A possible long entry on QIHU

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1 - Long spread candle on high volume that closes slightly off its lows, but the next candle is up on increasing volume . Notice also that the next candle touches new lows. Accumulation starts here
2 - A low volume narrow spread candle: lack of demand
3 - Again a high spread candle on high volume , the next candle touches new lows but closes higher: another accumulation sign
4 - Increasing volume on up bar, but the closure is off the highs. We are not ready for higher prices yet
5 - Narrow spread candle on very low volume and the next candle closes higher on increasing volume: a successful test of no supply
6 - Price rises but there still are sellers up here since the candle closes in its middle on increasing volume and the next candle closes lower
7 - A narrow spread candle that closes off its lows on increasing volume: accumulation sign
8 - Another accumulation sign: long spread down candle on increasing volume but next candle is up
9 - Successful test of no supply
10 - Lack of demand after a rally, a retracement could start from here
11 - Failed test of no supply since volume is high
12 - Here we have another test. Next candle is technically a confirmation, but the volume is low, almost equal to that of the test candle. A good long entry could be at the breakout of candle 12's highs.
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