WY-01-03 / 04
Judging Relative Strength through Progress and Obstruction
First Principles
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Lesson / WY-01-03
When buyers dominate, upward swings usually travel farther, cross previous highs, and close high; subsequent reactions struggle to return to the original breakout area. When sellers dominate, downward swings extend more easily, rallies end lower, and price can remain beneath former support.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
9 lessons · Chapter contents
01Supply and Demand↗02Matched Trades and Relative Supply-and-Demand Strength↗03The Continuous Double Auction: How Orders Form Prices↗04Judging Relative Strength through Progress and Obstruction↗05Location and Comparisons over Time↗06A Single Bar and a Single Breakout↗07Testing Supply-and-Demand Judgments with Subsequent Price Action↗08Stronger Demand and Reduced Supply Are Different Processes↗09Balance Is Not Stillness↗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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What the Wyckoff Method Studies
The Composite Operator Model and Strategic Interaction in Trading
