1. Selling Climax ( SC ) on significant (-22.9M)
2. Automatic Reversal (AR) on increased (+14.4M)
3. Secondary Test ( ST ) finding support at ICE, a small up move, followed by a lower low (Spring - SP ) on decreased (+12.9M), which is a divergence between price and .
4. Following the Spring ( SP ) there is a low Test of Supply (TOS) followed by a Sign of Strength (SOS) to Jump the Creek (JTC) on increased (+3.2M)
5. Now seeing a low Back Up to the Creek (BUC) coinciding with the 50% fib retracement level.
6. This is also a test of a prior major level of support (see the "forest" view chart)
Very similar to the AGCO Long chart I published about 1 month ago. Wyckoff traded these BUC's (first pullback in a new MU phase) because he knew this is the best R:R