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It depends...low relative volume at a specific price level can be a strong support, resistance, or breakout level.

I like constant volume bars, because it filters some of the noise produced by time charts during congestion periods. However I'm beginning to question if constant volume bars are perfect, and if it accurately displays the relationship between price & volume. For example, after reading bolter's...

I'm done for today, zero trades for me.

IMHO, at the moment those sell stops are being taken out. I'm just waiting to see if this run is for real or a fake.

This could be another fakeout similar to yesterday. I'm on the sidelines until price breaks higher. If not I will be looking to short.

A high volume churn day so far in this 5 point range. http://emini-watch.com/emini-daily-update-volatility-and-volume-churn/88/

Checkout bolter's thread on volume profile: http://elitetrader.com/vb/showthread.php?s=&threadid=63202

Apex82, You have my vote of confidence. I appreciate your participation/sharing and look forward to hearing your daily commentary. Keep up the good work!!!

Interesting click. I just don't get why so many people believe daytrading is such a bad thing. Unlike any other entrepreneurial effort.:confused:

Went long at 1428.50 got out at 1430.00. Typically I would have stayed in until 1431.25, but I don't like to be in a trade for very long this late in the day.

At the moment, I won't go long until 1427.50 is broken.

It looks like the low of the day will be 1427.50.

I got 1427.75.

IMHO if it breaks below 1435.50 then it may test 1431.50.

Based on the following link Esignal is properly constructing constant volume bars: "...For example, to create a 1000 contracts per bar bar chart (meaning you want the bar to fill with 1000 contracts or shares before starting a new bar ) you will have to enter 1000V. For any number of...

Is this a wave 4 until it breaks above 1439.25?

Watchout for the freight train going south?

Wave 3 Down Confirmed? Break of 1430.50.

Yes you are right. My weighted cash market chart (INDU, SPX, & NDX) showed a breach because the NDX was hammered yesterday.

Checkout 4re's closed journal at: http://elitetrader.com/vb/showthread.php?s=&threadid=69230 P.S. 4re, everyone is waiting for you to start part 2 of your journal!:)