This chart is big and took a bit of time.
If you click on "full width view" and scroll across, it should fit nicely onto your page.
It is based on the market theory of Richard Wyckoff, a forerunner for VSA.
The explaination could be a chapter of a book in length.
I have tried to abbreviate and keep it as brief as possible!
I didn't scale it down because it loses too much detail.
It is a daily chart over a couple of phases.
Wyckoff professed that the market was either being:
MARKED UP, MARKED DOWN, or GOING SIDEWAYS.
The MARK UP and MARK DOWN phases were interspersed with TESTS.
When the market went sideways it was either for the purpose of ACCUMULATION or DISTRIBUTION.
When there are tests there can be periods of REACCUMULATION and REDISTRIBUTION.
In this chart the RED ARROWS are the longer term phases.
The black arrows show how the longer term MARK UP is broken into shorter phases of mark up and tests.
Wyckoff would have used a point and figure chart, as would I, but I have used candle stick chart here so more would benefit from it.
I hope it makes some sense.
- Forums
- ASX - By Stock
- PEN
- chart with wyckoffian overlay
chart with wyckoffian overlay
-
- There are more pages in this discussion • 28 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PEN (ASX) to my watchlist
|
|||||
Last
7.8¢ |
Change
0.002(2.63%) |
Mkt cap ! $248.5M |
Open | High | Low | Value | Volume |
7.8¢ | 8.1¢ | 7.7¢ | $683.0K | 8.662M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 249868 | 7.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.9¢ | 213985 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 249868 | 0.078 |
3 | 489610 | 0.077 |
4 | 878947 | 0.076 |
2 | 55540 | 0.074 |
6 | 331272 | 0.072 |
Price($) | Vol. | No. |
---|---|---|
0.079 | 213985 | 5 |
0.080 | 687619 | 4 |
0.081 | 183612 | 5 |
0.082 | 334879 | 2 |
0.083 | 301204 | 1 |
Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
Featured News
PEN (ASX) Chart |