I am quite confuse about something.. when i see a long move up, do i look out for no supply bar to get in the trade and follow its upmove.. or do i lookout for the no demand bar to trade the reversal?...
whenever i see strong upmove for a period of time, with some up bars showing weakness in that up move, and price nearing some resistance level with my oscillator in the overbought zone, i think the time for it to reverse must be coming soon.. so i lookout for the no demand bar to trade the reversal.
But i find myself 60-70% wrong most of the time and the price just turn against me...
can someone who has gone though this phase before shed some light on this? could it be soemthing to do with the accumulation and distribution?
i use ibfx and HG Volume.
f451: hi, u mentioned "I look to spot climatic bars on 1HR or 4HR..." do u sit in front of ur computer whole day to spot that climatic action bar or u use indicator to alert u? mind share the alert if there is one pls?
btw, it is not advisable to buy that no demand in purple, coz the volume is not lesser than the previous 2 bars, right?
and the part which u mentioned "i would not read this bar as a 2bar reversal(which would be an upthrust)"... can explain why? is it becoz you think that a 2bar reversal cannot be considered as valid upthrust if the volume is too high??
... and i don't see that green upbar has a narrowing spread as compared to its previous green bar.. so what makes it an upbar with narrowing spread?
whenever i see strong upmove for a period of time, with some up bars showing weakness in that up move, and price nearing some resistance level with my oscillator in the overbought zone, i think the time for it to reverse must be coming soon.. so i lookout for the no demand bar to trade the reversal.
But i find myself 60-70% wrong most of the time and the price just turn against me...
can someone who has gone though this phase before shed some light on this? could it be soemthing to do with the accumulation and distribution?
i use ibfx and HG Volume.
f451: hi, u mentioned "I look to spot climatic bars on 1HR or 4HR..." do u sit in front of ur computer whole day to spot that climatic action bar or u use indicator to alert u? mind share the alert if there is one pls?
btw, it is not advisable to buy that no demand in purple, coz the volume is not lesser than the previous 2 bars, right?
and the part which u mentioned "i would not read this bar as a 2bar reversal(which would be an upthrust)"... can explain why? is it becoz you think that a 2bar reversal cannot be considered as valid upthrust if the volume is too high??
... and i don't see that green upbar has a narrowing spread as compared to its previous green bar.. so what makes it an upbar with narrowing spread?