Just buy dips on high volume
- Thread starter 1a2b3cppp
- Start date
I feel like I'm going crazy. I swear this was effective when I made this thread. Mayve I need to go over it some more.
Go long after at least three down candles with increase in volume. This means just a down candle on gigantic volume isn't a signal. It needs to come after a downtrend which we will define in this case as three down candles in a row.
Go long after at least three down candles with increase in volume. This means just a down candle on gigantic volume isn't a signal. It needs to come after a downtrend which we will define in this case as three down candles in a row.
Understanding your strategy within the context of the daily swings might be helpful. You might want to check out the Taylor Trading Technique:
In that context, Tuesday was a Short-Sell day. The market had traded two days from low to high. On the Short/Sell day you are supposed to short the penetration of yesterday’s High near the open and hopefully the market will move lower...which is exactly what happened...it was textbook. This is not a day for your strategy. Today was a good old fashioned trend day down. There was distribution in the mid-morning...but it got stopped short by the GLow. It looked pretty bullish for a while, but after a failed breakout the sellers came back with a vengeance. Continued selling on increasing volume...not a good environment for your strategy.
Tomorrow is a “Buy Day”. The market has traded two days from High to low. If the Buy Day appears to be working, this is a day when your strategy could work.
That is something unknown to me. Sales pitch? Is he a trading "guru"?