Wycoff Accumulation: This Time, Bears Be Warned
After studying how this absolutely wrecked the bulls on the downside in May, we are starting to see it take form as it pushes through this last accumulation phase.
Now obviously this wont play out exact, and may not confirm on the test at all... However, one can be optimistic if you feel that this bull market isn't quite over like we do.
We seem to be in the last depths of this sell off here after experiencing the "spring" during this morning's trading session. After recovering nicely, it is my opinion that if this does in fact come to test the $32,500 level again we could see this really start to play out.
After taking a few stabs at a long and failing in the last few weeks, we will definitely be letting this play out for confirmation before finding a great entry (that we will post later if that does in fact occur).
Until then, something to keep an eye out for!
Now obviously this wont play out exact, and may not confirm on the test at all... However, one can be optimistic if you feel that this bull market isn't quite over like we do.
We seem to be in the last depths of this sell off here after experiencing the "spring" during this morning's trading session. After recovering nicely, it is my opinion that if this does in fact come to test the $32,500 level again we could see this really start to play out.
After taking a few stabs at a long and failing in the last few weeks, we will definitely be letting this play out for confirmation before finding a great entry (that we will post later if that does in fact occur).
Until then, something to keep an eye out for!
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Confirmed, we will be looking for entries for the swing higher. Stay tuned!
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Playing out even quicker than we marked up. You should start seeing the narrative begin to change back to a bullish sediment. Congrats Longs!