Wyckoff Analysis
A: Big volume increase on rally followed by inability to rally higher = buying climax. Consolidation range set.
B: Cause being built with sudden change of character - biggest rally since range started. Sign that something is now happening in terms of long/short by smart money. Gradual increase in volume towards C therefore rally seen as sign of weakness.
C: Biggest volume to date in range (ignore news peaks) at lowest point = spring. Accumulation and not distribution confirmed, tests done after spring too to doubly confirm.
D: LPS (last point of support) likely + thin move up after USD news = void fill may coincide with LPS before markup begins. Void fill also coincides with OTE 1.35% retracement. Green box = retracement levels 38.2-78.6. Can scale in at BUI (back up onto ice)/range retest.
E: not taken place yet - markup.
Lingering market at C region looks like a shakeout to loosen weak holders of EUR before they shoot price up.
Long in green box.
Confluences: void fill + OTE 1.35% level + LPS before markup.
NOTE: duration of retracement not drawn to scale.
A: Big volume increase on rally followed by inability to rally higher = buying climax. Consolidation range set.
B: Cause being built with sudden change of character - biggest rally since range started. Sign that something is now happening in terms of long/short by smart money. Gradual increase in volume towards C therefore rally seen as sign of weakness.
C: Biggest volume to date in range (ignore news peaks) at lowest point = spring. Accumulation and not distribution confirmed, tests done after spring too to doubly confirm.
D: LPS (last point of support) likely + thin move up after USD news = void fill may coincide with LPS before markup begins. Void fill also coincides with OTE 1.35% retracement. Green box = retracement levels 38.2-78.6. Can scale in at BUI (back up onto ice)/range retest.
E: not taken place yet - markup.
Lingering market at C region looks like a shakeout to loosen weak holders of EUR before they shoot price up.
Long in green box.
Confluences: void fill + OTE 1.35% level + LPS before markup.
NOTE: duration of retracement not drawn to scale.
Nota
Long was correct as confirmed by Phase C spring.Will look to scale in on retest as indicated initially.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.