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Yes, hinge is a Wyckoff term. Here's the definition from my website:
Hinge: The focal point of converging support and supply lines. (See apex, dead center, pivot, wedge).
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
It's right after a buying bar or a demand bar you have small range bars( market correction 1 to 5 bars) normally they close in the middle or on the high this means lack of selling the volume is low and the ranges of the bars are narrow : the buyers are in control . It means the buyers are maintaining the gains. There is also an inverted hinge for the sellers.A sort of a bear flag.
Gary i've got a question. Who is the CM ? MMs Specialists and dealers papers or big locals ? Or are the institutional traders ? Because if specs and funds sell the new low and buy the new high if the volume is present who is in the other side of the trade. I look the T&S when we are at the top and i see buy market orders filled by large block of sell limits. This is scary. I don't think ordinary people buy with limits orders and sell with sell limit orders.
Composite Man: The term used to refer to the sponsors or large professional interests in the stock market, also called composite operator.
Strong hands tend to buy markets at areas where they feel the market has "value" to them. If they feel the market will be going higher with trend, they will defend these supports. They tend not to buy the resistance areas as they allow the specs and funds to push the market through these resistance areas and do the work for them. So when a market is nearing support, you many times will see a transference of risk from weak hands to strong hands. Many specs and funds will be scared to buy a market that is breaking to support in an uptrend because many feel this support will be broken and strong hands defend it. The opposite holds true for a market in a downtrend.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
• "Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight. If he does not, he is gambling."
• Wyckoff's goals were to select only stocks that move soonest, fastest and farthest in bull or bear markets. He limited losses and let profits run.
• "Stock market technique is not an exact science. Stock (and commodities) prices are made by the minds of men (and women)." Mechanical trading methods or
mathematical formulas cannot compete with good human market judgment.
• Whenever you find hope or fear warping judgment, close out your position.
• Being in the market at all times is not the key to profits. Being in the market when there is a clear, unconfused technical signal, and the trader's judgment is not
swayed by emotion, was Wyckoff's method for trading success.
• "I have yet to find a man, in or out of Wall Street, who is able to make money in (markets) continuously or uninterruptedly. Like anyone else, I have good and
bad periods."
• "Success in trading means excess of profits over losses. If anyone tells you they can almost be invariably successful, put him down as trying to impose on your
credulity."
• "While I have made it a practice to limit my risk in most cases, I can trace most of my principal losses to my failure to place stop orders when the trades were
made."
• "Whenever a (market) situation is not entirely clear to me, I find I can clarify it by putting down on paper all the facts, classifying them as favorable and
unfavorable. In thus writing it down on paper, I not only have time to reason out each point as I go along, but when I get it all down it can be looked over an
analyzed to much better advantage."
• "People are successful in business because, while they make mistakes at first, they study these mistakes and avoid them in the future. Then by gradually
acquiring a knowledge of the basic principles of success, they develop into good business men. But how many apply this rule to investing and trading? Very few do
any studying at all. Very few take the subject seriously. They drift into the market, very often get 'nipped' as the saying is, avoid it for a while, return from time to
time with similar results, then gradually drift away from it, without ever having given themselves a chance to develop into what might be good traders or intelligent
investors. This is all wrong. People go seriously into the study of medicine, the law, dentistry, or they take up with strong purpose the business of manufacturing or
merchandising. But very few ever go deeply into this vital subject (of trading and investing) which should seriously be undertaken by all."
dont believe anything you hear and only half of what you see 
