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23/04/17
10:14
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Originally posted by Jako64
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No demand are usually narrow spread upbars on low volume, that close in the middle.
No supply are generally narrow spread downbars on low volume (I say generally, because they can sometimes be slight upbars, so long as the majority of the bar traded as a downbar for the period), they are pretty much like a test bar, but often a no supply bar will have a low close, whereas a test bar will close middle to high.
No demand bars are used to confirm weakness already in the background (a nasty selling bar-which is usually an upbar on high volume, with the next bar down), and no demand bars, are confirmed with the next bar being down....preferably seriously down.
No supply bars are used to confirm strength already in the background (a potentially strong buying bar-which is usually a downbar on high volume, with the next bar up), no supply bars, and test bars, are confirmed with the next bar being up.
These two are generally mirror images of each other.
did that help ??
Actually, is that what you meant ??, or were you meaning bars like those ones on the RXP chart that were masquerading as no demand bars, but were probably something else ??
cheers
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Morning Jako,
What response on Monday are we looking for to confirm mark up is occurring. (This is where you frequently trade if I'm not mistaken). My paper trade was closed for a profit.
If this is potentially the start of a markup, where should I be looking to enter? Should I be going for breakout entries or tests along the way? A tick above the high of Friday's bar? $0.86? Otherwise I like the trade of 90 to 98 with SL 87.5.