Trade 3: EUR/NZD short

Now this is one trade I took thinking of Wyckoff. EUR/NZD looks like it's in final, distribution phase.

However this is not a standard DT set-up, although I marked a DT area on the chart

A highlight of the Wickoff Accumulation-distribution analysis below. If price doesn't get out of the distribution area dotted in red then we're just in another accumulation phase. Getting out of that area would have been the confirmation of a distribution area.

Set-up 2, AUD/NZD short

I managed to get into this one, as it looks ok. Narrow initiating candle 30, 13 candles long formation, vigorous exit candle from the DT area. Also confirmation of 3 Stoch.

Forgot  to mention the most important aspect: I started the trading with a 36,500 euro account (demo).

April 23 - a new attempt

After reading much about Wyckoff method I decided I should include this type of analysis in trading as well. Along with the usual triple stochastic, price action and
double tops formation on 30 min TF.

The first possible trade appeared while I was fiddling with the new blog set-up, namely a GBP/JPY short.

The DT (double top) was nicely formed with a narrow initiating 30 min candle. Length of formation was 25 candles. Also the formation was in line with the 3Stoch indicating an oversold area.

A nice 40 pips run after getting out of the DT area. Unfortunately I haven't entered this trade.