Wyckoff Gold Setup - PHASE C - 27/10/23
Any plans for November?
'Just chilling and waiting to fill up bags with this setup!'
NOTE: Please note that the SPRING is not confirmed yet! suport can be found at this level or below at 1859 or even lower, realistically everything is possible until 1805. But probabilities say it shouldn't go so low.
So what is Wyckoff, and why I use it before everything else.
Wycoff setup in Phase C looking for Test after Spring. Looking very nice... almost textbook setup.
Wyckoff Accumulation is a chart formation that suggests the gradual accumulation of an asset by smart money (large institutional investors) before a potential price breakout. It typically appears as a trading range or sideways movement on a price chart.
Traders use Wyckoff Accumulation to spot potential bullish trends and entry points for buying assets. It helps identify when large investors are building positions, which can precede significant price advances.
Wyckoff Accumulation consists of several phases, including the preliminary support, buying climax, automatic reaction, secondary test, and spring. These phases help traders understand the dynamics of accumulation.
Like any trading strategy, risk management is crucial when using Wyckoff Accumulation. Setting stop-loss orders and managing position sizes are important aspects of this strategy.
'Just chilling and waiting to fill up bags with this setup!'
NOTE: Please note that the SPRING is not confirmed yet! suport can be found at this level or below at 1859 or even lower, realistically everything is possible until 1805. But probabilities say it shouldn't go so low.
So what is Wyckoff, and why I use it before everything else.
Wycoff setup in Phase C looking for Test after Spring. Looking very nice... almost textbook setup.
Wyckoff Accumulation is a chart formation that suggests the gradual accumulation of an asset by smart money (large institutional investors) before a potential price breakout. It typically appears as a trading range or sideways movement on a price chart.
Traders use Wyckoff Accumulation to spot potential bullish trends and entry points for buying assets. It helps identify when large investors are building positions, which can precede significant price advances.
Wyckoff Accumulation consists of several phases, including the preliminary support, buying climax, automatic reaction, secondary test, and spring. These phases help traders understand the dynamics of accumulation.
Like any trading strategy, risk management is crucial when using Wyckoff Accumulation. Setting stop-loss orders and managing position sizes are important aspects of this strategy.