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For 'No demand' to be correct, you have to have weakness in the background, if you get a sign of strength followed by no demand, then it means that the smart money are not interested in higher prices at that time, and you should be careful if going in, the other thing I find is that most of you seem to view the VSA indicators in isolation, instead of putting them all together to create a complete picture, you have to view the indicators in the same way as a musician, ie read the script and put it all together as the time unfolds.
Hope this post was helpful.
Regards S |
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"Basically you will be watching out for a low volume up-bar, on a narrow spread." Tom Williams
Master The Markets, pg. 32.
At TradeGuider Systems, we define a "No demand" situation as a narrow spread bar, on low volume, that closes in the middle or low." Tom Williams
Master The Markets, pg.153.
Simply put, you are half wrong.
PP defined No demand bars as they are indeed defined. What he did not mention was that all no demand bars are not created equally. They show up in different intensities and in more effective locations, i.e. with background weakness. Therefore, every up bar on volume less than the previous two bars is not a reason to short or expect lower prices. It is still a sign of immediate lack of professional interest. And thus acurrately defined as "No demand".