Charles Drummond – P&L Accumulation Distribution
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Here is a sample segment from the “Accumulation/Distribution Seminar.” The Drummond Envelope is introduced in this work:
“Before we go ahead, we have to make clear what “Distribution and Accumulation” is and why we use it.
Distribution relates to how resistance performs.
Accumulation relates to how support performs.
If the market is going up, it will become involved with geometric resistance. Once it is into this resistance, the market energy should start to distribute, and selling commence, and become stronger than buying. By observing the quality of the distribution, we approach the art of monitoring the resistance. We do this by observing how price action reacts away from the resistance, by observing if the high of the price bar stops in resistance, and even more importantly, if the energy has enough in it, to force a close down off the resistance. And, we enhance even further the concept, by observing the quality of this distribution as forced by the geometric tools presented herein: namely, r-su-zones, airbag, envelope, and pldot.
For example: as you all know,,,, when the pldot starts to hold on top, you have some energy to the downside. You could say that the pldot is distributing. It is resistance, and having some effect. It is knowing when that pldot is going to distribute, that gives you the edge in trading. Our thesis is that one can know when to expect this to happen, as we get to know the theory of the envelope. Added to this, is the concept, that a lower time period will start to show distribution of a higher time period pldot, and we do this by using the geometric tools presented herein.