...or a match !
ES Journal - 2019/2020
- Thread starter Buy1Sell2
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...or a match !
Not even 2 hours into the trading session, both ES and MES are running 60% plus the volume of yesterday. This is true for both RTH and 24hr charts.
If anyone here cares.
That's what I read, that on the way up volume was thinner and thinner.
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Yes. But what's the implication of that? Can it be used for predictive purposes?
How many of you have traded or followed the ES for 10+ years? Am I imagining things or were the price action cleaner in the past with more follow through and less retraces/backfill? Or have the ES always been that way?
Today was one of the better days with actual momentum and follow through, but there's generally a lot of retracements and spikes in this instrument. Sure makes it extra challenging to trade as you're always questioning if it's a deep retrace or a reversal. At least when you're currently in a trade with real money.
Today was one of the better days with actual momentum and follow through, but there's generally a lot of retracements and spikes in this instrument. Sure makes it extra challenging to trade as you're always questioning if it's a deep retrace or a reversal. At least when you're currently in a trade with real money.
remember the slogan..'He's a flipper and a fighter, he's a Yamaha rider'
I don't think that ANYTHING can be used for predictive purposes.
That said, the theory (I don't have the volume data to test it) is that moves with low volume are suspect. Regarding this last move up, at the beginning there was high volume, but as we kept going up it kept getting lower and lower, i.e. the last part of the move up is a short squeeze and now we should drop some (not as in doom and gloom, but as in a normal correction of the correction).
As in good for a short?
I'm not reading much into this at this point... I need to see 24hr volume near 2 million (someone I think in this thread spoke of something called "pace") to suggest that this is another leg down. I use fast charts for my trading, not dailys, so this particular volume read is merely one piece of a bigger picture view.
This particular sell off, could see 2795 without a change of "pace".
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