AXS/USDT
🟢entry: $47.660- $44.495
❌stoploss: $39.400
🎯tp1: $124.605
🔼potential %profit: +161.45%
🔽potential %loss: -17.33%
r/r: 9.32
Hi Everyone,
🧩AXS appears to be undergoing Wycoff Accumulation. During Phase A, we saw a -52% mark-down with moderate volume to Preliminary Support (PS) and a -67% mark-down to Selling Climax (SC) with moderate-high volume. After establishing a tight range for 2 weeks after SC, an automatic rally began with high volume.
🧩After the first AR, Phase B began, establishing a much larger trading range. Within Phase B, we see 2 Spring Tests (ST) with moderate-low volume. Following the second ST, there was another large AR with high volume. Beginning with the second AR and through today’s date, we see sustained moderate-high volume, especially compared to the previous trading volumes. This can be interpreted as large operators fully committing to large-scale accumulation.
🧩As price is currently at the bottom of the trading range, it is probable that we are coming to the end of accumulation by large operators and will see one last ST to establish the final shake-out before a mark up to begin Phase D.
🧩Based on this analysis, I am entering a swing long. I will enter at the bottom of the trading range and patiently hold the position, watching for price to demonstrate LPS and SOS to confirm my analysis. I will sell half of the position in the annotated range of anticipated distribution and keep half the position to be placed as price establishes the actual distribution range.
Check back for updates as the position progresses.
Feedback and constructive criticism is always appreciated.
✌️All good luck and always practice strict risk management!
🟢entry: $47.660- $44.495
❌stoploss: $39.400
🎯tp1: $124.605
🔼potential %profit: +161.45%
🔽potential %loss: -17.33%
r/r: 9.32
Hi Everyone,
🧩AXS appears to be undergoing Wycoff Accumulation. During Phase A, we saw a -52% mark-down with moderate volume to Preliminary Support (PS) and a -67% mark-down to Selling Climax (SC) with moderate-high volume. After establishing a tight range for 2 weeks after SC, an automatic rally began with high volume.
🧩After the first AR, Phase B began, establishing a much larger trading range. Within Phase B, we see 2 Spring Tests (ST) with moderate-low volume. Following the second ST, there was another large AR with high volume. Beginning with the second AR and through today’s date, we see sustained moderate-high volume, especially compared to the previous trading volumes. This can be interpreted as large operators fully committing to large-scale accumulation.
🧩As price is currently at the bottom of the trading range, it is probable that we are coming to the end of accumulation by large operators and will see one last ST to establish the final shake-out before a mark up to begin Phase D.
🧩Based on this analysis, I am entering a swing long. I will enter at the bottom of the trading range and patiently hold the position, watching for price to demonstrate LPS and SOS to confirm my analysis. I will sell half of the position in the annotated range of anticipated distribution and keep half the position to be placed as price establishes the actual distribution range.
Check back for updates as the position progresses.
Feedback and constructive criticism is always appreciated.
✌️All good luck and always practice strict risk management!
Trade closed: stop reached:
misread the market, stopped out for loss.