Lesson / WY-01-03
The same bar means different things in different locations. A high-volume narrow-spread bar in the middle of a range may simply show active two-way trading. At support after a prolonged decline, it merits testing for supply absorption. Near the end of an advance and higher-timeframe resistance, test whether demand is meeting supply.
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
