Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
I found EURUSD Weekly chart a great practical example of Wyckoff's Theory.
As per Wyckoff Price Cycle, we are most probably entering in an accumulation phase.
and yes, it is still too early to judge, as for the accumulation phase to start, we will need a consolidation as highlighted in purple.
If we get our consolidation, for the markup to start, we will need a momentum candle close above the gray zone.
Meanwhile, until the bulls take over, we are still bearish and EURUSD can still trade lower to form a new lower low, then an accumulation phase.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
I found EURUSD Weekly chart a great practical example of Wyckoff's Theory.
As per Wyckoff Price Cycle, we are most probably entering in an accumulation phase.
and yes, it is still too early to judge, as for the accumulation phase to start, we will need a consolidation as highlighted in purple.
If we get our consolidation, for the markup to start, we will need a momentum candle close above the gray zone.
Meanwhile, until the bulls take over, we are still bearish and EURUSD can still trade lower to form a new lower low, then an accumulation phase.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.