Lesson / WY-03-13
Phase A means only that the preceding decline has, for the first time, failed to continue smoothly; it does not establish that a bottom has formed. In a mature decline, supply repeatedly pushes price lower. A stopping possibility arises only when trading increases substantially but price no longer moves far downward, or the subsequent rally is stronger than previous ones. The old rhythm of decline has changed, but demand may still be insufficient to launch an advance.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
8 lessons · Chapter contents
01Phases and Events in the Accumulation Schematic↗02The Task of Phase A: Has the Decline Stopped?↗03Preliminary Support: PS↗04Selling Climax: SC↗05Automatic Rally: AR↗06Secondary Test: ST↗07Establishing and Revising Preliminary Range Boundaries↗08Nonstandard Phase A Structures↗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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Phase B: Tracking Supply and Demand Within the Range
Phase C: Springs and Supply Tests
