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Old 02-22-2008, 12:38 PM
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Re: [VSA] Volume Spread Analysis Part II

Remember: Strength appears on down bars and Weakness appears on up bars ideally. Hence the ideal test bar closes down. Next would be an equal close and the third option is up.

So without looking at your chart again, the general answer is yes an up bar could be a test. However, like TG says, "pay more attention if the test is on a down bar".

In a Shake out, however, the ideal would be a close on the highs with a close higher than the previous bar on high to ultra high volume.

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