sure botchee,I attempt to read the balance between supply and...

sure botchee,

I attempt to read the balance between supply and demand, as at time's just a feather's weight more, of one or the other, can move the market.

On this chart, big lumps of supply and demand move the market quite seriously, both up and down.

I guess at some times this is good, and others not so good.

So I used the weekly chart, as when I compared past price action to the current, it all began to correlate somewhat, and make some sense, but this took quite some time.
(when I first looked, I thought is looked like a blancmange.......well sort of all over the place)

and yes, it has left gaps in the daily chart, which at first look can make it hard to "read", although if you "fill" the gaps it flow's much better.
(I made a chart to show the difference below)

Yes, the 27th Nov bar does look like a shakeout, and there has been some testing like action since.
Monday's bar was a nice test type bar, back into the body of that potential shakeout, with low volume, and a positive response to it today.
Which is quite positive.

The big gap down bar on 30th Oct is the one that I question, it does not appear to have been properly tested.
Mind you it does not "have to" be tested either, it can do what it likes, but I would be far more comfortable if it had been tested, and showed supply had dried up at that level.

Mind you that said, the bar on the 8th Nov. did test into the top of the 30th Oct. bar & perhaps that was enough, especially with the shakeout & test (Monday) in the background now.

and finally what was the 30th Nov. bar all about ??
was that some big crossing between substantial holders, or traded on the open market ??

Anyway here's the daily chart with the gaps, & followed by the same chart with those gaps filled so it flow's, then you can "read" it more clearly.


cheers