Yep, yep and yep.
Yep, yep, yep yep & yep.
------------------------------------------------------------------------------------------------
Good job, maybe that was too easy ??
And good to see you both saw the spring trade (whether it was used as an accumulation point, or just for the spring trade to the trading range highs)
Here are some thought from me.
And I should point out (again) that this is pretty much a test book perfect accumulation.
It begins with climactic action of some sort, then the process of mopping up any further supply takes place, then it breaks out and is on its way.
Note- this accumulation was pretty quick, and sometimes it can take much longer to mop up all the supply that hasn't sold out yet (but wants to), although some measure of the length of time taken to mop up, relates to how strong the initial climactic action is (if almost all, or most, of the sellers 'get out' on the climactic bar, then there is less to have to tidy up later, and the accumulation will be quicker).
(and also while I think about it - when a 'V' shaped recovery occurs on massive volume, what has generally happened is that "everyone" sold out on the bad news that caused the climactic action. And with everyone who wanted to sell already out, price can quickly recover and stage what appears to be a remarkable recovery - the BP chart from the gulf of Mexico oil spill comes to mind here - i'll see if I can find it.....)
- Forums
- General
- Wyckoff trading method
Wyckoff trading method, page-781
-
- There are more pages in this discussion • 1,678 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)