medium · Volume Spread Analysis background-trend-context

A stock chart shows a 'low-volume test' at $38.50. The practitioner waits 3 bars and sees the price at $37.90.

By shorting at this point, what principle of VSA is being applied?

  1. The negative response to a positive signal as a confirmation of dominant weakness.
  2. The principle of 'effort versus result' applied to a down-bar.
  3. The 'shake-out' principle, where the trader anticipates a further plunge.
  4. Relative strength analysis, comparing the stock to its parent index.

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