Good effort Hold Fast, glad you are getting something out of the thread.
I can see what why you have labeled those events as you have, and your labels do make reasonable sense.
However, just to give you some perspective, from my point of view.......
The selling climax would normally depict players exiting for whatever they can get for their stock in a real act of desperation and depression, and usually on really really high volume, relative to the recent average volumes.
On the reversal you have marked as a selling climax, while the volume is high, I wouldn't really consider it climactic and doesn't look like it would have flushed out a majority of vulnerable holders (ones who will sell their stock when the pain of holding a loss becomes too much).
However that said, the reversal you marked is a sign that some buying (or strength) came in at that point, so you identified that correctly, as was the Automatic Reaction in response to it, and then the Secondary Test. And that potential strength was all confirmed with the resulting rise in price.
So you are getting the idea of it for sure, just perhaps the degree of the strength was a little off that's all, particularly on that large weekly time frame (it may even be completely correct on an intraday chart, and a bit closer on a daily chart...although I might just confuse more saying that, while you are still digesting all this info).
Anyway, once you saw that really high volume last week and this week, which dwarfed the previous volumes, it may have offered a hint that the previous volumes were not 'really' high or climactic, after all.
And another couple of ways to get a handle on whether volumes are really high or not, is to convert the volume into actual dollars and see if it really appears to be capitulation or at least Very Very High, instead of just a bit of increased buying.
And also if you are able, have a look at how many shares traded compared to how many are on issue, as that is another way in which you can get some idea of whether volume is climactic or not (this can also be compared to the amount of probable free float, using the TOP 20 shareholders percentage as a guide)
I am not sure how you derived your creek........but I can see what you were getting at.
Often (but not always) the creek is at the high of the AR.
But yes price did trade through a range in that period, although it possibly looked weaker than strong......perhaps more likely to be re-distribution, than re-accumulation.
and finally I don't quite understand the spring you have marked (I pointed out that bar on Friday night, because it it was really narrow when compared to the previous bar which gapped below potential support with a wide spread on almost the same amount of volume, which was about $7.5 million if I remember correctly, which is pretty decent volume....eg- it was buying or support).
I guess if price immediately responded higher and moved back above the 60cps line again it could be claimed to be a spring of the SC you marked.
Just to clarify, a spring is seen when price dips below a previous level of support, but does not actually breakdown, and instead responds positively and regains or recovers the lost ground.
Here is a little chart I drew a while back, which shows a spring, and you should get the idea.
View attachment 222026
PS- Springs usually work best after really strong support has come in, or after a breakout, or in an uptrend, and when they are 'in the right place' on a chart, they can work really well and be a precursor of a sharp and/or sustained rise in price.
Springs work worst, with weakness (selling) in the near background, or after a recent breakdown, or in a downtrend, in these cases, you should discount the value of the spring. Finally, springs do not Always work, they can and do fail (usually when in the wrong place), and a failed spring can be considered a sign of weaknes in itself.
Overall however, you have done pretty well, if that is your first go at posting a Wyckoff style chart.
I can fully understand what you have seen and why you marked it as you did, and it is only a bit of experience that caught you out a little.
Oh and the Preliminary Support (PS) you marked is sort hanging there in space, not really marking anything. I wasn't actually sure what it was marking.
But I expect it was there to mark the reversal across to the left a bit, which would make some sense with the other bars and events you marked.
hope that all helps......keep having a go, and keep asking questions, and you will learn more quickly.
cheers
PPS- don't worry about getting it right yet too much, I made heaps of errors when I first started posting charts (in 2011 /2012), and DG, mitta and Funky would just correct me and I would just have another go......
, like your idea of using comparison to shares on issue or quoting it in dollar value. The creek being related to the top of the AR makes perfect sense as it also acted as support through the trading range as well, I just ran it straight off the top of the TR, unfortunately no curvy lines on Charttrekker
