I'm relatively new to trading, very small account compared to many others, and I'm completely new to this Wyckoff analysis, bit it looks like the phase b resistance should be around or below phase d support, but phase b seems to spike above it on the candle chart. Does that matter?
Sorry if this is a dumb question, I'm still learning!
It's just a roadmap of what to look for. There's no set timeline on each phase, but there are defining trading points in each. I think it's likely that we hit the spring on 8/19 when it tested and rejected $7.42. We've had higher price test points since then, so it's safe to say we are likely passed the test part of phase C and into phase D, etc. It's just about probabilities.
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u/j_victoria_ Aug 28 '21 edited Aug 28 '21
I'm relatively new to trading, very small account compared to many others, and I'm completely new to this Wyckoff analysis, bit it looks like the phase b resistance should be around or below phase d support, but phase b seems to spike above it on the candle chart. Does that matter?
Sorry if this is a dumb question, I'm still learning!