🎯 Target reached ! Wyckoff spring incoming ? - LDTP #13
Let's do the point !
Long time since the last update, didn't had time to post it before even if there is some thing that I will come back on.
✅ First : CONGRATS if you was in the short trade I posted the 1st of April (it wasn't a joke), target have been reached. If you are greedy you can push it to the yellow support line, to your own risk.
▶️ Secondly : I will finish to speak of the daily timeframe saying that my expectations stay unchanged. I think we will go to the support, here we will gauge buyers even if I'm really pessimistic in front of signals that give market. For me, the dynamic make me expect a spring in the Wyckoff pattern. No scenario that I wrote which could avoid the spring seems to take place so ... Take care the next few days. For more information about it, I will update the idea about this pattern, you can refer to it (attached to this idea).
▶️ Now, as each new # of LDTP I like to teach things, so I will come back to the LDTP #12.3 that I didn't had time to wrote this weekend. In the last LDTP #12.2, the main subject was to don't anticipate, wait buying volumes because we was between to pattern which could act one against the other. Conclusion : No buying volume == recovery of the downward dynamic and so the failed SOS of Wyckoff accumulation didn't said wrong. (You can refer to the next image with red circles)
▶️ But more important, something that I never talked about Wyckoff. If you pay attention you can see the pattern isn't the same that on the LDTP #12.2. Consolidation goes more high than what I would expect and reached the invalidation level of the Wyckoff Accumulation Pattern to turn it into a Wyckoff Redistribution Pattern. Wasn't expected it at all I won't lie. Won't lie also that difference between Accumulation / Redistribution & Distribution / Reaccumulation is only a question of experience. Easily recognizable by the orientation of the SPRING / UTAD but before it, it stay a question of dynamic, position, strengths and readings as before the SPRING / UTAD the structure is a neutral range. As we was on a strong level (POC) I turned it into the way of the daily consolidation but it seems that market chose the breakout of it in the way of the daily dynamic. It's oriented in the way of all LDTP I did before, saying that we will go to the daily support. But this further confirm that we are going for a spring in the daily WAP. As I said in the idea of the WAP, the linear movement is typically representative of the spring, reject all consolidation is another sign of it.
So in this pattern, we did the UTAD, we goes back to the support lines, succeed SOS around it, deep LPS to the POC of the range. I personally don't exploit it as much as accumulation and reaccumulation patterns (except to equilibrate exposure) but I wanted to show it, to know what is happening as always but also because it's important to don't stay focus on an idea and adapt yourself to the market, because it won't adapt to your vision.
Once again even if I didn't draw the good side, one thing to remenber is to not being positionned to the wrong way, that why it's more than ever important to not anticipate patterns ! Whatever they are be patient and wait signals. Here there wasn't bullish signals, no reason to lose money here.
▶️ A last thing one this picture : I already said multiple times the importance to learn to draw well your supports and resistances. That you need to not draw it with the actual price but only based on the past. If you try to find resistances/supports that match with the actual price to convince yourself that market will return now : it will not work. Here the proof of what I say ! I let the support and resistance of the downward channel that I spoke one week ago on the LDTP #12.2, you can see them with dotted yellow/blue lines. And you can also see the perfection of the market reaction on them. We can see actually the confrontation between buyers and sellers on it. Even if it should break at the end for all what I said before.
🛑"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"🛑
👉 Like, follow or comment* if you like, I need it to continue !
*Speaking of comments, come ask questions, come share your point of view, come debate, I need to feel that my without counterpart work is usefull for some !
Long time since the last update, didn't had time to post it before even if there is some thing that I will come back on.
✅ First : CONGRATS if you was in the short trade I posted the 1st of April (it wasn't a joke), target have been reached. If you are greedy you can push it to the yellow support line, to your own risk.
▶️ Secondly : I will finish to speak of the daily timeframe saying that my expectations stay unchanged. I think we will go to the support, here we will gauge buyers even if I'm really pessimistic in front of signals that give market. For me, the dynamic make me expect a spring in the Wyckoff pattern. No scenario that I wrote which could avoid the spring seems to take place so ... Take care the next few days. For more information about it, I will update the idea about this pattern, you can refer to it (attached to this idea).
▶️ Now, as each new # of LDTP I like to teach things, so I will come back to the LDTP #12.3 that I didn't had time to wrote this weekend. In the last LDTP #12.2, the main subject was to don't anticipate, wait buying volumes because we was between to pattern which could act one against the other. Conclusion : No buying volume == recovery of the downward dynamic and so the failed SOS of Wyckoff accumulation didn't said wrong. (You can refer to the next image with red circles)
▶️ But more important, something that I never talked about Wyckoff. If you pay attention you can see the pattern isn't the same that on the LDTP #12.2. Consolidation goes more high than what I would expect and reached the invalidation level of the Wyckoff Accumulation Pattern to turn it into a Wyckoff Redistribution Pattern. Wasn't expected it at all I won't lie. Won't lie also that difference between Accumulation / Redistribution & Distribution / Reaccumulation is only a question of experience. Easily recognizable by the orientation of the SPRING / UTAD but before it, it stay a question of dynamic, position, strengths and readings as before the SPRING / UTAD the structure is a neutral range. As we was on a strong level (POC) I turned it into the way of the daily consolidation but it seems that market chose the breakout of it in the way of the daily dynamic. It's oriented in the way of all LDTP I did before, saying that we will go to the daily support. But this further confirm that we are going for a spring in the daily WAP. As I said in the idea of the WAP, the linear movement is typically representative of the spring, reject all consolidation is another sign of it.
So in this pattern, we did the UTAD, we goes back to the support lines, succeed SOS around it, deep LPS to the POC of the range. I personally don't exploit it as much as accumulation and reaccumulation patterns (except to equilibrate exposure) but I wanted to show it, to know what is happening as always but also because it's important to don't stay focus on an idea and adapt yourself to the market, because it won't adapt to your vision.
Once again even if I didn't draw the good side, one thing to remenber is to not being positionned to the wrong way, that why it's more than ever important to not anticipate patterns ! Whatever they are be patient and wait signals. Here there wasn't bullish signals, no reason to lose money here.
▶️ A last thing one this picture : I already said multiple times the importance to learn to draw well your supports and resistances. That you need to not draw it with the actual price but only based on the past. If you try to find resistances/supports that match with the actual price to convince yourself that market will return now : it will not work. Here the proof of what I say ! I let the support and resistance of the downward channel that I spoke one week ago on the LDTP #12.2, you can see them with dotted yellow/blue lines. And you can also see the perfection of the market reaction on them. We can see actually the confrontation between buyers and sellers on it. Even if it should break at the end for all what I said before.
🛑"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"🛑
👉 Like, follow or comment* if you like, I need it to continue !
*Speaking of comments, come ask questions, come share your point of view, come debate, I need to feel that my without counterpart work is usefull for some !
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.