TheShakeOut
Short

GBPUSD shows weakness on the weekly chart

CME:B61!   BRITISH POUND FUTURES
The chart tells a story and the story unfolds bar by bar.
TalalBin Malek
2 years ago
Could you please tell me a bit more about how to identify "No Demand"
Reply
TheShakeOut TalalBin Malek
2 years ago
Thank you for your message, TalalBin Malek.

A sign of No Demand would be an up bar with low volume, volume lower than the previous two bars, and without a bottom tale. A close of the bar in the middle or on the lows adds to the weakness. This sign is confirmed if the next bar is a down bar, that means that the price has responded to the weakness.
See on the chart bellow, bar 4 (it is actually two bars) each one of them is a No Demand bar that is not confirmed, and bars 10 and 16 are confirmed No Demand bars.

If you want to learn more about the imbalances of supply and demand that drive the markets, I recommend you read VSA experts Tom Williams and Gavin Holmes, very few people in the world understand the markets like they do.

If you have more questions do not hesitate to ask. I recommend you follow my profile, I publish daily updates for the analysis of the daily chart of the EURUSD that you can see below.
Confirmation of the weakness in the EURUSD
Reply
TalalBin Malek TheShakeOut
2 years ago
Thank you very much for your prompt response. It has been very helpful. I often get confused between no supply and no demand signs. I believe, I need to practice more and work a little bit more on my understanding of the basic principles involved.
+1 Reply
TalalBin Malek
2 years ago
and all your suggestions were excellent. Thank you for guiding me in the right path with all your suggestion.....
Reply
TheShakeOut TalalBin Malek
2 years ago
You are welcome. If you have any questions ask do not hesitate to ask.

By the way, on my broker's data feed of spot Forex with tick volume, there was a nice confirmed No Demand at 4am GMT.
Reply
TheShakeOut TalalBin Malek
2 years ago
I am very passionate about understanding the markets. And I like to help people who want to learn about them :)
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