A: increase on peak followed by inability to rally higher = buying climax. Consolidation range set.
B: Cause being built with sudden change of character - biggest rally since range started. Sign that something is now happening in terms of long/short by smart money. Gradual increase in towards C therefore rally in B seen as sign of weakness.
C: Biggest to date in range (ignore news peaks) at lowest point = spring. Accumulation and not distribution confirmed, tests done after spring too to doubly confirm. Another test possible (first green arrow) where a buy may be entered.
D: LPS (last point of support) before reaching top of range again and marking up. Can scale in at BUI (back up onto ice)/range retest at top dotted line.
E: not taken place yet - markup.
Written prior to the move re: entry (can be checked in link below):
Long on retracement which may be a test. Stop at spring.
Typical Wyckoff minimum 3:1 trade.
Scale in on markup out of range.
TP1 = top of range.