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<p id="isPasted">Legendary technical analyst Richard Wyckoff believed stock prices are determined solely by supply and demand and has little to do with rumours, stock tips, news items, financial reports and a host of other sources of information.</p><p>According to Wyckoff, the detailed analysis of supply and demand can be done by studying price action, volume and time.</p>
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<p id="isPasted">Wyckoff followed a five-step approach to the market in which he gave significant emphasis to stock selection and trade entry.</p><p>Determine the present position and probable future trend of the market.</p><p>Select stocks in harmony with the trend. In an uptrend, select stocks that are stronger than the market</p><p>Determine the stocks' readiness to move</p><p>Select stocks with a “cause” that equals or exceeds the minimum objective</p><p>Time your commitment with a turn in the stock market index</p>
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<p id="isPasted">Richard Wyckoff method of profiting from the stock market using technical analysis and relative price strength has stood the test of over 80 years was taught by Richard DeMille Wyckoff in the beginning in 1931. Wyckoff described many important aspects of the stock market in a book titled Studies in Tape Reading. His observations are still valid today.</p><p>Richard Wyckoff believed most strongly that stock prices were determined solely by “supply and demand.” He had little use for tips, rumors, news items, earnings analyses, financial reports, dividend rates, and the myriad of other sources of information. He was a true …</p>
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<p><br>The four phases of the Wyckoff cycle are accumulation, markup, distribution, and markdown. They represent trading behaviour and price action. Once the final markdown phase of the Wyckoff cycle is complete, a new accumulation phase kicks off a new cycle.</p>
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