Many thanks, What do you mean by backup and markdown and markup?
SteynTrade
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@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
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@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
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@SteynTrade, Many thanks, much appreciated. I will do some homework.