Yes, I know what you mean........it looks like it want's to breakout if it can......but keeps drawing out more supply
Ever since that 22nd November bar (after the initial breakout and pullback, which attempted to push higher, but found supply), it has looked like it want's to push higher.
Those last three bars look like a 'shakeout', then a (messy) 'no supply' bar, and then a positive response higher.
Sadly, the midbar close does suggest ongoing supply issues.
It appears price is making a decent effort to absorb the supply coming in, but if the supply continues, or begins to overwhelm the demand, a more violent shakeout, or multi day pullback (a weekly shakeout) may eventuate, in a different attempt to remove the selling pressure.
cheers
- Forums
- General
- Wyckoff trading method
Yes, I know what you mean........it looks like it want's to...
-
- There are more pages in this discussion • 1,231 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Andy Udell, CCO
Andy Udell
CCO
SPONSORED BY The Market Online