DYM - A Whole Different Dimension...

anteontem

Dear TradingView community and fellow traders,
I am Richard, also known as theSignalyst.

I find the DYM daily chart to be intriguing as it appears to be following the famous Wyckoff Cycle.

I would like to apply Richard Wyckoff's four market stages/phases to this chart for analysis as a practical example.

1️⃣ MarkDown
After being listed, DYM was bearish making lower highs and lower lows.

2️⃣ Accumulation
DYM is currently trading within a big range between $1 and $2.4 in the shape of symmetrical triangle.

3️⃣ MarkUp
For the MarkUp phase to start, a break above the upper bound of the range at $2.4 is needed.

I hope you find this post useful, and I would appreciate your likes and support.

Which scenario do you think is more likely to happen first? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard