Smart Money
Volume Price Analysis glossary · Climactic Price Action & Reversal Dynamics
Definition
Institutional and well-informed participants whose buying/selling drives the structural phases of accumulation, markup, distribution, and markdown.
Smart Money in plain English
"Smart money" is the nickname for the big, well-informed players — banks, hedge funds, and institutions — who trade in enormous size and often know more (or move earlier) than the everyday crowd. Anna Coulling's whole approach assumes these giants can't hide: moving millions of dollars leaves footprints in the volume, and reading those footprints lets you follow their lead. Think of it like tracking a whale in the ocean — you may not see the whale itself, but the huge waves it makes give it away. Their buying and selling is what drives the market's big four phases: accumulate, mark up, distribute, mark down.
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