Wyckoff trading method, page-808

  1. 16,642 Posts.
    lightbulb Created with Sketch. 1291
    Thanks for that @melenova , I think that those 'reverse upthrust' type bars may be a relatively new phenomena (although I don't know that for sure).
    Wyckoff analysis is steeped in the traditions of the early to mid 1900's, and has been modernised somewhat along the way, but most particularly by David Weis in recent times.
    And VSA (which is derived from Wyckoff analysis), was largely put together in the late 70's and early 80's, and was developed further throughout the eighties, but I am not aware of many changes or updates since then.
    I see those reverse upthrust bars as a form of absorption, which also have the dual purpose of flipping out some short term & momentum traders at the same time.

    Is that chart in a trading range or accumulation zone ??
    I think I need to see the wider view (more bars or larger timeframe), so as to get a better picture of where price actually is, which may then give a better understanding of why things are going on, and how serious they are.
    I've been out for a bit and just got home, so I will have a look a bit later....

    cheers
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.