Lesson / WY-02-11
In Wyckoff chart terminology, the demand line of an uptrend connects two important rising reaction lows; the supply line of a downtrend connects two important falling rally highs. Two points establish only a candidate straight line. A subsequent third approach or touch tests its descriptive value. The third point is not a magical confirmation: price may turn early, cross briefly or stop following the original slope as volatility characteristics change.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
7 lessons · Chapter contents
01Highs, Lows and the Rhythm of a Trend↗02Trend Lines and Channels: Uses, Drawing Rules and Limits↗03Support and Resistance: Zones, Boundaries and Tests↗04Initial Trading-Range Boundaries and Later Revisions↗05Breakouts, Breakdowns and Re-entry into the Range↗06Change of Behavior: From One Rhythm to Another↗07A Trend-Line Break, a Trend Stop and a Trend Reversal↗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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