hi rtellie,
hopefully I understand your query correctly
the first red bar that is almost touching the 43.5 cent level is responding to what appears to be BUYERS at that level as has been the case before at point No1.
the second red bar following No2 is an ultra high volume UP bar closing off it's highs, normally this is a sign of weakness ie. disguised selling by the pro's
not quite sure rtellie, what you mean by 'selling into strength'
now were at this area, I'm assuming your implying that the professionals are selling into the buying of the herd because the price has just broken thru a resistance level of about 52cents and they are catching all the breakout buyers
imo, those buyers should have waited for a test, say on the weekly, which actually failed to show and that would have kept them safe and dry and that trade
cheers
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- weekend charting 26 /28 nov 2010
weekend charting 26 /28 nov 2010, page-58
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