[zeon]

Within the context of Tuesday's selling climax and re-test, I thought it might be interesting to discuss 'the big picture'. Mainly, because I seem to recognize the same concepts and as they apply on each timeframe,...

From what I can see:
(a) is a selling climax on huge volume, and demand overcomes supply because if you blend the bars, it's a hammer-like formation and price closes well off the lows
(b) a break of the demandline
(c) a higher low
(d) a re-test of the low, and on lower volume
(e) a shake-out and in effect another test, on higher volume but price closes off the lows
(f) a higher high
(g) and a higher low => confirmation of new uptrend
(h) a new (cyan) demand line can be drawn

Forget for a minute that everybody is saying that this is a bear trend and just look at the chart. Or for the sake of the exercise suppose that this is a intraday chart instead of a daily one, doesn't this validate taking a long position? What elements have I interpreted incorrectly?