![]() ![]() VSA does not really have a word for this type of bar.we have tried naming it (but that is another story.for another time)īut if we look over at Wyckoff for an answer.without going into too much detail right now (later maybe), it is a potential absorption bar. So, it is not an upthrust.even if it looks like it is. ![]() but it isn't really in the right position for an upthrust, and it didn't act like an upthrust (next bar was not lower). ![]() Yes I know it looks like a nasty upthrust. And all of the trading the next day was above the previous bar's close. This thought is supported by the next bar which is an upbar (how could price close higher if all that volume was selling on the downbar). I suggest there is the potential that the volume on that down bar may have been sufficient (enough) to 'stop' the downward stride (trend), and at least knock the price sideways, and perhaps be the beginnings of some strength in the stock. The only way to resolve the inconsistency between those two bars, is that there was hidden or concealed buying within the down bar marked 'PSV'.Īnd this support/buying/accumulation (or whatever else you might like to call it) narrowed the spread of the bar, and stopped the bar losing as much ground, as compared to the other similar widespread breakdown bar. ![]()
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