That run starting at 1262 cash was because the downward trendchannel
of yesterday and today was broken,
of yesterday and today was broken,
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Its all about "tests"
- Thread starter steve46
- Start date
Quote from steve46:
One can see that there are a number of tools that can be used to help look at the concept of tests. Pivots are useful in that there are a number of traders who use them and price obviously reacts in the proximity of these "lines in the sand".
You may be interested in a thread that dbphoenix has started at t2w:
http://www.trade2win.com/boards/showthread.php?t=20336
Simple S/R is also useful since the tests and swing points are visible to everybody.
Yes Mr. Burrows is well known to me as he was an ET member for quite a while.
As I mentioned before, volume spread analysis is an important tool to learn, not only in a formal sense, but in order to develop a real "feel" for how a market is likely to move.
Now, as luck would have it we have come a long a little bit faster than I anticipated. Also several ET members have been kind enough to post in a thoughtful manner about elements of this concept that they find interesting.
Here is what I suggest to you all
If you will look at the volume directly preceding a move up or down, you will see what I mean. Go to a wide range bar on a chart with 5 min bars or candles. Mark it as to time. Then re-size your chart to 1 min bars/candles and check it out. Make note of how volume ramps up just prior to the move. You should see a gradual increase and then at some point, a sudden bump up in volume. Then the move occurs and it "snowballs". Check it out and see if I am right. The final thing to do is to compare volume levels to size of the bar. What you want to do is to see how far price moves on specific volume. This tells you who is winning the war, buyers or sellers
As I mentioned before, volume spread analysis is an important tool to learn, not only in a formal sense, but in order to develop a real "feel" for how a market is likely to move.
Now, as luck would have it we have come a long a little bit faster than I anticipated. Also several ET members have been kind enough to post in a thoughtful manner about elements of this concept that they find interesting.
Here is what I suggest to you all
If you will look at the volume directly preceding a move up or down, you will see what I mean. Go to a wide range bar on a chart with 5 min bars or candles. Mark it as to time. Then re-size your chart to 1 min bars/candles and check it out. Make note of how volume ramps up just prior to the move. You should see a gradual increase and then at some point, a sudden bump up in volume. Then the move occurs and it "snowballs". Check it out and see if I am right. The final thing to do is to compare volume levels to size of the bar. What you want to do is to see how far price moves on specific volume. This tells you who is winning the war, buyers or sellers
Here is another chart of current price action
Note the volume and size of candle as price moves to test the
upper LRC channel
Now if one were to look "into" the candle with 11,738 contracts, I think what you would see would be really help you to "see" how the move develops before the actual breakout.
Just a thought
Steve
Note the volume and size of candle as price moves to test the
upper LRC channel
Now if one were to look "into" the candle with 11,738 contracts, I think what you would see would be really help you to "see" how the move develops before the actual breakout.
Just a thought
Steve
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its all about making $$$, which I do a good job at.