A more positive idea, seeing the bullish divergence playing out. If EGLD is able to keep the recent low volume of sellers and make a relevant higher low...
Quoting some parts of the original article where they suggest this Wyckoff schematic of Gradient of Rising Bottoms at the very end of it:
"Richard D. Wyckoff and his Associates time and again pointed out the power of ascending bottoms in a base of accumulation or re-accumulation"
"The composite man is willing to play the short side of the market as well during the trading range of accumulation so long as he can abstract a public following of sellers. But as the trading range proceeds, the new schematic reveals that fewer and fewer sellers remain to propel stocks downward in price. As a consequence, the downwaves become shorter and shorter in length (the bottoms rise) and the Composite Man as a result accumulates an increasing line of stock. Ultimately there is little left of sellers to coax to the downside and so the composite man reverses his attention and spurs prices upward and out of the trading range."
"Wyckoff Schematics: Visual templates for market timing decisions" By Hank Pruden and Max von Lichtenstein.
Quoting some parts of the original article where they suggest this Wyckoff schematic of Gradient of Rising Bottoms at the very end of it:
"Richard D. Wyckoff and his Associates time and again pointed out the power of ascending bottoms in a base of accumulation or re-accumulation"
"The composite man is willing to play the short side of the market as well during the trading range of accumulation so long as he can abstract a public following of sellers. But as the trading range proceeds, the new schematic reveals that fewer and fewer sellers remain to propel stocks downward in price. As a consequence, the downwaves become shorter and shorter in length (the bottoms rise) and the Composite Man as a result accumulates an increasing line of stock. Ultimately there is little left of sellers to coax to the downside and so the composite man reverses his attention and spurs prices upward and out of the trading range."
"Wyckoff Schematics: Visual templates for market timing decisions" By Hank Pruden and Max von Lichtenstein.
