Chapter 13 - Redistribution The redistribution Phase is a range that comes from a bearish trend and is

followed by a new bearish trend. Multiple Phases of redistribution can occur within a large bear market.
This is a pause that refreshes the value to develop another downward movement. Redistribution or
accumulation This type of structure starts the same as the accumulation ranges; therefore a very
judicious analysis is necessary in order not to lead to erroneous conclusions. This aspect is undoubtedly
one of the most difficult tasks for the Wyckoff operator: to know how to distinguish between a
redistribution range and an accumulation range. Stock controlDuring the periods of redistribution, the
great professional who is already short returns to sell around the top of the range and potentially cover
(close/buy) some of his positions near the base of the range. In general, they are increasing the size of
their short position during range development. The reason they close some of their short positions at
the base of the range is to provide price support and not to push it down prematurely before they can
establish a significant short position. Redistribution remains volatile during and at the end of its
development before continuing the downtrend. The hands that control the value will change during the
course of the trend. At the beginning of a bearish trend, the value is under the control of very strong
owners (professional traders, strong hands), but as it develops, the stock will gradually change towards
less informed operators, weak hands. At this point, it is said that the supply is of poor quality and the
market needs to restart a process of stock absorption in which again it is the big operators who take
control.