Posted again for easier reading and viewing of text bubbles. For whatever reason, Trading View program scrunches up the charts on the cover chart; making me post another copy to make it easier to view and read. Simply click on the chart below to see it in a larger view.
It's important to note I used the 7-Day TF as a means for determining the EVENTS for this Schematic. Wyckoff Rules and Schematics SHOULD only be applied with 7-Day TF or higher where at all possible.
After close examination, I've found ETCUSD to be in progress of a Wyckoff Distribution Schematic.
Here is an image of a Wyckoff Distribution Schematic : https://i.imgur.com/nOJl0Dd.png
If you were to take a look at the following article at Distribution Schematic choices, you may see why: http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method
I will follow up shortly with indicators added...
A couple of more additions before getting into indicators:
Also edited the white text bubble with purple trim and purple text to say, "....Phase B to C" instead of A to B.
This is the 4-Day TF:
I would prefer to see the reversal ahead of time in the 2-Day or 1-Day (1440m) TF to get an indication sooner of potential reversal.
Sure... You're welcome.
I'll have to check it out later after my nap. I've only had about 2.5 hours sleep. I had my alarm wake me up for the Senate Committee Meeting earlier.
I'm no good without a decent amount of sleep. If you haven't heard a response from me in 8 or 9 hours, remind me again. I get email notifications when someone makes a comment in a publication.