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What I can say

Is that the mkt was fully extended
Because it had used up all it's potential

In going sideways at the top
It was building more potential

Potential in Wyckoff terms is called Cause ( that will lead to an effect )
And is produced by the "work" in a trading range

measured in the swings of the CM ( composite man ) not time..

eg the speed of activity ( the amount of work ) in one bar on a daily bar chart
is significant greater at the present time...

Bar charts are effort Vs result charts ( the work is measured in periods of time. effort = volume , result = price movement )

P&F are cause and effect charts ( price is scaled Vs swings )

They highlight congestion and measure ranges ..

All charts have the same width measured in time
But different width measured in swings

other ways to measure swings but P&F have distinctive scaling and trending properties and highlight particularly areas of congestion...

Where do We measure cause from ?

Here Preliminary supply (~22feb )and ending action (~9may)

Give two downside objectives

5700 (coincides with 50% halfway point retrace from previous stepping stone)

4800 ( absolute objective only comes into the picture if there is no ending action in the vicinity of 5700 or a stepping stone is built at that level )

5700 takes the action back to the main trend line...

Objectives are points of stop look and listen

areas of anticipation only

Those Who have downloaded some of the Wyckoff papers might like to look at the brief allusion to the the "ICE STORY"
and the "nine selling tests"

5700 looks very doable

Watch the following in the waves as they unfold

Following is gauged by stride and volume which together reveal an ease of movement.

Watch for Change of behaviour in those waves esp the down waves..

anticaption is not predicition

motorway

<blockquote data-quote="motorway" data-source="post: 190342" data-attributes="member: 7360">What I can say Is that the mkt was fully extendedBecause it had used up all it&#039;s potentialIn going sideways at the topIt was building more potentialPotential in Wyckoff terms is called Cause ( that will lead to an effect )And is produced by the &quot;work&quot; in a trading rangemeasured in the swings of the CM ( composite man ) not time..eg the speed of activity ( the amount of work ) in one bar on a daily bar chartis significant greater at the present time...Bar charts are effort Vs result charts ( the work is measured in periods of time. effort = volume , result =&nbsp; price movement )P&amp;F are cause and effect charts ( price is scaled Vs swings )They highlight congestion and measure ranges ..All charts have the same width measured in time But different width measured in swingsother ways to measure swings but P&amp;F have distinctive scaling and trending properties and highlight particularly&nbsp; areas of congestion...Where do We measure cause from ?Here Preliminary supply (~22feb )and ending action (~9may)Give two downside objectives5700 (coincides with 50% halfway point retrace from previous stepping stone)4800 ( absolute objective only comes into the picture if there is no ending action in the vicinity of 5700 or a stepping stone is built at that level )5700 takes the action back to the main trend line...Objectives are points of stop look and listenareas of anticipation only <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile&nbsp; &nbsp; :)" loading="lazy" data-shortname=":)" />Those Who have downloaded some of the Wyckoff papers might like to look at the brief allusion to the the &quot;ICE STORY&quot;and the &quot;nine selling tests&quot;5700 looks very doableWatch the following in the waves as they unfoldFollowing is gauged by stride and volume which together reveal an ease of movement.Watch for Change of behaviour in those waves esp the down waves..anticaption is not predicition <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile&nbsp; &nbsp; :)" loading="lazy" data-shortname=":)" />motorway</blockquote>

[QUOTE="motorway, post: 190342, member: 7360"] What I can say Is that the mkt was fully extended Because it had used up all it's potential In going sideways at the top It was building more potential Potential in Wyckoff terms is called Cause ( that will lead to an effect ) And is produced by the "work" in a trading range measured in the swings of the CM ( composite man ) not time.. eg the speed of activity ( the amount of work ) in one bar on a daily bar chart is significant greater at the present time... Bar charts are effort Vs result charts ( the work is measured in periods of time. effort = volume , result = price movement ) P&F are cause and effect charts ( price is scaled Vs swings ) They highlight congestion and measure ranges .. All charts have the same width measured in time But different width measured in swings other ways to measure swings but P&F have distinctive scaling and trending properties and highlight particularly areas of congestion... Where do We measure cause from ? Here Preliminary supply (~22feb )and ending action (~9may) Give two downside objectives 5700 (coincides with 50% halfway point retrace from previous stepping stone) 4800 ( absolute objective only comes into the picture if there is no ending action in the vicinity of 5700 or a stepping stone is built at that level ) 5700 takes the action back to the main trend line... Objectives are points of stop look and listen areas of anticipation only :) Those Who have downloaded some of the Wyckoff papers might like to look at the brief allusion to the the "ICE STORY" and the "nine selling tests" 5700 looks very doable Watch the following in the waves as they unfold Following is gauged by stride and volume which together reveal an ease of movement. Watch for Change of behaviour in those waves esp the down waves.. anticaption is not predicition :) motorway [/QUOTE]

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