We think that it is likely that institutional limit orders are being filled by retail stop losses right now to form a spring.
We are kind of new to Wyckoff Theory so this idea is more of a test and probably not best to use for trading. That said if one were looking for an entry, either a higher low or when price breaks back inside the trading range would be good.
We are kind of new to Wyckoff Theory so this idea is more of a test and probably not best to use for trading. That said if one were looking for an entry, either a higher low or when price breaks back inside the trading range would be good.
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If we are correct, and we still think that we are, this may be one of the final chances to buy before AXS massively takes off. Great time to place a lot of bids at lower and lower prices to get an nice average entry.
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Possible bottom.
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We will go lower before we go higher. Limit orders at crazy prices like 5.25 just MIGHT fill. Stop losses should be well below because we found out that the spring is forming NOW rather than that it had already formed. Don't panic, buy more if you aren't already overexposed.
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It is important that 5 dollars holds.
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here it comes :)
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We are buying here to hold until at least 18 dollars. Entry levels: buy #1 @ 8.02 buy #2 @ 7.62.