Phase E (Accumulation)
Volume Price Analysis glossary · Wyckoff'S Laws & The Four Market Phases
Definition
The cause-induced markup: price leaves the trading range and trends higher on validating volume signatures.
Phase E (Accumulation) in plain English
Phase E is the payoff — the actual uptrend everyone was waiting for. Price leaves the trading range for good and marches steadily higher; this is the 'effect' produced by all the quiet buying (the 'cause') built up during the earlier phases. The key confirmation is the volume 'signature': rallies come on strong, healthy buying volume while the small pullbacks come on weak, thinning volume — the footprint of a market being carried up by real demand, not a fake-out. In everyday terms, Phase E is when the crop the smart money planted finally grows tall, and you can trust it because the volume tells you the growth is genuine.
Also called: Accumulation
Practice Phase E (Accumulation)
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