Wyckoff strategy on usdjpy
High Volume on Markup: During the initial rise between September 23rd and 27th, the volume is moderate and steady, confirming participation in the upward trend. No massive volume spikes are seen during the markup, suggesting that institutional players were gradually adding positions.
Sharp Volume Spike on Decline (Markdown): Around September 27th, as the price reaches its peak and begins to drop, there is a significant increase in volume, suggesting institutional selling. The large red candles with high volume indicate that the smart money is exiting long positions, signaling the end of the distribution phase.
Optimal Trade Entry (OTE): The price has now dropped significantly and is retracing back upwards. According to ICT’s OTE method, you could look for a shorting opportunity if the price retraces to the 61.8% - 79% Fibonacci retracement level, which aligns with the 144.000 - 145.000 range.
Entry (Sell): Look for a retracement back to the 144.000 - 145.000 area, which coincides with the previous order block and the OTE zone.
Stop Loss (SL): Place the stop above the previous highs at 145.500. This gives room for price to test the liquidity above the highs without triggering your stop.
Take Profit (TP): A reasonable target would be the previous support zone around 142.000, where liquidity might reside based on previous price action.
Markup Phase: From September 23rd to 27th, as price trends upward from 143.00 to 145.500.
Distribution Phase: Around September 27th, where price consolidates near the highs before dropping.
Sell Setup: Ideal short entry around 144.000 - 145.000, with SL above 145.500 and TP around 142.000.
Buy Setup: If price holds support around 142.000, look for a buy setup with TP around 144.000.
Sharp Volume Spike on Decline (Markdown): Around September 27th, as the price reaches its peak and begins to drop, there is a significant increase in volume, suggesting institutional selling. The large red candles with high volume indicate that the smart money is exiting long positions, signaling the end of the distribution phase.
Optimal Trade Entry (OTE): The price has now dropped significantly and is retracing back upwards. According to ICT’s OTE method, you could look for a shorting opportunity if the price retraces to the 61.8% - 79% Fibonacci retracement level, which aligns with the 144.000 - 145.000 range.
Entry (Sell): Look for a retracement back to the 144.000 - 145.000 area, which coincides with the previous order block and the OTE zone.
Stop Loss (SL): Place the stop above the previous highs at 145.500. This gives room for price to test the liquidity above the highs without triggering your stop.
Take Profit (TP): A reasonable target would be the previous support zone around 142.000, where liquidity might reside based on previous price action.
Markup Phase: From September 23rd to 27th, as price trends upward from 143.00 to 145.500.
Distribution Phase: Around September 27th, where price consolidates near the highs before dropping.
Sell Setup: Ideal short entry around 144.000 - 145.000, with SL above 145.500 and TP around 142.000.
Buy Setup: If price holds support around 142.000, look for a buy setup with TP around 144.000.
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