wyckoff schematics

1. Wyckoff Price and Market Structures
Distribution Characteristics
within structure sym. description bar spread close in bar volume
increasing prices PSY Preliminary Supply Widening Lower Increasing
establishes BC Buying Climax Wide Upper Climatic/ High
trading range AR Automatic Reaction Ave/Wide Lower Light
@ top of range ST Secondary Test Narrowing Mid-Lower Decreasing
above upper range UT Up Thrust Narrowing n/a Light
@ low of range SOW Sign of Weakness Ave/Wide Lower Light
@ low of range LPSY Last Point of Supply Narrowing Lower Ave-Increasing
Phase A: (thru preliminary Supply PSY to Secondary Test ST)
Characteristics- Supply is Dominate; Trend is Up.
Typical Price Bar Action-
- PSY: price spread and volume widen, especially on down bars.
- BC: wide spread bar on high volume; close near top.
- AR: down bar on light volume, buying pressure exhausted.
Phase B: (from Secondary Test ST thru Signs of Weakness SOW; Trendless.
Characteristics- Supply = Demand; Trading Range between ST and AR levels; feeble rallys.
Typical Price Bar Action-
- ST: lighter volume, narrow spread; no demand.
- SOW: light volume at bottom of range, increasing volume at top; spread varies.
Phase C: (from Up Thrust UT and Signs of Weakness SOW
Characteristics- Testing Process of,or past, Top Range.
Typical Price Bar Action-
- UT: wider spread on moderate / light volume, weak close.
Phase D: (from Sign of Weakness SOW to Last Point of Supply LPSY
Characteristics- Signs ofWeakness confirmed; Selling Action coming into market.
Typical Price Bar Action-
- LPSY: volume expands, Spreads widen, Weak Closes.
- Fall thru Ice: price “Falls thru the Ice” (support) on gap or wide down bar, strong volume.
Phase E: (from Last Point of Supply LPSY to Preliminary Supply PSY)
Characteristics- Price leaves Trading Range; Supply is Dominate; Trend is Down.
Typical Price Bar Action-
- BU: Back Up to Ice,price advance to ice support on light volume.
- Mark Down: Price swings with lower Highs (light volume) and lower Lows (strong volume).

2. Accumulation Characteristics
within structure sym. description bar spread close in bar volume
declining prices PS Preliminary Support Widening Upper Increasing
establishes SC Selling Climax Wide Lower Climatic/ High
trading range AR Automatic Rally Ave/Wide Upper Light
@ bottom of range ST Secondary Test Narrowing Mid-Upper Decreasing
below lower range SPR Spring / Shakeout Increasing n/a Light
@ top of range SOS Sign of Strength Ave/Wide Upper Increasing
@ high of range LPS Last Point of Support Narrowing Upper Ave-Increasing
Phase A: (thru preliminary Support PS to Secondary Test ST)
Characteristics- Supply is Dominate; Trend is Down.
Typical Price Bar Action-
- PS: price spread and volume widen.
- SC: wide spread bar on high volume.
- AR: up bar on light volume, selling pressure exhausted; watch for short covering.
Phase B: (from Automatic Rally AR thru Signs of Strength SOS; Trendless)
Characteristics- Supply = Demand; Trading Range between ST and AR levels.
Typical Price Bar Action-
- ST: light volume, narrow range; no supply.
- SOS: increasing volume at top of range, light volume at bottom; spread varies.
Phase C: (from Shakeout / Spring SPR to Signs of Strength SOS)
Characteristics- Testing Process of, or past, Bottom Range.
Typical Price Bar Action-
- SPR: Wider spread on moderate / light volume, strong close.
Phase D: (from Sign of Strength SOS to Last Point of Support LPS
Characteristics- Signs ofStrength confirmed; Buying action coming into market.
Typical Price Bar Action-
- LPS: Volume expands, Spreads widen, Strong Closes.
- JAC: Price “Jumps Across the Creek” on Gap or Wide up bar, strong volume.
Phase E: (from Last Point of Supply LPS to Preliminary Supply PSY)
Characteristics- Price leaves Trading Range; Demand is Dominate; Trend is Up.
Typical Price Bar Action-
- BU: Back Up to Creek,price retreat to creek resistance on light volume.
- Mark Up: Price swings with higher Highs (strong volume) and higher Lows (lighter volume).