This chart really shows it!
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Volume Spread Analysis (VSA) and background 5 replies
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Dislikedanother channel i drew on s&p emini after market opened. see how it is respected all day. 1111 horizontal line is based on globex premarket action which is one of my favourite indications. i emphasize it all over again- vsa is about watching markets for thousands of hours and getting a feeling for it.Ignored
Dislikedjust something easily i wanted to show you. in such occassions you can assume that the excessive volume is not buying but a buying climax.Ignored
DislikedHmm
i think overall you have true. but in one thing you missunderstand that High Volume up bar.
I think .this bar that you marked is Effort by SmartMoney to go up (This is kind of principle- up bar closing on the high with high volume agaist Resistance is not weakness but strength that you missunderstand i think ) BUT Next bars tell us that there is so much SUPPLY (that BreakEvent ppls that was going long and now covering their position as you also told thats true) so Effort vs results was still too much supply so price then go lower.
but i was...Ignored
DislikedLet me take a stab at it:
the DX shows very High Volume on a fairly low spread up bar. The weekly EUR/USD chart shows very high volume on a sizable down bar ( last weeks )
The pros must be selling the Euro and buying the USD, slowly accumulating maybe because we don't see a lot of upward movement on the DX but alot of volume. Does this sound right?
Lots of activity, things should get interesting!!Ignored
DislikedHmm
i think overall you have true. but in one thing you missunderstand that High Volume up bar.
I think .this bar that you marked is Effort by SmartMoney to go up (This is kind of principle- up bar closing on the high with high volume agaist Resistance is not weakness but strength that you missunderstand i think ) BUT Next bars tell us that there is so much SUPPLY (that BreakEvent ppls that was going long and now covering their position as you also told thats true) so Effort vs results was still too much supply so price then go lower.
but i was...Ignored
DislikedMan, some great educational posts yesterday. Thank you.
Dr. G. or Malcolmb, if I may ask a question just to make sure I am understanding. Do selling/buying climax most often happen after a break down of a supply line or demand line and there you will also have a change in sentiment. just as in the GU yesterday.Ignored
DislikedGU ..weakness is there.
It seems that even if FOMC makes usd weaker it may only be a temporary pop
volumes suggest traders may still be bear gu
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Dislikedholding this till 5800 ....nice week will be able to get my Cayenne turbo this weekendIgnored
DislikedMalcomb - MykeFx - where You see UPBAR on high volume ?
I see only downbars ( narrow , closing of the lows.. ) on high volume...
Thanks.
Best,
TomIgnored