1HR REACCMULATION COULD BE PLAYING OUT, JUST NEED TO SEE A BREAK OF STRCTURE TO THE UPSIDE
PRICE SPENT CONSIDERABLE TIME ABOVE THE BUYERS CLIMAX ZONE , NOT CONSISTENT WITH LIQUIDITY GRABS/MANIPULATIONS OF THE HIGHS IN A DISTRIBUTION
PRICE DID NOT SPEND ANY UNNECCSSARY TIME BELOW THE AUTOMATIC RESPONSE AND SIGN OF WEAKNESS LEVELS THUS PERHAPS FURTHER SUGGESTING A...
Long position is not set perfectly yet, it is merely a guide of my prediction, as the schematic plays out, it may further change, maybe even to a re-distro, the long position will certainly change, the target of the institutional candle for an accumulation would stay the same however.
Price should trade upto this 4hr imbalance and then play off of that to retrace to an institutional candle 290 pips below, this is a rough short position, a much more accurate one with a much great R:R should present itself at the time
- Wyckoff Accumulation schematic playing out
- I believe it to be an accumulation and not a re-distro because price is at the very bottom of a daily TF channel AND a trendline
- Trade should be entered when a clear LPOD (last point of demand) is made. Price could drop past the expected area due to market open volatility and also to catch liquidity so wait for...
Short term long, approximately 3.5R:R, trade posted 1 hour before Sunday market open thus gapping or large spreading could occur and wipe out SL so trade hasn't been placed yet
