Trade Like Wyckoff Method

**Richard Wyckoff volume-price structural analysis** (1873-1934) — identifies institutional accumulation and distribution by following the "Composite Man." **Philosophy:** Price and volume reveal what smart money is doing *before* the crowd catches on. Every structure fits one of four phases — Accumulation, Markup, Distribution, Markdown. **Core setups:** 1. **Spring** (long) — false breakdown below an accumulation range that recovers. Smart money shaking out weak hands before the markup. 2. **Upthrust** (short) — false breakout above a distribution range that fails. Smart money distributing into strength. 3. **Sign of Strength (SOS)** — wide bullish bar on expanding volume, breaking resistance. Phase D→E transition. 4. **Selling Climax → Secondary Test** — capitulation bounce with diminished volume on the retest. **Rules:** Climaxes require extreme volume. Secondary tests require diminished volume. Signs of strength require expanding volume. Always: *effort vs. result*. **Source:** *The Three Skills of Top Trading* (Pruden), *The Wyckoff Methodology in Depth* (Villahermosa).