medium · Volume Spread Analysis wyckoff-phases-schematics
As a market transitions from distribution to markdown, how does the 'Path of Least Resistance' change?
- It remains upward until the price breaks the 200-day moving average.
- It shifts upward because 'short covering' provides new demand that fuels the markdown.
- It becomes neutral as 'strong holders' and 'weak holders' reach an equilibrium of volume.
- It shifts downward because professional buying has decreased on up-moves and supply is increasing.
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