Wyckoffian Back-Up Complete?

24 thg 9, 2018

Looks like a final accumulation maneuver in Wyckoffian study, the 'Back-Up to the Creek' (BU), just before a major price increase.

Through the back-up (BU) phase, on the much shorter timelines, we see support/resistance peaks on both green bars when price is increasing, and red bars when decreasing....which pretty much means there exist both positive and negative indicators for the Composite Operator as to whether the new-found support at the 'Creek' is strong enough to validate a push through the overhead resistance.

I drew possible arrows both up and down at the end of the price action largely because my posts with actual predictions tend to be far less accurate than the ideas I do not post. :) However, for the record, I think the recent LPS push was too crude and hasty, and that we wont see much more than a bull trap above us.


Any Wyckoffians out there able to confirm the pattern, and/or provide more insight as to predicting the acceptance/rejection of the BU maneuver?

Cheers!

-B

PS Did I mention I got stopped-out at the SPRING test? Yeah. #jaded

25 thg 9, 2018

Ghi chú

We will try again, it seems.
Important to take note of the volume as we approach the bottom of the trading zone, ~6306. A good sign that we will be heading back up: larger red volume bars, as the red price bars grow smaller. That lets us know that we've hit solid upward support, and that the ridiculous 5% spread tests can begin again. :)

26 thg 9, 2018

Ghi chú

Came close to the bottom of the trading range with a heavy red volume bar, which is generally a short-term bull signal.
This is zoomed in to the 1 min scale. It's not technically a fractal... but these people run practically the same accumulation patterns on many different time scales, with the 'active' operator always working on the 1-min.

Basically, everything shown on the yellow line above, this operator has managed to draw in a single day.
These guys are in a hurry, which is not the typical MO.

Are they gonna go for the creek again, and show us some highs above the last sign-of-strength on the 4H chart? (~6700)
I'm not really sure what to expect since they are moving through the tests so fast.