Composite Man (Composite Operator)
Volume Price Analysis glossary · Wyckoff'S Laws & The Four Market Phases
Definition
Wyckoff's mental model: treat all institutional, well-informed buying and selling as the action of a single 'Composite Man' whose intent can be inferred from the chart's volume-price footprint.
Composite Man (Composite Operator) in plain English
The Composite Man is a clever thinking trick, not a real person. Instead of trying to track thousands of separate big banks and funds, you pretend all the smart, well-informed money is one single mastermind, and you ask: 'What is this one operator up to?' Because every purchase and sale leaves a footprint in the volume and price on the chart, you can read those footprints to guess his plan — quietly buying low, then selling high to the excited public. It's like imagining every professional in the market is one chess player, so you just have to figure out that one opponent's strategy from the moves on the board.
Also called: Composite Operator
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