Wyckoffian Patterns that occurs in Accumulation Phase
Wyckoffian Patterns that occurs in Accumulation Phase
1. Initial Sell off in panic mode
2. Preliminary support has been identified, where the big institutions and smart money players try and take bullish positions after a strong sell off
3.Automatic rally from the preliminary support has occurred
4. Secondary test of support has occurred more than twice (although not at same price point around the preliminary support)
5. There was a show of strength with increase in price and volume on the same day
Note:- No false break out has occurred at lower levels in this particular period. Whereas in some other cases it might occur and one can see spring action at the support level.
One can take long positions based on their RRR.
Any suggestions / corrections are welcome.
1. Initial Sell off in panic mode
2. Preliminary support has been identified, where the big institutions and smart money players try and take bullish positions after a strong sell off
3.Automatic rally from the preliminary support has occurred
4. Secondary test of support has occurred more than twice (although not at same price point around the preliminary support)
5. There was a show of strength with increase in price and volume on the same day
Note:- No false break out has occurred at lower levels in this particular period. Whereas in some other cases it might occur and one can see spring action at the support level.
One can take long positions based on their RRR.
Any suggestions / corrections are welcome.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.