Question regarding PA

PAAddict

PAAddict

Hi I was trying to spot something important in this price action regarding the next most probable scenario (Upside or downside breakout) but I cant find anything remarkable here. Perhaps someone in ET has a better understanding of PA and can help me understand what important information I am missing here.
question.png
 
speedo said:
It's just consolidation (chop). The break favors the direction of the move into consolidation but it'll do what it wants.
More...

Thanks speedo, I was just wondering if there are clues in volume that can help one decide if one direction has more strength than the other.
 
PAAddict said:
Thanks speedo, I was just wondering if there are clues in volume that can help one decide if one direction has more strength than the other.
More...
The volume into the support range as well as the direction speaks to the more likely move up.
 
speedo said:
The volume into the support range as well as the direction speaks to the more likely move up.
More...

Interesting, support range? Are you talking about the 50% level marked in the chart or is it something that is not marked in the chart. Besides, I do not see something remarkable in the volume levels, perhaps you can clarify exactly what is it you are seeing. Thanks for the reply.
 
My trades and analysis are based on multiple time frames. It may be that on a higher tf, these "breakout" attempts are but complex corrections in larger trends.
 
You must log in or register to reply here.
Back
Top