I made a previous Wyckoff chart too early on and I imagine lots of Bears were expecting a dump a lot earlier than how it actually happened.
Now we are at this point, the situation is very clear.
I can see this whole dump has been circled around the Monthly close.
Now sometimes, there will be an initial Bull trap pump on the Monthly close, so I won't be setting Limit orders at 21.4k because I could wake up rekt. I am aware this could take us to 22.3k. (Apologies, my 2nd red squiggy line should have drawn it to 22.3k)
However a max of 21.4k here is also a possibility, before we finally dump. I will be Market ordering based on what I see on the 1 minute charts during these levels.
I am currently LONG 20,680 with a TP of 21,390.
Something tells me I won't be getting much sleep 1st-2nd July!
Now we are at this point, the situation is very clear.
I can see this whole dump has been circled around the Monthly close.
Now sometimes, there will be an initial Bull trap pump on the Monthly close, so I won't be setting Limit orders at 21.4k because I could wake up rekt. I am aware this could take us to 22.3k. (Apologies, my 2nd red squiggy line should have drawn it to 22.3k)
However a max of 21.4k here is also a possibility, before we finally dump. I will be Market ordering based on what I see on the 1 minute charts during these levels.
I am currently LONG 20,680 with a TP of 21,390.
Something tells me I won't be getting much sleep 1st-2nd July!
Note
Managed to ride down 21.2k to 20.,680 today and took took profit too early. Switched to long and hit stop.Apparently there was some news about Sweden and Finland joining NATO, which was likely the cause of this sell-off.
Or maybe we are dropping ahead of schedule? Interested to see what happens from now 'til Monthly close!
Note
Here are retracement targets for possible dump, labelled from 0.236 - 1
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.
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.