@Phoenixx I'll add some comments too as i had a quick look at the PGD chart and it did produce a clear example of No demand (ND) (on the 2 mins). My favourite variation of a 4 candle pattern when looking for fake breakouts. The rationale around this concept is that a TA trader going long would be expecting significant volumes and spread to the upside at candle "3" in a genuine breakout. The volume may sometimes arrive at candle 4 or 5 so its by no means an issue yet at this stage, merely a potential red flag.... but the next high volume candle (candle 4 or 5 )provides strong indication/confirmation of whether sellers or buyers are firmly in control. Try observe this at the next breakout point for a stock you are following and let me know what you think.
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