easy · Volume Spread Analysis climaxes-tests-springs-upthrusts
A 'Failed Test' is identified when a price probe into a prior support area is accompanied by high volume.
What does this signal to the practitioner?
- The market is extremely strong because so much volume was traded at the lows.
- The trend has immediately reversed into a bear market.
- Professionals have completely finished their accumulation campaign.
- Sellers are still active in that area, and the market is not yet ready to rise.
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