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Wyckoff Accumulation Bitcoin 1H At this moment the accumulation is at a critical point, in the first post about Wyckoff I assumed that the price was behaving as Schematic #1. However due to the extended fourth wave there is a possibility that it is switching to Schematic #2, this would than result in more of a trading range for the coming days instead of high volatile price action. The retrace of last night was perfectly supported by the 0.66 (The top of an extended version of the golden pocket) of the fib retracement of the first wave. It was was also supported by the .236 fib retracement of the third wave (since there was no close below it). However, we should have a second test of the resistance level at ~40,500 within 24h. When this test does not happen we could see a low earlier than predicted. Next to this, we can see a breakout form a relatively simple rising wedge pattern, the target of this breakdown is around the same region as the spring of Wyckoff in Phase C. However keep in mind that the resistance line (prior support) is not tested and thus not confirmed, this can lead to the fact that the pattern breakdown is uncertain. As well I want to apologise for the misleading titles of the last two days in which it said that it is a distribution instead of an accumulation. A distribution is entered with an uptrend and an accumulation is entered with a downtrend.
BITFINEX:BTCUSD
by DaanVerbeek
12
Wyckoff on SPX I hope this helps some Im not expert of trading or anything as everyone no matter how good they think they are has something more they can learn, but Ive come a long way from what my charts used to be they're becoming more and more accurate every time i post as i continue to learn markets and the way they move. This also works during an accumulation period as well thus why i think BTC is not done going down yet. On the SPX we have a distribution pattern forming with good volume to prove such. PSY—preliminary supply BC—buying climax AR—automatic reaction ST—secondary test UT—upthrust SOW—sign of weakness LPSY—last point of supply UTAD—upthrust after distribution Now in this example Ive shown a pre-emptive example of the UTAD where as it could possible be the LPSY or the last point of supply and not continue past the previous UT or Up Thrust The AR and ST are Lines of support where as the BC and UT are lines of resistance the way the market is acting this looks to be a very typical Wyckoff pattern where as it wont be EXACTLY perfect to the chart Ive given it should make the same movements. so trade wisely if you're not confident in time frames please use only shorting and longing methods on the individual stock instead of the options and I hope everyone is able to make some money cheers all CryptoLeroy out!
SP:SPX
by CryptoLeroy
4
Wyckoff accumulation in ETHUSDThe price action of ETHUSD since August 2018 is neatly following the standard Wyckoff accumulation pattern. Although some look at it as a bearish pennant which is breaking down, this idea tries to show the bullish potential of Ethereum. It is also to be noted that the ETHBTC pair has basically bottomed around the point indicated as SPRING, by touching several historical support lines, adding to the support at this price level. Although some small downside can still be expected, the pattern should resolve in an impulsive markup within days, with first target around $300, and expected further upside.
BITFINEX:ETHUSDLong
by ZZip
4
Wyckoff-ceptionAn update on my previous chart, still learning but noticing the way the 'fractals' are inside each other, playing out different wyckoff accumulation/distribution + (re) inside and between each other on different timeframes. I felt a bit stumped after seeing we were inside a distribution pattern on the 4hr and wondering how it could work out that we were also in accumulation on the 1hr until I came across a couple of schematics that made it possible to keep both patterns valid. *Targets inside the trading range will most likely be out somewhat, but we'll see if the general movement plays out.
BITFINEX:BTCUSDLong
by notmeanymore
1
UNG Wyckoff Accumulation PatternUnited States Natural Gas Fund appears to be in the process of heading into the Back Up(BU) phase of a Wyckoff Accumulation pattern after levelling off in the $7 area after seeing a ~75% decline from the August '22 high near $35. There is also an ascending triangle pattern forming in phases C and D which tend to result in higher prices as UNG puts in a series of higher lows. What we want to see as a sign of strength going forward is for price to move above the upper blue line of the triangle pattern and follow the trajectory of the orange arrow which represents the anticipated path for price. I've been in UNG since 7/20 with a buy price of $7.36. Current stop-loss order is at $6.61. No upper price target for now, just watching and waiting to see if price can break above the short-term resistance level at the upper triangle line near $7.85.
AMEX:UNGLong
by PrepForProfit