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01/10/16

17:25

Post #: 19560692
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Originally posted by Jako64 ↑

Yep, that is pretty good overall, I understand what you are seeing.

Just remember that individually a narrow spread upbar on high or very high volume, suggests serious selling pressure has come in.
And while when put into context with the chart it might infer absorption at times, however - if the next bar or bars don't respond higher, it has probably drawn out supply or selling pressure.

And when considering two bar reversals, I usually don't call them as successful or complete, until the close of the second bar is above the high of the first bar....or there is a future close in response that is above the initial bars high (which sort of makes it a three bar, or four bar reversal in some respects, any longer than that I would give up on calling it a reversal of any kind).
Prior to exceeding the initial bars high (in my opinion) it is only a Potential or Possible two bar reversal, and remains vulnerable to further supply coming in.

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Thanks mate, how's them Doggies Great game
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