> Price just swept the recent highs near 1.9145 with an upthrust pattern and is showing rejection.
This looks like a classic liquidity trap, where breakout buyers may be caught.
I'm preparing for a short entry based on Wyckoff principles, focusing on two key options:
1. Aggressive Entry (Candle Close Confirmation):
> If the current 4H candle closes with strong rejection (upper wick / bearish engulfing), I’ll enter short immediately.
Stop: Above 1.9145 (upthrust high)
Target: 1.8940 (prior demand / mid-range)
This entry captures the reversal early with great RR.
2. Retest Entry (Confirmation on Pullback):
> If price breaks down and then pulls back to the 1.9100–1.9115 area, I’ll look for signs of bearish intent (lower highs, rejection) on 1H or 15M.
This reduces risk of fakeout but may miss the move 60% of the time.
Why this matters:
> Wyckoff distribution often ends with an Upthrust, designed to trap late buyers and smartly shift supply.
I’m trading the reaction, not the breakout.
Confirmation will come either on this candle close or on the next pullback.
Let me know if you’re seeing the same idea — or if you think bulls will push this breakout for real. I’m open to challenge.
This looks like a classic liquidity trap, where breakout buyers may be caught.
I'm preparing for a short entry based on Wyckoff principles, focusing on two key options:
1. Aggressive Entry (Candle Close Confirmation):
> If the current 4H candle closes with strong rejection (upper wick / bearish engulfing), I’ll enter short immediately.
Stop: Above 1.9145 (upthrust high)
Target: 1.8940 (prior demand / mid-range)
This entry captures the reversal early with great RR.
2. Retest Entry (Confirmation on Pullback):
> If price breaks down and then pulls back to the 1.9100–1.9115 area, I’ll look for signs of bearish intent (lower highs, rejection) on 1H or 15M.
This reduces risk of fakeout but may miss the move 60% of the time.
Why this matters:
> Wyckoff distribution often ends with an Upthrust, designed to trap late buyers and smartly shift supply.
I’m trading the reaction, not the breakout.
Confirmation will come either on this candle close or on the next pullback.
Let me know if you’re seeing the same idea — or if you think bulls will push this breakout for real. I’m open to challenge.
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.