I happened to be one of them. I used to use volume in the past, but now I'm more of the opinion that volume is already included in the price. Also I've had too many missed trades where prices kept going up or down on low volume. And, what's more, those prices actually observed the same price pattern. So I've concluded, volume or not, price will go wherever it must go before reversing.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
I never watched volume, except for checking if I can trade the size I wish without influencing the market. As I only trade the ES volume is never a problem. All you need is price.
Price evolution attracts or scares people, which changes the volume. Price defines the market behaviour.
There are many different ways to kiss or ... your wife.
The same applies to trading strategies.
I don't EVER recall seeing a weekly candle with such a huge wick. The wick itself is bigger than the previous week's candle, not to mention that it completely covers the previous week's body. Not looking pretty at all.
Moreover, look at where the high of the week is in the chart I've posted above. It surpassed all the previous candles, only to crash and close below the last 4 weekly candles.
