Looks like the first phase of a wyckoff cycle is in play. I'm waiting for E1 to be met before going further with the trade. If we see a bounce from that level and a break of the test (green resistance) we should see a volitile rise in price. My bias sways bullish in this move past resistance because it will also be breaking the downward channel similtanously. This is all pure speculation and I currently have no position entered until we reach E1.
For anyone who thinks this is complete bullshit, I recommend you look at a Wyckoff cycle and see how this accumulation zone very closely resembles the theory. Check out the link below and look at the far left "Accumulation Cause."
sites.google.com/sit...ome/Screenshot-1.png
For anyone who thinks this is complete bullshit, I recommend you look at a Wyckoff cycle and see how this accumulation zone very closely resembles the theory. Check out the link below and look at the far left "Accumulation Cause."
sites.google.com/sit...ome/Screenshot-1.png