Oil seems to be building a cause!

By understanding Wyckoff Theory you actually understand movements that take place. Currently the market has had volume increases that pushed back against the heavy bullish volume. Creating a Primary Supply, after the reactions you’ll have the testing phase, the 1st “TEST” will always break your PS either bullish or bearish. But the 1st test should result in an “Automatic Reaction”, these actions are generally created by smart money moving in or out of their positions, generally when smart money exits, dumb money is FOMO. But smart money has more exiting to do, so an AR will result in a reaction to test the “T”, these next tests “Secondary Tests” will test out the Stop losses for any sellers who got dupped into selling, when this happens all of those STOPs get hit, generally producing a heavy push and then an abrupt reversal, this is called an “UpThrust after Distribution”, if this UTAD results in price pulling back into the consolidation, I am now looking for a “Last Point of Supply”. This LPS can be a high risk entry, or you can wait for some additional confirmation.
I’m sorry to over explain, but I truly recommend new traders learn what Wyckoff was talking about. Good luck.