End of Distribution phase - high probability of trend reversal
We just got out of rising wedge formation ( 4H candle must close below formation support). According to Wyckoffian logic (google: wyckoffian logic distribution accumulation on images) we had a failed rally 30 May and are on the way down. Short term we may test MA200 4H, long test the marked fibonacci level. Please check for additional ideas on the chart.
Do not hesitate to give a like to support my work. Comments are also welcome.
Thank you and godspeed to all.
Do not hesitate to give a like to support my work. Comments are also welcome.
Thank you and godspeed to all.
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