Over the last 3 years, EURUSD has undergone a classic Wyckoff method accumulation, starting with a selling climax in early 2015, and ending with a Sign of Strength and Backing Up Action in the second half of 2017. The Mark Up phase is well underway, and horizontal Point and Figure counts that span the width of the accumulation point to the potential for new highs...
The Wyckoff cycle is a well-known price cycle that is really powerful. In 2 years of trading, I never saw anything that close to it, at least not on a higher timeframe like the daily timeframe . It is clear as day! That being said, could we consider an upside continuation for 2018 ? USD would continue to lose value, pushing the price up? EUR would go up as well?...
Cumulative volumes divergence shows that supply has been dried up. Yesterday, there was bearish trap, which can be consired as Wyckoff spring. 2 possible strategy 1. Aggressive - buy at spring test, SL below spring low 2. Conservative - wait for first wave up. If volume picks up, wait for low volume pullback/test and go long. In case of breaking to downside,...
I've been studying Wyckoff for a while now, but I have a renewed vigor in the last few weeks when it comes to bitcoin. Much of it is easy, but I always have trouble when it comes down to re-accumulation or distribution - or flip side, re-distribution or accumulation. Anyway, long story short, i think the strength of the spring says that this is not a...