Lesson / WY-01-03
Temporary balance between supply and demand does not mean equal order quantities at every price or motionless prices. In a continuous double auction, new orders, cancellations, and trades constantly change the book. Executed buying and selling quantities are equal trade by trade, yet transaction prices can move back and forth across levels. A trading range describes an outcome visible in retrospect: neither side has persistently moved trading beyond the shared area. It proves neither agreement on valuation nor static equality of orders.
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
