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Oil, demark sequentials selloff-signal.

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In the past decade 4 out of 5 times, Tom DeMarks Sequentials has nailed the trend change in time.
Short any long-spike, look for IHS formation at a longer-term.
Good luck everyone!

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Identifying Wyckoff schemes, here we are in a distribution phase, see the patterns?

school.stockcharts.com/lib/exe/f...

PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching.

BC—buying climax, during which there are often marked increases in volume and price spread. The force of buying reaches a climax, with heavy or urgent buying by the public being filled by professional interests at prices near a top. A BC often coincides with a great earnings report or other good news, since the large operators require huge demand from the public to sell their shares without depressing the stock price.

AR—automatic reaction. With intense buying substantially diminished after the BC and heavy supply continuing, an AR takes place. The low of this selloff helps define the lower boundary of the distribution TR.

ST—secondary test, in which price revisits the area of the BC to test the demand/supply balance at these price levels. For a top to be confirmed, supply must outweigh demand; volume and spread should thus decrease as price approaches the resistance area of the BC. An ST may take the form of an upthrust (UT), in which price moves above the resistance represented by the BC and possibly other STs before quickly reversing to close below resistance. After a UT, price often tests the lower boundary of the TR.

SOW—sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume. The AR and the initial SOW(s) indicate a change of character in the price action of the stock: supply is now dominant.

LPSY—last point of supply. After testing support on a SOW, a feeble rally on narrow spread shows that the market is having considerable difficulty advancing. This inability to rally may be due to weak demand, substantial supply or both. LPSYs represent exhaustion of demand and the last waves of large operators’ distribution before markdown begins in earnest.

UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts, a UTAD is not a required structural element: the TR in Distribution Schematic #1 contains a UTAD, while the TR in Distribution Schematic #2 does not.

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Seems like we're revisiting highs, pattern is broken, alternative that we're in UTAD.
I'll still stay cautious with longs, looking for a short entry with the sequential in mind.

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Here's the blowoff from the top (UTAD), we'll see some LPSY moves from here on, expect at least 66-64/bbl.

手動結束交易

Closed Shorts at 66.8, looking for new entry.

交易進行

Opened another short 67.8

手動結束交易

4 trades today, all short, -0.1c. 3 BE 1 overextension.

交易進行

Tooks some scalps from 69.15, very nice day.

交易結束：目標達成

交易進行

評論

Within gannbox

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Yellow line = anchored VWAP, Gannbox is stretching 5 years, I think we're close to find a new sweet spot range, basing on SMA confluences and high volume areas. idk, just a chart that you guys might find interesting...

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