The Elephant Jungle Page 7

So now we’ve dropped down to the 15m timeframe, and wouldn’t you know it, we’ve got a 15M range forming. Two taps at the low. One tap at the high. That alone puts a Wyckoff Accumulation on the table. The real question is which model the market wants to play. Model 1 Accumulation: Price sweeps the range low a third time, then pops back up toward the range high. If this plays out, the Macro Range Low could get swept as well, opening the door for a move into the 1M Demand Range. And if that move holds... I’d say there’s a real chance we could eventually see ATHs again off that bounce. The second play is a Model 2 Accumulation, which would show up as an inverted head and shoulders. All the criteria are there. We’ve got a 45m Internal Demand Range to bounce from, and there’s even a clean 15m order block sitting above it. This could be the area where the Bulls plan to pop off just enough to push price back up into the 1W Supply Range. Now let’s put on another pair of glasses.
If price sweeps the high of the range again before touching the demand zones, that would give us a second tap on the high. And at that point a Wyckoff Distribution enters the chat.
From there, it’s a clean 50/50.
Accumulation or Distribution.
Continuation or collapse.
Looks like London might leave the decision up to New York.

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