Wyckoff Deep Dive - Complete Course Index
A complete structured course in Wyckoff's method of tape reading, from first principles through execution philosophy.
Wyckoff Deep Dive - Complete Course Index
This course is a structured deep-dive into Richard D. Wyckoff's method of tape reading and stock market technique, based directly on his Course of Instruction in Stock Market Science and Technique (1931, revised 1937).
Each level builds on everything that came before. The dependency is strict: concepts at higher levels cannot be correctly applied without firm understanding of all lower-level concepts. Follow the reading order below.
How to Navigate This Course
- Reading order: Work through levels 0 → 8 in sequence. Each post links to the next.
- Navigation: Every post has ↑ Level Contents (this level's posts), ← Previous, and Next → buttons at the top and bottom.
- Starting point: Begin with The Tape as Source of Truth - Level 0.
- Where you left off: Each level has its own index page listing all posts in that level.
Course Overview
| Level | What You Learn | Posts |
|---|---|---|
| Level 0 - The Axiom | The single founding premise from which all Wyckoff analysis flows: the tape is a complete and sufficient record of supply and demand. | 1 posts |
| Level 1 - Governing Laws | The three universal laws that govern every price movement in every market: Supply & Demand, Cause & Effect, and Effort vs. Result. | 3 posts |
| Level 2 - Framework Constructs | The conceptual models built on the Laws: the Composite Man, the Four Market Phases, and the chart reading tools. | 4 posts |
| Level 3 - Analytical Methods | The six skills for reading price and volume data: Trend Analysis, Volume Studies, Buying/Selling Waves, Technical Position, Comparative Strength, and Figure Chart Analysis. | 7 posts |
| Level 4 - Campaign Reading | Understanding what the large operator is doing and where they are in their campaign - the synthesis of all Level 3 methods into actionable intelligence. | 4 posts |
| Level 5 - Market Maneuvers | Named events at phase transition points: bullish maneuvers (PS, SC, AR, ST, Spring, Springboard, SOS, LPS), bearish maneuvers (PSY, BC, AR, ST, UT, UTAD, SOW, LPSY), and refinements. | 8 posts |
| Level 6 - Phase Structures | The complete multi-event formations: Accumulation, Mark-Up, Re-Accumulation, Distribution, Mark-Down, and Re-Distribution - the full Wyckoff cycle. | 6 posts |
| Level 7 - Decision Framework | Converting analysis into decisions: Nine Buying Tests, Nine Selling Tests, Stop Placement, Position Management, When to Avoid Trading, Multi-Timeframe Coordination. | 6 posts |
| Level 8 - Execution Philosophy | The mental and behavioral disciplines required to act correctly: Market Philosophy, Paper Trading, Managing Hope and Fear, and Avoiding Overtrading. | 4 posts |
Total: 43 deep-dive posts across 9 levels.
Level Summaries
Level 0 - The Axiom
Prerequisites: None - this is the root premise.
The single founding premise from which all Wyckoff analysis flows: the tape is a complete and sufficient record of supply and demand.
Level 1 - Governing Laws
Prerequisites: Level 0 - The Axiom.
The three universal laws that govern every price movement in every market: Supply & Demand, Cause & Effect, and Effort vs. Result.
Level 2 - Framework Constructs
Prerequisites: Level 1 - all three Governing Laws.
The conceptual models built on the Laws: the Composite Man, the Four Market Phases, and the chart reading tools.
- The Composite Operator
- The Four Market Phases
- Chart Types and Reading Tools
- Wave Chart Construction and Reading
Level 3 - Analytical Methods
Prerequisites: Levels 1 and 2.
The six skills for reading price and volume data: Trend Analysis, Volume Studies, Buying/Selling Waves, Technical Position, Comparative Strength, and Figure Chart Analysis.
- Trend Analysis
- Volume Studies
- Buying and Selling Waves
- Technical Position
- Comparative Strength and Weakness
- Figure Chart Analysis (Cause and Price Objectives)
- Figure Chart Analysis - Measuring Cause
Level 4 - Campaign Reading
Prerequisites: Levels 1, 2, and 3 fully.
Understanding what the large operator is doing and where they are in their campaign - the synthesis of all Level 3 methods into actionable intelligence.
- Campaign Mechanics
- Absorption Detection
- Stock Selection and the Position Sheet
- Five Technical Positions
Level 5 - Market Maneuvers
Prerequisites: Levels 1–4 fully.
Specific named events at accumulation-side transition points: Preliminary Support, Selling Climax, Automatic Rally, Secondary Test, Shakeout, Spring, Springboard, SOS, LPS; bearish counterparts: Preliminary Supply, Buying Climax, Automatic Reaction, Up-Thrust, UTAD, SOW, LPSY; and refinements.
- Opening Maneuvers - Bullish
- Shake-Out and Spring
- Springboard
- Sign of Strength and Last Point of Support
- Opening Maneuvers - Bearish
- Up-Thrust and Up-Thrust After Distribution
- Sign of Weakness and Last Point of Supply
- Refinements
Level 6 - Phase Structures
Prerequisites: Levels 1–5 fully.
The complete multi-event formations: Accumulation, Mark-Up, Re-Accumulation, Distribution, Mark-Down, and Re-Distribution - the full Wyckoff cycle.
Level 7 - Decision Framework
Prerequisites: Levels 1–6 fully.
Converting analysis into decisions: Nine Buying Tests, Nine Selling Tests, Stop Placement, Position Management, When to Avoid Trading, Multi-Timeframe Coordination.
- Nine Buying Tests
- Nine Selling Tests
- Stop Order Placement
- Position Management
- When to Avoid Trading
- Multi-Timeframe Coordination
Level 8 - Execution Philosophy
Prerequisites: Conceptually requires Levels 1–7; practically must be understood first.
The mental and behavioral disciplines required to act correctly: Market Philosophy, Paper Trading, Managing Hope and Fear, and Avoiding Overtrading.
- Market Philosophy and Principles
- Paper Trading Apprenticeship
- Managing Hope and Fear
- Overtrading and Position Sizing