ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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P,
attached chart shows capitulation volume spike
Px bar that produced capitulation volume had range of H=1372.75 to L of 1371.00 Bar identified with red arrow.
I scalped first bounce, took profit, then waited for a retest of the price range of the capitulation bar, which technically occurred 18 minutes later (marked with blue arrow), but my buy limit was 1372.50 because price usually eats further into the capitulation volume bar.
this is a 1 minute chart.
this info and a billion dollars would make me a millionaire.
attached chart shows capitulation volume spike
Px bar that produced capitulation volume had range of H=1372.75 to L of 1371.00 Bar identified with red arrow.
I scalped first bounce, took profit, then waited for a retest of the price range of the capitulation bar, which technically occurred 18 minutes later (marked with blue arrow), but my buy limit was 1372.50 because price usually eats further into the capitulation volume bar.
this is a 1 minute chart.
this info and a billion dollars would make me a millionaire.
Quote from smilingsynic:
Large volume on 1-minute bars, as I have discussed here before, often suggests trend change. It is true not just in ES, but in other instruments (B1S2 does not agree that volume is important, so we'll have to agree to disagree.
If this bottom holds, 1382 is not out of the question this afternoon.
At 1380, with about ten minutes to go.
Nice call. Mental note taken.... price doesn't necessarily have to spike through the low-tick to mark a turning point.
That Wyckoff spring off the bottom was good enough evidence for me.
The one-minute volume rule works good in ES, but even better in crude, which I used to trade.
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