Hello traders!
In my last post as I told you I am expecting Wyckoff's distribution pattern so when the market reached BC(buying Climax) it was a clear sell because the market dropped after making M reversal pattern, according to Wyckoff's theory that was the Automatic Reaction AR after that market formed bullish engulfing at 16500 and the engulfing pattern is best for this type of scenarios. Buy target is hit now and now expect a drop that will break the previous low.
Hit the like button if you successfully traded both waves.
In my last post as I told you I am expecting Wyckoff's distribution pattern so when the market reached BC(buying Climax) it was a clear sell because the market dropped after making M reversal pattern, according to Wyckoff's theory that was the Automatic Reaction AR after that market formed bullish engulfing at 16500 and the engulfing pattern is best for this type of scenarios. Buy target is hit now and now expect a drop that will break the previous low.
Hit the like button if you successfully traded both waves.
Note
Previous analysis 
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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.