Let's take a look at similar volume readings back to April and see if there are any patterns.
Now starting with today and going backwards to the other instances...
Conclusions:
1) The trend is your friend -- especially in monolith creeper-grinders. All of the days finished green except for today and 4-1. But today was basically unchanged and the divergence is not significant. 4-1 had a morning liquidation move but ran into support just below the prior day's range -- indicating no real selling event going on.
2) Range extreme tests of prior sessions are high odds for a reversal response within the context of mostly inside range sessions.
3) Each day featured neutral extreme sediment readings.
4) The 4-8 Monday morning balance gave way for a double distribution breakout that closed on highs. Goes to show just how the tight balance principle can really launch price -- even without big volume. And how the daily trend can be a powerful influence even on low volume days.
5) Finally, play for tight targets, respect those range extremes and don't out-think the trend.
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