Yes but spikes aren't signs of weakness in a trending environment, they're signs of strength. Unless the other side does something and moves it the other way, it's simply adding more fuel to the fire, as those spikes in volume will cause one side to bail, and the longs are not in a position to bail at the moment. Wyckoff etc. works great in a normal environment where volume can be seen being absorbed, but instead of looking for buyers to get exhausted, look at all the time sellers got exhausted (particularly 3:02pm NY time).
ES Journal Archive (2011)
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Yes but spikes aren't signs of weakness in a trending environment, they're signs of strength. Unless the other side does something and moves it the other way, it's simply adding more fuel to the fire, as those spikes in volume will cause one side to bail, and the longs are not in a position to bail at the moment. Wyckoff etc. works great in a normal environment where volume can be seen being absorbed, but instead of looking for buyers to get exhausted, look at all the time sellers got exhausted (particularly 3:02pm NY time).
I'm talking about spikes in price not volume. This latest spike had very low volume. And, the way I define trend, we are in a downtrending environment. Thus I look to sell upward spikes on poor volume/internals.
You just show your newbie colors with statements like that.
Anything can happen at any given time.
Crazy A
GordonTheGekko
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Sold out of a last minute 3-min long holding before the bell
Gap fill above at 54-55.
Not that it may tag first, just in case.
GordonTheGekko
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Like a flash crash.
Lost track of the day. This volatility is great. With all the trading, ended up short 2 contracts overngiht from 1135. +40pt day for me
3 levels I am watching on the upside are 50, 55, and 76. Downside are 21, 11, and even point.
Have a good eve all.
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