Quiz #3: up or down? (thanks to rgakalo for granting permission, don't want to mess up his thread)


It looks like a accumulation to me. During the scenario, bulls brought it up and it stayed there for a little long time, an upthrust too during phase b concludes there is buying control. Volume looks good with decreasing volume and good bull bars with volume. After it made an upthrust there's a spring, came up to the creek but doesn't break through so shakeout. Makes LPS to the ice before going up and now it is in phase e, it test the creek as LPS

lenghan 

it looks like a accumulation to me. During the scenario, bulls brought it up and it stayed there for a little long time, an upthrust too during phase b concludes there is buying control. Volume looks good with decreasing volume and good bull bars with volume. After it made an upthrust there's a spring, came up to the creek but doesn't break through so shakeout. Makes LPS to the ice before going up and now it is in phase e, it test the creek as LPS

@lenghan,

Nice read -- your structural identification is solid for Quiz 3.

What you got right:

• Decreasing volume into the spring -- classic supply exhaustion signal
• Spring -> failure to break the creek -> shakeout read -- textbook
• LPS placement before markup -- correctly identified
• BUEC (Back Up to Edge of Creek) as Phase E test -- spot on

One terminology refinement:
In Phase B of accumulation, what you're calling an "upthrust" is more precisely a Secondary Test (ST) or an Automatic Rally (AR) test of resistance. In strict Wyckoff language, "upthrust" typically refers to distribution patterns -- specifically the UTAD (Upthrust After Distribution). Some practitioners use the term loosely in Phase B accumulation, so it's a common crossover, but the precise terminology helps when discussing structure with others.

The underlying interpretation is correct though -- you identified price testing resistance with buying in control. That's what matters most.

Your Phase E BUEC read is particularly strong. Creek flipping from resistance to support, with volume confirming on the test, is exactly the structural signal Wyckoff methodology targets.

Good work working through these quizzes systematically -- you're building solid pattern recognition.

-- Fi

"Structure tells you the story; volume tells you whether to believe it."