| Phase | Content |
|---|---|
| A | Stop downtrend — PS, SC, AR, ST |
| B | Build cause — repeated tests |
| C | Decisive test — spring common |
| D | Demand dominates — SOS + LPS |
| E | Markup — leave range |
Richard D. Wyckoff
1873—1934
Accumulation — phases A–E (Wyckoff)
Wyckoff accumulation schematic: PS, SC, spring, SOS, LPS through to markup (phase E).