Start of Accumulation .From LH and LL we suddenly see Stopping Volume and we enter into a Side Ways Trading Zone . We see Huge Spread and Volume -- thats Institutional Buying ( Prelim Support - PS ) . We see the Selling Climax . SC . We see the easy Auto Rally . AR . The AR as expected cannot take us to a new High however it takes us to high of the PS Bar. THAT is a critical Bar . After AR as expected Volatility ( Volumes ) are lower BUT we see atleast a HL . A HL is a definite 100% evidence of CHANGE of Character . Instead of LL we hav seen a HL , WOW ! . The Demand Bar has now appeared .. Supply has tired a bit. DEMAND m has not yet overwhelmed Supply but atleast it is seeking parity... WE DONT enter the trade yet . We are waiting for several Secondary Tests down almost to SC levels . IF Lows are higher than SC then we will know Demand is winning out . IF upon approaching the Current RESISTANCE of new TR Down Bars are large with Volumes ---- Weakness resumes . We need to see STs and also Springs . We Can even trade Springs.. SO Time has not yet arrived to trade this.
Wyckoffaccumulation
KARNATAKA BANK - BULLISHNSE:KTKBANK
(For Learning Purpose)
Currently trading in Wyckoff's Phase 1 (Accumulation)
Test of supply happened and price started to move up with expanding volume
We can clearly see volume expansion when price moves up and volume contraction when price moves down or trading in range
Price might move down to ₹40 - ₹42 range before starting to move up but bullish trend is confirmed only when price crosses ₹55 mark
RBLBANK - INTRADAY - LONG (17 jULY 2020)NSE:RBLBANK
(For Learning Purpose Only)
TIME FRAME - DAY
Price in Phase 1 ( Accumulation)
Test of supply completed
Price above DC
TIME FRAME - 15 MIN
In correction phase
Volume supporting price action
Price either open gap down @ 161 or price go down till 161 before moving up to 171
Balkrishna Industries: A Potential Wyckoff Accumulation & SpringThis stock is an interesting case study for those interested in Wyckoff analysis. The price has been stuck in a range for a long while now. The recent sell off on high volume comes across as a potential Wyckoff Spring. The quick snapback into the trading range with higher volume today is a positive sign.
Am watching this stock with interest and looking to take long trades if I see further strength going forward. What I want to see is ease of movement to the upside or sign of strength in Wyckoff parlance. Strong green candles with above average volume is what I am looking for. Let's see how this one shapes up.
Canara Bank: Wonderful Wyckoff AccumulationThis stock comes across as a wonderful accumulation candidate from a Wyckoff perspective. The volume signature is very accomodative and the PSU Banking sector looks good as a whole. I am holding long positions and will abandon the bullish view if the price falls below 230. Expect more updates with Point & Figure targets soon !!