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.
You will be finding the following, with the envelope concept: Prices will move from bottom of the envelope to the top of the envelope. If prices are going to exit the envelope, the pldot will push it. Once outside the envelope, prices will stay outside until opposing energy will force it inside, and we observe this energy by knowing what patterns do the job. It is consistent, and reliable.
Before we start, I wish to explain one terminology. It is that when prices exit an envelope, that like the wave of an ocean, it expresses true force. We call it a ‘seawave’. On the charts that follow, there will be many text passages mentioning the word ‘seawave’.