🧠 The 3 Phases of a Major Trend: How Smart Money Enters and Exits Without You Noticing

In Dow Theory, a primary trend isn’t just a simple up or down move — it unfolds in three distinct phases, each reflecting a different mindset in the market:

1. Accumulation Phase:

This happens right after a downtrend. Most traders are still fearful, but smart money starts quietly buying before any good news hits the headlines.

2. Public Participation Phase:

The market starts moving strongly. Positive news spreads, indicators turn bullish, and the majority jump in. This is often the longest and most profitable leg of the trend.

3. Distribution Phase:

The smart money begins to sell gradually. Prices may still rise, but momentum slows. Retail traders are still buying, unaware the big players are quietly exiting — just before a downturn.

Understanding these three phases helps you identify where you are in the trend — and whether you're riding with the pros or chasing the crowd.

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📌 In the next article, we’ll dive into breakouts, confirmations, and how to spot real trend shifts — not traps.

🔍 If you’re serious about trading, stay tuned for the rest of the series.

👉 Like & share if this gave you a clearer view of how markets really work.

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