Please see linked chart for full Wyckoff Analysis that was done live before trade was opened and as market unfolded, entry taken, TP projected etc.
This is a typical example of how I generate my trades.
See chart linked below for entry + analysis. TP has now been calculated and set.
I expect change of character + associated volume change + exit/retest of markup channel + new consolidation range in this TP area.
Left hand side of chart shows previous distribution range that we have been marking down from.
Chart is self explanatory. Forgot to add that there is a localised volume spike at the change of character giving a further confluence of something different now happening, ie, new consolidation range forming.
Chart is self-explanatory with full Wyckoff analysis.
TP could not be calculated with point and figure chart due to technical trouble on Trading View site. A crude method of 3 x trading range added to top of range was used. This was then reduced slightly to be on the safe side.
Usually, the TP is dynamic. As long as price stays in the markup channel as has been ...
See linked chart for full analysis on why I am long in this market.
This update shows confirmation of previous analysis and accuracy of scale in entry. Range retest happened exactly as predicted.
I also seem to have found the markup channel that price seems to be respecting. Leaving this channel would indicate to me a new consolidation range assuming other ...
Chart is self-explanatory. Notice the change of character on first peak - no decline has been this sudden since last consolidation range. The volume on the peak is also the highest since the markup (ignore news peaks). This 'change of character' tell us that something different is happening in the market now. It was in markup, so therefore, it may be safe to say ...
Phase A: We see clear buying climax and secondary test followed by an automatic reaction. This is the phase that stops the (up)trend. It also sets the bounds of the new consolidation range alongside the strength/angle.
Phase B: The biggest moves of the range take place here. They are declines seen as the sign of weakness. This change of ...
Volume increases towards top of range tells me that this may be distribution.
Change of character in range shown by largest decline painted in red, other declines are clearly smaller. May be in Phase C with UTAD (upthrust after distribution) now where positions are distributed, therefore a good place to short. I would expect price to spend some time outside the ...
Phase A: High volume on left shows selling climax as we leave previous markup channel which can be seen on far left in red dotted lines. Immediate rally is the automatic rally (AR) which sets the new Wyckoff range.
Phase B: Secondary test was lower than selling climax (SC) which added a support line.
Phase C: We can then see maximal volume at ...
Simple accumulation range found within bigger markup range therefore I'd class this as a stepping stone. It also makes it a higher probability accumulation range.
Phases clearly visible, however, can't get volume indicator on TradingView for this market for some reason. Volume was analysed using barchart.com which showed the peak at the lowest ...
Eventhough I wrote in the last idea that i put the SL in the wrong place on the chart and i haven't been stopped out, I've re-published the idea with the SL in the right place. Nothing in the analysis or entry has changed - this can be backed up by original publication link at the bottom.
A: Volume increase on peak followed by inability to ...
First consolidation range showed clear volume increase to show us selling cimax. Volume then decreased alongside change of character on the rally - suggesting a SOS (sign of strength) in an accumulation range. This is confirmed with a spring that has the peak volume of the range. I entered long on the test after the spring.
Towards the end of ...
Previous markup channel is obvious.
A: Not a huge increase in vol. after selling climax suggests reaccumulation.
B: Change of character suggests cause being built. Vol. decrease on SOS (sign of strength) and increase on dip (spring) gives away (re)accumulation confirmation.
C: Spring shows highest vol. signature.
D: Low vol. rally away from ...
See previous publication for full Wyckoff analysis.
Notice reduced volume rally after spring - typical accumulation volume signature.
Entering long on range retest/throwback.
TP will be dynamic and not fixed. Just placed it at 1.11-12 for the time being as a rough guide of 3 x trading range.