Lesson / WY-03-16
A Last Point of Support (LPS) follows strength. The pullback fails to recover the market's former downward ability, and price then strengthens from a higher low or support zone. An arbitrary higher low is not automatically LPS, and low volume alone does not justify preselecting its low. 'Last Point of Support' is simply the name of support formed by a supply test after strength. It guarantees neither no further tests nor permanent absence of renewed supply. In real time, call it a candidate LPS until rising resumes. Several LPSs may occur successively as a trend develops, each representing a fresh supply test.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
7 lessons · Chapter contents
01How Phase D Builds on the Earlier Structure↗02Sign of Strength: SOS↗03Last Point of Support: LPS↗04Comparing the Strong Advance and Pullback↗05Jump Across the Creek and the Breakout Retest↗06Internal Strength Versus Actual Departure↗07Multiple LPSs, Deep Retests, and No Follow-Through↗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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The Accumulation Structure and Phase A
Phase B: Tracking Supply and Demand Within the Range
