Wyckoff trading method, page-1412

No worries @Incongruous,

Yep, and just on the generation of demand to sell into, at the same time as the company announcing good news about a project, there is a serious media saturation by the professional sellers going on. The media usually has plenty of free space they need or want filled Every Single Day. So whether it be TV, newspaper, or internet, if they are offered some interesting "potentially Good News" for their viewers or readers like "this stock is going to the moon....". They will usually snap it up and run it, without any serious questions at all (Tom Williams said in the late seventies and eighties, if the syndicate typed up something for the media, most times it would be run 'word for word'......and in his opinion, the media was much more careful back then, as nowadays there are less journalists with less time, so even less detailed checking of the facts).

Yep, if the price action doesn't make sense......put your radar up.....and be suspicious for sure

As soon as I see serious potential weakness like those initial supply bars, I expect the chart to have a "less than positive" influence come over it.
IMO, while the price goes sideways within the range of the supply bar I am just suspicious (as it may consolidate), but the weakness is confirmed (for me) when the low of the supply bar is taken out to the downside. And if price consolidates sideways and then takes out the high of the initial supply bar and continues higher, I am still suspicious but accept that while price remains above the potential weakness, its influence is reduced or removed.

Yeah that last pivot low as a warning line is one that just kept occurring (especially on intraday futures charts), and eventually I couldn't ignore it any longer and payed closer attention, and did some proper testing of it. It appears to work in all markets and all time frames.......so I have adopted it whenever I see a sideways range (just remember to keep adjusting it, as quite often in a sideways range there are repeated little pivots.....and always have the last one marked...along with where you expect the ice to be).

and yes, good quotes, I agree


cheers