successful break of resistance with volume and support above resistance line Confirmations of bearish *Break down to 55K with no recovery in the TR *No support volume on the break to 55K *A break below support - retest to previous support and rejection *Quick time in range like in FEB Its wait and see at the moment. Remember you are looking to confirm bias which indicates who is winning; buyers or sellers. At the moment the short term bias is up; so we are looking to confirm each step. If we have a deviation from what we would see in a bullish bias it should alert us as a potential change in market conditions and we can begin to craft a trade in that direction.
by DecpBTC
2
Goofed by what I thought was distributionSo.. PLANS CHANGED! Took some time to see on the sidelines how price would decide to play. Seems like we've been trending bullish with strong inst. order flow, so as of right now and the way the higher TFs are looking -Daily shows great strength, as well as a BOS; this could be the impulse to begin our bullish move, after many days of bearishness (for the retracement)-. Now, I'm seeing re-accumulation. Price begins to trickle its way bullish after a retracement on both 4HR and D (Jan 14-17th), which to me, seems like the standard push-up-pullback bullish scenario you'd see in clean price action. GBPUSD RE-ACCUMULATION ON 4HR GBPUSD BULLISH BOS ON DAILY With DXY showing signs of bearishness on higher TFs, as well as taking into account future events like stimulus cheques being handed out; value on the DXY is sure to nudge lower with all that money being printed -just my hunch, lol-.
by JaquiQuill
Ethereum Wyckoff Accumulation Schematics AnalysisIn this post, I'll be analyzing Ethereum's Tether pair (USDT), using the Wyckoff Method. What is the Wyckoff Method? The Wyckoff Method was developed by Richard Demille Wyckoff, a famous technical analyst of the early 20th century. He proposed the idea that markets can be understood through a detailed analysis of its supply and demand, which is seen through price action, volume, and time. He developed the idea of correctly anticipating and judging the direction and magnitude of a move out of a trading range. Why does Wyckoff's Method work so well in cryptocurrency markets? We can see Wyckoff's accumulation and distribution schematics working best when applied to cryptocurrency markets. This is mostly because his theory assumes a "composite man", a being who, in theory, sits behind the scenes and manipulates the asset to your disadvantage if you don't understand the game he plays, and to great profit if you understand it. He event went as far as to say that it doesn't matter whether the market moves are real or not; whether it happens by real buying or selling, or artificial buying or selling by investors. As such, the Wyckoff Method is a perfect fit for a heavily manipulated market, such as the cryptocurrency market, as it allows traders to think like a whale. In the cryptocurrency market, thinking like a whale (a composite man) will help a trader profit tremendously. Terminology - Preliminary Support (PS): This is where substantial buying begins to provide pronounced support after a prolonged downtrend. - Selling Climax (SC): This is the point at which widening spread and selling pressure usually climaxes and heavy panic selling by the public is being absorbed by larger professional interests near the bottom. - Automatic Rally (AR): This is where intense selling pressure is greatly diminished. - Secondary Test (ST): A point in which price revisits the area of the Selling Climax (SC) to test the supply and demand balance at these levels. - Sign of Strength (SOS): A point where the price advances on increasing spread and relatively higher volume. - Last Point of Support (LPS): The low point of a reaction or pullback after a SOS. Analysis - Ethereum's chart on the 4h time frame can be interpreted from Wyckoff's accumulation schematics. - Phase A: This phase marks the stopping of the prior downtrend. Up to this point, supply has been dominant. - Phase B: This phase serves as a function of a new uptrend. This is where professional interests accumulate, at relatively low prices, in preparation for the next markup. - Phase C: This is where stock prices go through a decisive test of the remaining supply, allowing smart money investors to confirm a markup - Phase D: If the analysis is correct, this is the phase in which consistent demand dominates supply - Phase E: The asset breaks out, leaving the trading range, and the markup is obvious to everyone in the market. Counterarguments - While Ethereum seems to consolidate in a bull flag pattern, it currently seems to lack the strength and momentum required to break through the resistance zones, to complete its markup. - Nonetheless, the weekly chart remains dominantly bullish - While there is a lack of momentum on the shorter time frames, it could be said that Ethereum has secured its significant support levels - It could also be said that the Wyckoff Accumulation is taking place within the support zone of the weekly chart, indicating signs of bullishness. Conclusion While it's difficult to rely solely on the Wyckoff Accumulation Schematics for a clear picture of where Ethereum is headed next, it definitely help shed light on the price movement from an alternative perspective. Given that more volume flows into Ethereum, and the trend is supported by strength and volume, we could see the accumulation complete with a markup.
by Michael_Wang_Official