Guys: what is wrong with you? I thought you were professionals.
Here is what matters:
1. Volume on Tuesday was lower than on Wednesday, which means that market is not yet in a mark up phase.
2. Big move of Tuesday coupled with opening gap + volume tells us to expect a retreat.
3. High was achieved at beginning of session which means market will likely end at low end of range.
Pay attention to this: Market did not break low of yesterday (the last time I checked). That is important to note.
I think we are in a range bound, and strong hands if there are any would be accumulating. After accumulation would done, then there would be a mark-up which happens with higher prices and higher volume.
Now does the above makes sense to you or not?
Here is what matters:
1. Volume on Tuesday was lower than on Wednesday, which means that market is not yet in a mark up phase.
2. Big move of Tuesday coupled with opening gap + volume tells us to expect a retreat.
3. High was achieved at beginning of session which means market will likely end at low end of range.
Pay attention to this: Market did not break low of yesterday (the last time I checked). That is important to note.
I think we are in a range bound, and strong hands if there are any would be accumulating. After accumulation would done, then there would be a mark-up which happens with higher prices and higher volume.
Now does the above makes sense to you or not?