Fwiw, I generally only pay attention to volume in the opening 45 mins for scalping strats. It’s a template for keeping me on the right side. Climactic volume refers to a big vol spike to mark a top during an uptrend often portrayed as a thrust bar of sorts. Hammer, dojo, etc but I prefer the bar to close down. No, I don’t use them to go short, I use it as a trigger to start looking short if I get confirmation to the downside. After a climactic thrust bar, I like to see 4-8 bars of indecision. Usually volume to the downside immediately after subsides, and longs look to re-enter. So some chop occurs. Once that pullback fails, some form of on par volume down or increasing volume sends me looking short. The buy side vol tends to decrease which u can use as an entry criteria for shorting the top of the next wave once price continues down
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Fwiw, I generally only pay attention to volume in the opening 45 mins for scalping strats. It’s a template for keeping me on the right side. Climactic volume refers to a big vol spike to mark a top during an uptrend often portrayed as a thrust bar of sorts. Hammer, dojo, etc but I prefer the bar to close down. No, I don’t use them to go short, I use it as a trigger to start looking short if I get confirmation to the downside. After a climactic thrust bar, I like to see 4-8 bars of indecision. Usually volume to the downside immediately after subsides, and longs look to re-enter. So some chop occurs. Once that pullback fails, some form of on par volume down or increasing volume sends me looking short. The buy side vol tends to decrease which u can use as an entry criteria for shorting the top of the next wave once price continues down
On another note, let’s use our brains here. If heavy climactic vol bar comes in like it did today, does that mean price has to continue to drop? Of course not. You could have lots of sell orders at 4067, but at 4062 you have high demand. And pricenchops around at 4062 and eats up all supply and it continues up. It’s not a holy grail. It’s a tool.mom that note now I remember why I never contribute to these Forums anymore. I won’t be contributing anymore bye
+20, +17, +11, +13
Nice day. Back later.
Nice day. Back later.
Still HODLing.
No need to have thin skin---your contributions are very much appreciated. I would note, that for me, I never look at volume because it gives me one more piece of info that I can misinterpret. Volume seems to work for you and that's great.
I'm in same boat -- I don't look at volume, except as a breadth-related indicator (i.e., advancing volume, etc.).
May not see any big moves for today's session. There appears to be a slight bias for a pop higher by end of day, but I'm not extremely confident in that outcome. More of a mixed bag as opposed to yesterday which had very strong probabilities of an up move.
I really wonder how a trader could completely have their emotions in check and always do the right thing when it comes to putting on trades, and yet throw such a hissy fit that they have to pick up their toys and leave at once.
I simply said your comment about climactic volume made no sense to me because I was always under the impression that an increase in volume is always a sign for you guys that the move is legit. You ended up providing a good answer which is the point of making comments in the forum.
That dude only posts after the market closes, which might actually be a good thing for this forum.
