Wyckoff trading method, page-46

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    OK, before we go on, just a couple of things to point out.

    If /When we look at the price action on a chart and say things like "they did this" or "they did that" or "it did this or that"

    We are not actually talking about anyone in particular, or any group in particular, we are commenting on what  Wyckoff called "the Composite Operator"
    And the Composite Operator is the market as a whole, or at least all the participants together who are trading a particular instrument (in this case a stock).
    What he was saying was that "the market as a whole did this", or "the market as a whole did that".  

    That said, in smaller and illiquid markets/instruments, the price action can sometimes be directly proportional to professional activity (IF... they are actually involved at all...which is not Always.)

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    there was something else I was going to mention, but i've forgotten for now after writing all that......i'll remember shortly and put it up later.

    cheers
 
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