I think yesterday was a game changer.
While the chart mode is still up on this 1440 minute chart, a close below the balck line today would definately signal a change in behavior. I would not be surpised if tomorrow turns out to be an Up bar on volume less than the previous two (ND) or Down bar on volume less than the previous two (Test).
I know that covers both sides LOL.
But if the trend is changing, then we should start to see Up intervals on decreasing volume.
And if the market is still bullish, we know that selling is resistance to any up move, and therefore the SM would want to Test before taking prices higher.
With all that said, we have a jobs report tomorrow so a low volume day might not even be in order.
Thoughts?
While the chart mode is still up on this 1440 minute chart, a close below the balck line today would definately signal a change in behavior. I would not be surpised if tomorrow turns out to be an Up bar on volume less than the previous two (ND) or Down bar on volume less than the previous two (Test).
I know that covers both sides LOL.
But if the trend is changing, then we should start to see Up intervals on decreasing volume.
And if the market is still bullish, we know that selling is resistance to any up move, and therefore the SM would want to Test before taking prices higher.
With all that said, we have a jobs report tomorrow so a low volume day might not even be in order.
Thoughts?
Wyckoff VSA: (1) Supply & Demand (2) Effort vs. Result (3) Cause & Effect