*Not financial advice*
Signs of a low timeframe wyckoff accumulation. Momentum is growing more bullish since the beginning of the trading range. Rising wedge (not drawn) is forming which could lead us back to the support lines formed by the Secondary Test (ST). Watch how price reacts when it approaches these support lines for signs of supply being absorbed. Tests can be good R:R for entries with stop loss at the low of the spring. If the price action breaks up through the resistance formed by the Automatic Reaction (AR) this would be a Sign of Strength (SOS).
Signs of a low timeframe wyckoff accumulation. Momentum is growing more bullish since the beginning of the trading range. Rising wedge (not drawn) is forming which could lead us back to the support lines formed by the Secondary Test (ST). Watch how price reacts when it approaches these support lines for signs of supply being absorbed. Tests can be good R:R for entries with stop loss at the low of the spring. If the price action breaks up through the resistance formed by the Automatic Reaction (AR) this would be a Sign of Strength (SOS).
Trade active
Stop loss can be moved to bottom of LPS or ATR to ensure this trade is breakeven. If you're building a position wkyckoff suggests adding at LPS. Look for signs of absorption at green box.
Trade active
The 3 largest red candles printed today are similar in size, but each subsequently has less volume.
Note
Looking for longs in green boxes with tight stops. Confluence with liquidity order blocks, fibs, weekly S1 pivot. If the green box at $7,215 holds this could be a retest of the bullish breaker.
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.
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.