......it seems most people are concerned more with individual bars that the action leading to this point...thus isolating and reducing context...blinkered analysis.This in turn leads to very much ..."yes/no" ..decisions....long or short....the intent and motive of the price movement is key.There is no need for more context than this chart.
i will post a chart of what i beleive is likely to happen next.I no longer believe in giving the answers....unless individuals have come to conclusions for themselves...been thru the thought processes...then the reasons given ar worthless anyway.VSA attempts to box the market and leaves huge holes in between....context is lost....and also contains many illogical assumptions.However ,the path of we choose is our own responsibility....and part of the learning process.Lets just say VSA has too much assumption inlvolved....and its followers mainly assume that these assumptions must be correct.NOTHING of true value is available.....for $50,$500,$2000.....anyways.
The market has,with highest probability created a LEFT HAND SHOULDER and were now instead that shoulder...building to break to the upside to fake,test and exchange with remaining demand....and creating a high degree of weak hand long open interest.We are likley to reverse between 830 and 840....once the exchnage is complete.We are currently showing low volume.....at this point ...yes sellers are in control....very few..and unsustainable.....the extra shorts about to be generated will help conclude the bigger picture.The Intent is still long....The motive....to create final demand to allow the exchange to conclude....and create serious fuel for downside to allow the "professional" sellers to profit.
Every bar is a part of this chain....starting and closing points of these bars are abstract...the market is a continual flow ...like a movie.....not a series of holiday snaps.So to see beyond these abstract time slots is key.The market doesnt like to be boxed.Understand their creation and the action merely confirms high probability outcomes we already had in mind.If not you are reacting.When you buy and sell....you do so with regards to value....value is the current price compared to projected future price .Future flow also has to be projected.Your size needs to be filled at these projected future prices.Professional decision making is based upon a projection of future order flow.Anyways....back to meetings.
Mark j