hard · Volume Price Analysis climactic

Using Anna Coulling's VPA (not Wyckoff), what phase is most likely beginning, and what is this bar called?

1. A distribution phase is beginning; this bar is called a Selling Climax, the Wyckoff term for panic selling by weak hands, a mislabel here since Coulling names bars for what professional strong hands are doing
2. A continuation of the downtrend is most likely, since the wide spread and record volume simply confirm strong selling pressure; this bar is called an Exhaustion Bar, signalling one more leg lower before any real low can form
3. A markup phase is beginning; this bar is called a No-Supply bar because volume dried up sharply during the final leg of the multi-week decline, showing sellers genuinely ran out of stock left to offer into the market
4. An accumulation phase is most likely beginning; this bar is called a Buying Climax because professional buyers are absorbing supply at scale, with the close in the upper half confirming that strong hands are in control

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