Lesson / WY-01-05
Harmony should be compared with a previous similar process. Higher volume and greater net progress in the current upward swing is more meaningful than simply saying “a rally on expanding volume.” If activity increases markedly while incremental distance shrinks, the relationship becomes discordant. Without a comparable process, describe the current behavior and wait for a longer sequence to establish a baseline.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
7 lessons · Chapter contents
01What Effort and Result Measure↗02Measuring the Different Price Results↗03Harmony between Effort and Result↗04Increasing Effort with Diminishing Results↗05Declining Effort while Price Keeps Progressing↗06Single Bars, Sequences, and Swings↗07Why the Same Behavior Can Have Different Explanations↗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
