Lesson / WY-A-2
Reliable exchange direction flags can be used directly. Otherwise a common method matches each trade price with contemporaneous best quotes. Trades at or above the ask are usually classified as aggressive buys; trades at or below the bid as aggressive sells. Midspread trades or inaccurate alignment of quote and execution times may leave direction uncertain. Vendors may complete classification using prior direction, quote distance, or proprietary rules.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
6 lessons · Chapter contents
01I. Distinguish Orders, Quotes, and Trades↗02II. How Aggressor Classification Is Produced↗03III. Bid×Ask in Footprint Charts↗04IV. The Precise Meaning of Delta and Cumulative Delta↗05V. Two Main Explanations of Price–Delta Divergence↗06VI. Using Local Trading Responses in Wyckoff Events↗Observe the market: start with context and place price within its structure.
Understand structure: compare supply and demand, and let evidence support or revise your hypothesis.
Form a view: define risk limits and know when to reassess.
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