Lesson / WY-04-19
Phase C primarily tests buyers' ability to keep lifting price and maintain higher levels, although it cannot be clearly identified on every chart. When price enters an area where buying may previously have concentrated, observe whether buyers still accept supply and raise price further. UTAD is one form of testing beyond the upper boundary. The market may instead fail to rally from the upper part or a lower internal area without making a new high. Whatever the pattern, assess trading activity, actual upward distance, and time spent high.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
8 lessons · Chapter contents
01The Task of Phase B: Comparing Rallies, Declines, and Internal Range Behavior↗02Increasing Supply, Weakening Demand, and Their Combination↗03Upthrust: UT↗04Upthrust After Distribution: UTAD↗05UT, UTAD, Ordinary Breakouts, and Breakout Failure↗06Demand Testing in Phase C↗07No UTAD and Tests at Lower Levels↗08Repeated Upthrusts and Returns to the Range↗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 Distribution Structure and Phase A
Phases D and E: SOW, LPSY, and the Developing Decline
