GBPJPY - Wyckoff concept?

Not looked at Wyckoff concept for a while but watched a video the other day and found something similar after distribution. These guys were using an average level from accumulation/distribution. So with it being Christmas, I thought I would look into it again.

This looks like it is setting up for a drop - we could indeed be in phase C of the concept.

I would be keen to speak to others who trade Wyckoff and welcome comments and feedback below.

It would make overall sense for a weaker Pound - Although Brexit had a deal, there's a long way to go and I am not sure how good the deal truly is. We then have Covid - 21 to contend with. Which is likely to cause the UK more issues than most.

Daily Elliott is in an uptrend but looks like we have tagged the 3 wave extension - meaning it's due a pullback which could be this short here on the smaller Timeframes.


Happy New Year to you all.

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The BC was actually an LPSY setting the structure up much higher. Making this a re-accumulation and not a distribution. Hence the value of Wyckoff is not to get in until the Sow or Sos are broken.

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