Wyckoff trading method, page-1076

Yep, that chart is correct (close to close), but yes it does look a bit weird I agree.

Hang on a tick (or check back tomorrow) and I'll try to find a classic shakeout (textbook style), those ones you mentioned were in downtrends and have most likely failed, the classic ones are in sideways ranges or uptrends.

My old online mentor Steve Phillips had a saying "a test and shakeout equals a breakout" (referring to a breakout from a sideways trading range).
It actually means, a shakeout and then a test, or a test and then a shakeout, soon after one another (not necessarily immediately following each other), equals a breakout. He kept records on this for a good long while and got very high results (mostly on futures markets), something like 70-80% success rate off the top of my head I think.

cheers