Counting across 109 gives us 5 boxes. 109-5 =104 as a
Wyckoff target. However Mr.
Wyckoff pointed out that in this kind of formation the count can rapidly grow. So for example, we have a count of 14 across 108 including the empty spaces. 108-14=94, for another count and this count can grow rapidly in this stepwise fashion.
Ease of movement with a wide range, low close and volume all what we needed with a lower low to confirm the daily trend is down.
Supply overcame demand creating a lower low. Notice the small rallies on the break from 109.2 to 12:05(the rally to 108.75 is of course a reporting error.) Can there be any doubt about what is the direction of least resistance?
Counting across 109 gives us 5 boxes. 109-5 =104 as a Wyckoff target. However Mr. Wyckoff pointed out that in this kind of formation the count can rapidly grow. So for example, we have a count of 14 across 108 including the empty spaces. 108-14=94, for another count and this count can grow rapidly in this stepwise fashion.
Ease of movement with a wide range, low close and volume all what we needed with a lower low to confirm the daily trend is down.
Supply overcame demand creating a lower low. Notice the small rallies on the break from 109.2 to 12:05(the rally to 108.75 is of course a reporting error.) Can there be any doubt about what is the direction of least resistance?
