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SteynTrade
Jul 30, 2019 7:08 PM

JSE:MTN Markup Continues Long

MTN GROUP LTDJSE

Description

Following this accumulation range since November 2018 and the markup continues to play out with a series of stepping stone reaccumulation ranges.
Comments
Angus_Graham
Many thanks, What do you mean by backup and markdown and markup?
SteynTrade
@Angus_Graham, Hi, I follow a Wyckoff approach to evaluating the market. Wyckoff looked at the trading ranges (TR). These ranges leave clues to what the large operators are busy doing. Once the large operators have accumulated or distributed their stock they will markup or down the price when it breaks out of the TR.
SteynTrade
@Angus_Graham, After breaking the TR there is typically a backup (BU) to the breakout level of the TR. So the labelling is related to standard Wyckoff terminology. Some standard abbreviations used in the labelling are: Selling climax (SC), Buying climax (BC), Automatic rally/reaction (AR), Secondary test (ST), Upthrust (UT), Spring, Last point of support (LPS), Last point of supply (LPSY), Signes of Strength (SOS), Signs of Weakness (SOW) and others.
Angus_Graham
@SteynTrade, Many thanks, much appreciated. I will do some homework.
SteynTrade
@Angus_Graham, If you want to find out more about Wyckoff I would propose you read the bolgs of Bruce Fraser at stockcharts.com (stockcharts.com/articles/wyckoff/ ) and watch the videos at Wyckoff Trading Method (youtube.com/channel/UCzdnvMNNeBSRRh1KWuJ_BUQ )
Angus_Graham
@SteynTrade, very many thanks. Grateful to you for your kind guidance. Thank you so much.
SteynTrade
@Angus_Graham, My pleasure.
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