We tend to see strong demand on Weekly chart (Background Strength) With diminishing demand on Daily. Thus there might be supply coming in at those level for the shorter time frame period to retest the trend line drawn.
Join me with my analysis via Volume Spread relationship as I show you the logic behind money flow to trade alongside Smart money.
Key concepts: 1)Smart money always buy on down bar and sells on up bar
Therefore: Weakness is always shown in upbar Strength is always shown in the downbar
2) Relative Effort VS Results We will see an abnormally when: There's a huge volume but little price change (Narrow Spread) There's a low volume with huge spread (markup / test)