ADAUSD: We Must Assume We Are Still in Distribution Explained
Hi Everyone! Based on what we are seeing still in higher time frames (explained in the video) we must conclude we are still in distribution. The highs and lows we have seen over the past several weeks do not necessarily look like accumulation to me. It looks more like distribution events to me (explained in the video). If we are in fact still in Distribution, our next Sign of Weakness would be expected to be around the $0.30 to $0.33 cent area. Yes, it's possible to "wick" down to $0.25 to $0.24 cent area.
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2021/2022 Distribution Scheamtic:
LOCAL Distribution or Accumulation (We don't know 100% for sure if we are in accumulation or Distribution.):
SUPER MACRO (2-Week, 3-Week, 4-Week, 5-Week, 6-Week, 8-Week, 10-Week & 12-Week):
Long Term Group (8-Day, 15-Day, 16-Day, 17-Day, 18-Day, 19-Day, 20-Day & 3-Week):
Mid Term Group (4-Day, 8-Day, 9-Day, 10-Day, 11-Day, 12-Day, 13-Day and 2-Week):
Near Term Group (12-Hour, 24-Hour, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and Weekly):
Short Term Group (30-min. 60-min. 90-min. 2-hr. 3-hr. 4-hr. 6-hr. & 8-hr.):
The entire Short Term and Near Term Group of time frames look bearish at present.