I decide to write some short not on wyckoff strategy because of what happened in the crypto market recently ,wyckoff indicator give the signal that Bitcoin is in overbought,that institution is about to short the market
This indicator is little simple you just have to understand it , practice it in your demo account and master it
This strategy was introduce by Richard Wyckoff in the early 20th century and this can be use to trade any type of market ,either stock ,forex ,crypto
Is rule tells traders and investors that the market and individual securities never behave in the same way twice but
trends unfold through a broad array of similar price patterns
To confirm wyckoff in the accumulating phase of the market always first thin is to identify selling climax (SC)in the support level ,next thing is the spring and low volume selling fail off
the best time to enter the market is the test level but if I fail to enter from this level I wait for the market to jumb the Greek , different people name this different ways but according to this diagram it will be easy if I explain it this way
This can also be followed when in distribution stage ,as I said earlier practicing make perfect
This is an pics is from of my mentor I follow ,you will see this strategy shows that the market is in distributing phase and the smart trader is about to short the market
Knowledge is priceless when you don't know it ,it is cost , using this with good money management strategy you not blowing account is guarantee
This is all for today ,I will still explain more next time ,if you have any questions you can drop comment of follow my Twitter page @fx_baek ..thanks for leofinance community for this opportunity