Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
I would not have traded the NQ, nor the QQQ, but looking at the QQQ chart there were a few moves that did work out fairly ok for the little boxes.
I think the idea behind the box might have been to show how price can move (repeatedly) within a certain range within a certain timeframe?
Hindsight is a great thing, and it is always a lot easier after the facts, but I do think there is enough consistency in certain markets for one to set targets based on measured moves - however, I would not make a trading decision based solely on lines or boxes - to me they are but tools to help identify entry / exit levels.
It will be interesting to see if the boxes are of any value tomorrow, or will a new set be required!
I don't think I am giving away anything here, am I
J_S
I think the idea behind the box might have been to show how price can move (repeatedly) within a certain range within a certain timeframe?
Hindsight is a great thing, and it is always a lot easier after the facts, but I do think there is enough consistency in certain markets for one to set targets based on measured moves - however, I would not make a trading decision based solely on lines or boxes - to me they are but tools to help identify entry / exit levels.
It will be interesting to see if the boxes are of any value tomorrow, or will a new set be required!
I don't think I am giving away anything here, am I
J_S
Fine, no more beating around the bush, this site is in need of a gem and I'm happy to provide it. Maybe it will rid this place of a few gurus. And remember these are guidelines, I'll leave it to the trader to figure out the logic. 
If price is going up on increasing volume, the short-term trader should look to go short. If price is going up on decreasing volume, the short-term trader should look to go long. Reversed for downward price movement. The most important factor is liquidity at the market, while extensive volume analysis isn't necessary it is the foundation of how price moves.
FS
If price is going up on increasing volume, the short-term trader should look to go short. If price is going up on decreasing volume, the short-term trader should look to go long. Reversed for downward price movement. The most important factor is liquidity at the market, while extensive volume analysis isn't necessary it is the foundation of how price moves.
FS
Fine, no more beating around the bush, this site is in need of a gem and I'm happy to provide it. Maybe it will rid this place of a few gurus. And remember these are guidelines, I'll leave it to the trader to figure out the logic.
If price is going up on increasing volume, the short-term trader should look to go short. If price is going up on decreasing volume, the short-term trader should look to go long. Reversed for downward price movement. The most important factor is liquidity at the market, while extensive volume analysis isn't necessary it is the foundation of how price moves.
FS
That is a very dangerous statement to make without solid proof, as it may cost someone a good deal of money to discover that the guideline is not as straightforward as one may think it is!
http://www.investopedia.com/articles/technical/02/010702.asp
Never believe what is written to be an absolute truth, just because it is written!
Todays strategy needs to be different to what it was some years ago, for obvious reasons such as advancements in digital electronics and speed of data calculation and transmission.
I will say what I think is far more important, again, and that is - find out what the big boys are doing and learn how to SEE what they are up to.
Luckily enough, most programming is still done by humans today (well for now anyway), and humans being humans will reference historical information as the basis for future design.
If you are lucky enough to know a top paid programmer for one of the big players, and get him pissed drunk one night, he might just let a few KEY things slip that could save you endless waste of time and money!
J_S
Fine, no more beating around the bush, this site is in need of a gem and I'm happy to provide it. Maybe it will rid this place of a few gurus. And remember these are guidelines, I'll leave it to the trader to figure out the logic.
If price is going up on increasing volume, the short-term trader should look to go short. If price is going up on decreasing volume, the short-term trader should look to go long. Reversed for downward price movement. The most important factor is liquidity at the market, while extensive volume analysis isn't necessary it is the foundation of how price moves.
FS
Thanks FS. You are the first poster I've seen on the board since the OP to suggest doing the exact opposite of classic TA. Now I just need to figure out if you're full of shit.
On the surface it makes sense. Higher volume means bigger traders with deeper pockets. Naturally the market would have to move away from such levels. On the right path?
BD
...
I don't think I am giving away anything here, am I
J_S
J_S
I get the impression that you are very smart and are simply playing a role of being uninformed.
I'll ask you a question, do you believe that there really is an "obvious" secret?