Follow up on WOW, that potential Short setup came to fruition, 2 bars after that HV low spread bar we had what could have been mistaken for a confirmed test, except that comparative volume, even though lower than previous 2, was a bit high. The following confirmation bar however was a "small spread upthrust on lower volume, mostly spent above previous day, closing mid to low" As discussed previously, a test of demand, an exact opposite of our test of supply, and the following volume slightly increased and close lower confirms it as successful, no demand.
I missed Friday's action as I drove 700kms to take mum out to lunch for her birthday, but it looks like we had a further test of that no demand bar that didn't quite reach old resistance before closing well down on its low on previous support, looks like weakness has arrived and confirmation of the selling in that squat? bar.
@Jako64 - I've read reference to this bar as a squat bar, HV, low spread, is this a VSA term? It does describe it well.
Looking at confirmation on a test of supply on EMC as well, just touched demand line with a potential test on low vol and spread, has previously pushed up from here.
Cheers HF
