I have been trading AUDUSD up and down throughout this Wyckoff setup, it's the first Wyckoff pattern I have worked with for several years. After moving to MEan Reversion, Elliott structures and COT data.
Where I feel Wyckoff can really help, is all around the concept of the composite man theory.
When market conditions are such, that retail are loaded up on net...
As per the last Wyckoff posts on NZDUSD - the software we use to plot the Elliott waves show a drop from the top of leg 3 down to a 4 on the weekly timeframe.
This is further supported by the level of exhaustion seen on DXY. It now needs to breathe, looking at the structural setup of the Wyckoff schematics we can see that we have had the PSY followed by the BC...
GJ LONG TO 142 -144 FOR THE LAST TIME BEFORE DROP , YOU CAN SEE THAT WE ARE IN A BEARISH TREND , WE WILL SEE IF GONNA RESPECT THE 4H SUPPORT AND MOVE TO THE UPSIDE IF WE BREAK THROUGH THE SUPPORT IT'S SHORT FOR LONG TERMS
