1. Price is in down trend forming LH-LL from Aug 2017 to Sep 2020.
2. From there, a reversal in trend can be seen forming HH-HL.
3. Good swing trade opportunity.
Entry : 125
SL:115 (WCB)
Target: 140
Wyckoff developed a price action market theory which is still a leading principle in today's trading practice.
The Wyckoff method states that the price cycle of a traded instrument consists of 4 stages – Accumulation, Markup, Distribution, and MarkDown.
👉TEXTBOOK EXAMPLE Accumulation Schematic: Wyckoff Events and Phases 👈
And this is the accumulation...
crude oil prices are heavily falling in past 3 - 4 weeks.
we can see good quarterly results in oil-based industries.
it will also affect petrochemicals prices.
so take a watch on companies which are in this sector, or having petrochemicals as a raw material.
