EURCHF update on the monthly lens demand area.
We had a good accumulation at the very depth of the zone, this week we’re having a retracement to the last points of support.
EURCHF DAILY
H4 lps zone
We also have another accumulation taking place on M5, where the spring is yet to form. This should be the trigger into the trade with stops below the potential low of the formed spring.
Just as you’d imagine, I was shaken out of the position yesterday. My entry like I said was based on price springing on the M5 accumulation range, placed a stop below the spring, turns out I was too early.
Entry was at the yellow area
There’s yet another accumulation at current market price and this time this time, the spring is quite convincing, forming a pin bar on H4. I’ll be entering on retracement with a stop right below the swing.
M5 BOS
My entry is literally at current market lriprice as I’m sharing this. My protective stops are below the swing (1.7070)
M5 Accumulation
Seems it needs to touch 1,7 first
Seems like it just did tap 1.7
Personally I was taken out yet again because of my tight stop but I’m in again. This is what I’d call a terminal shakeout.
Entry in; last attempt
Active management pro tip; marking the most recent lower highs with a downtrend line. Once broken, we can start relaxing until we’re out of the woods.
EURCHF downward trendline
Revisiting EURUSD; we had a retracement very similar to that of EURCHF, to the last points of support. Price ranged and failed to close below the demand zone, viz
We’ve had a spring;
at the recent range, which was my entry trigger and a protective stop just as tight.Full position in.
GBPUSD ACTIVE MGMT
Everything we wanted has been achieved in this particular trade. But holding the last ambitious position currently for the possibility of a new trend in its dawning stages.
A new high was established at 1.398000 (BOS), now following to see if there’s a higher low that will be formed. If that holds true, new positions will be added otherwise we can’t ignore the presence of the bears in this market
The first basing action since price dropped, I’ll get in here with a 1% risk since the spring gave a micro break of structure.
GBPUSD M5 Accumulation
Entry
Turned out to be a loser, was fortunate to catch the current bottom.
I must admit however, this week’s losses were quite amateur-ish . I found myself trying to force a trade out of the market as opposed to letting it come to me,
The goal was to achieve 20% EOM. Currently sitting at 12.4%, chasing stats will eventually kill a trader’s plan.
The plan is to; by the end of each day, each month still have your principal and maintain a steady growth over time just as you would with your other investment portfolios
Synthetic Index Spotlight; Crash1000
Exactly 7 days ago,I spotted this accumulation range above showing signs of strength. But I’ve been too distracted to check on it, seems price has tested the last point of support (LPS)
Entry & SL
Typically, I’d have had my limit order where I’ve placed my protective stop loss but I was late to the opportunity so I just went in over ten minutes ago.
Revisiting EURUSD. I noticed how my thrill for simplicity can lead to being complacent. For a change in the current trend, at least a break of structure has to take place on slightly high time periods, similar to the one on the hourly chart
EURUSD H1, BOS
This is after price accumulated and formed a spring
M30 Accumulation
We’ve had David Weis’ “jumping the creek” past the momentum line below
Entries will be established on retest of the 1.16800 area with protective stops kept below the spring.
Went in on ETH, kept a tight stop at 3344, will share after development
EURUSD as mentioned, was a missed opportunity
EU miss
Well, I made sure to catch some GBPUSD right after the breakout
GBPUSD Breakout
Time to close some profits and let the rest run. This is based on a monthly>weekly>daily zone shared a few posts ago
ETHUSD Entry & SL yesterday
The entry was based on the test of the last point of supply but at the time the image was taken, price was creeping up so my stop placement had to be revisited. It ended up having to be shifted to a above the distribution structure, see below
ETH USD updated
With where it is now, I decided to close 80% of the position given the potential of a bullish takeover as the greater structure looks like an absorption
Time to analyse! Oil - the world’s most important commodity, at least for now is looking like a good stalking potential
See OIL chart
Price is seeing some demand coming in at the current zone marked out. If this holds true, we may see a resumption of the dominant uptrend on the macro lens.
The DBD area price is currently in could be an issue for continued upside but should we have a violation of the zone, the trend could really be setting up for a re-run.
In the more detailed image below, assuming price is pushing for bulls and the DBD area isn’t an issue, the supply area at $74.000 could be the one to bring price for a retest.
Weekly Detailed Chart
The horizontal line at $54.300 is to show the nearest HL in the bigger picture. For price to confirm a crashing oil market (or a less dramatized term - bear market), it would need to clear that HL to form a new low (LL), then we can talk. For now, we are still in an uptrend, aided by the fed reconstruction bills, the world opening up slowly, flights increasingly taking off … the petroleum market seems pretty good to regain ground fundamentally.
Looking into Daily
…we see the strongest 2 day recovery since the sell off began in June/July. Giving buyers hope that, the sellers may be losing ground.If you also zoomed out your daily charts, you’ll notice how the distribution-like structure starting Q1, rising lows give the structure a reaccumulation description than a distribution. Price broke an uptrend dynamic support level to shake off some weak hands, but this looks very close to a reestablishment of a bullish trend.
Looking for entries would seem very possible around where the first LH was broken as seen below
H4 BoS
$62.700 or lower look like good places to start. So it’ll be interesting to see how this one develops.
Had a little busy week, training two gentlemen on equity swing trading. I managed to get in on $BB - Blackberry right at the spring
Chart
Chart - after the spring
I enjoy the Wyckoff entry on stocks much more but my heart still is on forex markets and sometimes futures
I also managed some really good entries into my watchlist which I’ll share below
GBPJPY
GBPUSD – running diary
GBPCHF
GBPJPY update,
With GBPCHF, firstly is EURCHF — Monthly Demand
Weekly
Daily
H4 — Accumulation Entry
AUDCHF was also taken with CHF pairs.
Daily
Should price close above the horizontal lines on CHF pairs — which is a major LH(lower high), buyers are out of the woods and will switch from active to overview monitoring
The link above is on a thread I just opened a few hours ago for the guys who’ve been following with interest.
Just in case you have been following the thread and are interested to continue doing so… I may be unable to sustain both threads simultaneously so please pop by and we can continue with trading Wyckoff with supply/demand
