I hazard a guess that Wyckoff would say the three laws need to be applied — supply and demand, effort vs result and cause and effect. We would like enough cause on the time frame we trade to produce the desired effect. However, if you trade a smaller time frame like a five minute or hourly, you shouldn't expect the effect of a larger time frame, say daily or weekly. It certainly coiled nicely there on the hourly if that's where you like to work. On the daily, weekly and monthly it is still in a down trend. The area with the wide bar and high volume where supply came in at 0.10 may need to be tested.
