medium · Volume Price Analysis

What is the primary difference between a 'failed test of supply' and a 'successful test of supply' in the VPA framework?

1. A failed test results in an 'Upthrust', while a successful test results in a 'Spring'.
2. A failed test occurs on the daily chart, while a successful test only ever occurs on a tick-based chart.
3. A failed test has high volume (sellers still present), while a successful test has low volume (sellers gone).
4. A failed test candle is shaped like a hammer, while a successful test candle is shaped like a shooting star instead.

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