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VSA always depends on OHLC as much as volume, in particular the size of the bar compared to its previous neighbours, the close of the bar compared to the high and the low, and the volume compared to the recent average volume. In this case as the bar closed on or near the high it's likely to be strength until proved otherwise, whereas closing well off the highs would have left other interpretations with higher probability. I do like VSA but it needs careful use in conjunction with other methods to eliminate a lot of false signals, imho (in other words I'm not good enough at it yet...)
VSA is a simpler way of dissecting the times and sales and attempt to tell the story behind it.
The only way one can progress further than VSA is the usage of tape reading, which I deemed it as the ultimate form of VSA. Why do i say so? The close of the bar or the spread of the bar means nothing if you do not see how the trasanctions were carried out. Bar chart is a lazy way to formulate what the market does on that day. A lot of nitty gritty details, which are rather important were actually missed by traders.
i know things dont work out all the time but the up volume with 125 shows large e/r and then the weak up move with 24 shows a nice place to get in for me.. and the 78 down wave i would feel it would start to roll over.. maybe the 166 upwave is climax..
dont believe anything you hear and only half of what you see
i agree with you, after 125, this looks like BC, but we did not see supply coming in, 78 looks like an effort vs result to me. currently I saw buying climax, but I have to wait for supply coming in before I take short position
tough to conclude weakness because there is a trading area to the left side. looks supported. the next bars should confirm weakness or strength. yes its more like effort vs result.