Haha....that is exactly what I was going to say, spot on Beany.
Yes, always wait for the response if possible, as that will often clarify what was going on in the previous bar.
And yes it does look like an upthrust, but in general an upthrust is a confirmation indicator (unless it is on very high volume).
It confirms previous weakness (selling), but as mentioned previously, there is now potential strength (buying) in the background, not weakness.
So it is potentially an upthrust 'in the wrong place' so to speak, or a bar that closed poorly masquerading as an upthrust.....we'll see.......
Often these bars are absorption bars (or at least that's what I think of them), and the next bar moves higher, and at other times (when there was actually some supply present), an attempted test follows.
There is a chance the response will be poor of course, and if it was, the depth and duration of a pullback will give some clues for the future....it may be that price only comes back to test the strength of the breakout for instance, before accelerating away again......so we wait and see......
Good Job Beany, always wait for the response if you can, especially if a particular bar is suspicious.
