Phase C (Accumulation)
Volume Price Analysis glossary · Wyckoff'S Laws & The Four Market Phases
Definition
Decisive test phase: contains the Spring or Shakeout — a final dip below support designed to clear weak sellers before markup begins.
Phase C (Accumulation) in plain English
Phase C is the sneaky final test before the real rally, and its star move is the 'Spring' (or 'Shakeout'). Think of a store dropping the price for one last flash sale that's actually a trick: price briefly dips BELOW the floor of the range, which scares nervous holders into selling and triggers the stop-losses of people betting on a crash. Once those weak sellers are flushed out, there's almost no one left to sell — so price snaps back up above the floor, and the smart money has grabbed the last cheap shares. In short, Phase C is the trap that clears out the doubters right before the move-up begins.
Also called: Accumulation
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