Lesson / WY-04-19
Repeated upward probes show an ongoing contest near the upper boundary, not automatically greater distribution confidence. Compare each with the previous one: breach distance, time above, trading activity, speed of return, subsequent decline depth, and recovery by the next rally. Shorter probes, quicker returns, and deeper following declines show weakening buyers at high prices and sellers able to press lower. Longer residence above, shallower pullbacks, and successive higher lows may instead mean overhead selling is being absorbed.
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
