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Sell opportunity (wyckoff method) Wyckoff Rules Wyckoff’s first rule tells traders and investors that the market and individual securities never behave in the same way twice. Rather, trends unfold through a broad array of similar price patterns that show infinite variations in size, detail, and extension, with each incarnation changing just enough from prior versions to surprise and confuse market participants. Many modern traders would call this a shapeshifting phenomenon that always stays one step ahead of profit seeking. The second rule raises the misunderstood issue of market relativity, telling traders and investors that context is everything in the financial markets. In other words, the only way to evaluate today’s price action is to compare it to what happened yesterday, last week, last month, and last year. A corollary to this rule states that analyzing a single day’s price action in a vacuum will elicit incorrect conclusions. Wyckoff established simple but powerful observational rules for trend recognition. He determined there were just three types of trends: up, down and flat, and three time frames, short term, intermediate term, and long term. He observed that trends varied significantly in different time frames, setting the stage for future technicians to create powerful trading strategies based on their interplay. Alexander Elder’s Triple Screen method, outlined in Trading for a Living, offers an excellent example of this follow-up work. Follow us
by hediyahia32
DXY Dollar Index As Confirming Indicator for USD PairsDXY Dollar Index The dollar never quite reached the upside target here, falling 11 points shy of the 95.15 line before it was met with the most determined selling pressure we've seen throughout the entire rally from the lows. And although it's rallied from the 94.01 support line it has broken below the lower parallel now and so the 6 week-long 6% untrend is now in potential danger. Any failure to hold 94 here will create more selling back to 93.36-93.12 range at which point it should bounce away to the upside once again. This break below 94 is also needed to trigger the next EURUSD long, please see EURUSD update for more details. DXY is still probably the best confirming indicator we have for trading USD pairs.
TVC:DXY
by sumastardon
DXY Dollar Index: More Consolidating of recent gains likely DXY Dollar Index: Consolidating recent gains The dollar is consolidating recent gains after reaching a high at 94.06, some 14 points shy of the medium target here. My bad and not a fault in the chart, as there is old resistance at the 94.03 level from the end of last year, as the chart clearly shows. Sorry for that. Anyway DXY (and USD pairs) look like they have some more unwinding to do in the near term and DXY should come back down the small parallels it's beginning to form to the 93.12 line which must then hold if the dollar is to remain firm for the rest of the month from here. Any subsequent failure to hold the 93.12 line will trigger another near term bout of dollar weakness back to 92.55-92.25 and at the same time trigger EURUSD longs (and across most of the other pairs too.) On the upside, for the Dollar to escape this period of consolidation and avoid a retest of 93.12 it has to break back above the upper falling parellel from the high and then hold at the 93.36 first line of support on the first retest from above. But that looks unlikely in the very near term, as above.
TVC:DXY
by sumastardon
BRD/BTC Cup and Handle DipWe are in the buying zone right now. Every coin out there making CH formation so we can't be sure which one will play out like it should be. In this case we have an increase in volume and TD Buy signal is confirmed. I recommend swing trading this coin, it will make much more gains with swinging and daytrading strategies. The project is not a big problem solver or world changing idea so long term hodl would be foolish. Always trade with SL and don't forget to hitting the like button guys happy trading! :)
BLong
by WhiteSerpent
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