Sall
I'm sorry, I still don't understand your question. Do you mean buy volume as volume when the price is going up and vice versa?
Volume is the number of shares traded and for every transaction there has to be a seller and a buyer.
It is the buying and selling pressure that makes the price move.
If you are interested in volume (and you have plenty of time) you might want to check out the DB Phoenix thread on here and the articles on his site discussing volume and supply/demand etc.
Justyn.
I'm sorry, I still don't understand your question. Do you mean buy volume as volume when the price is going up and vice versa?
Volume is the number of shares traded and for every transaction there has to be a seller and a buyer.
It is the buying and selling pressure that makes the price move.
If you are interested in volume (and you have plenty of time) you might want to check out the DB Phoenix thread on here and the articles on his site discussing volume and supply/demand etc.
Justyn.
Bill
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Hi
Back from the Foreign Legion and can't remember a thing
I've been having a look at the longer term charts this week with little luck! Couldn't make head-or-tail of the end of day charts but the 60 minute charts seem to show more promise. I've attached a copy of the 60min chart for the last month with a few annotations. The price does seem to react the the 50ema line and RSI14 pd/nd. Well a bit anyway. I think todays push down is as Justyn says the the bottom half target from a rather wonky bear flag. So with very little experience in swing trading/predictions I'm going to stick my neck out and say that the target is virtually met and that the price should pull back towards the 50ema line early next week with perhaps one or two consolidation days. We are still firmly in a downtrend though until the 50ema line is convincingly breached. Perhaps an opportunity to look for shorts on the pullback? I wonder if a turnaround will come after the US elections?
Well there you go if that doesn't turn the market nothing will.
Have a nice weekend
Regards
Bill
Back from the Foreign Legion and can't remember a thing
I've been having a look at the longer term charts this week with little luck! Couldn't make head-or-tail of the end of day charts but the 60 minute charts seem to show more promise. I've attached a copy of the 60min chart for the last month with a few annotations. The price does seem to react the the 50ema line and RSI14 pd/nd. Well a bit anyway. I think todays push down is as Justyn says the the bottom half target from a rather wonky bear flag. So with very little experience in swing trading/predictions I'm going to stick my neck out and say that the target is virtually met and that the price should pull back towards the 50ema line early next week with perhaps one or two consolidation days. We are still firmly in a downtrend though until the 50ema line is convincingly breached. Perhaps an opportunity to look for shorts on the pullback? I wonder if a turnaround will come after the US elections?
Well there you go if that doesn't turn the market nothing will.
Have a nice weekend
Regards
Bill
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Sall, being a simpleton, I look for the simple things in life. Volume is a complex subject and there are some members that know far far more than I do. To answer your question..... On normal charts, ( most in fact) you cannot separate out buy and sell volumes. A n attempt is made to allocate volume( as if it were simulating buyer and seller volume) as follows:- If the current price bar is an up tick, then volume is shown as "all buyers". If the current tick is a down bar, then the volume is shown as "all sellers". We KNOW this can't be right as there has to be a buyer for each seller. However, I find it useful ( although contradictory) to show these as two separate coloured volume bars. I'll get slated for this...... because it goes against all common sense and everyone will tell you it shouldn't be done.Anyway, I find it easy to recognise certain volume patterns this way and I understand what I see( from a limited perspective). In this way I can see volume confirmations of divergence ( when they occur) and volume peaks at tops and bottom. Admittedly, I wouldn't need the two colours to see the volume peaks though. The three main things I look for are confirmation of a PD bottom, where I will see 3 lower lows on volume corresponding to 3 lower lows in price.This is cross referenced to the 3 pk PD .If you match the two up, the chances are you're at a substantial bottom reversal. The second is a general down trend in volume overall ( buys and sells) diminishing to almost zero. This often precedes a price move. Why? because the MM's need volume to earn a living. When it dries up, they have to shift the price one way or the other to precipitate some action.( simplistic view , I know). Thirdly, Volume peaks where you get a spike of >3 times the near current average. This ai almost always a reversal point.Hope that helps.
Failing to break 9800 and ND gave a nice setup for a short... and a nice ride all the way to the bottom.But that bear flag/pullback went 28 points- a big draw down if you were holding on. With no divergence to call a short term bottom, it's a difficult decision to stay or hold....Maybe the 32 bounce persuaded you to close.If you did, you didn't have to wait long to get in on the bear flag with a decent target at just under 9800.That's handy because at 9800 you get a clear signal of failure, or more to come if it meets target.
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TraderTony
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Friday 22nd October 2004
Lost my notes for today but trades marked on chart. Really erratic first half hour followed by choppy action for most of the morning. Beautiful day for those who got short under the 100 ema on the 1m after the first half hour and stayed there all day. I finished a couple of hours early having made a more modest +28 from 7.
+28 from 7
+21 for day after commissions
+220 for October so far after commissions
Lost my notes for today but trades marked on chart. Really erratic first half hour followed by choppy action for most of the morning. Beautiful day for those who got short under the 100 ema on the 1m after the first half hour and stayed there all day. I finished a couple of hours early having made a more modest +28 from 7.
+28 from 7
+21 for day after commissions
+220 for October so far after commissions
Attachments
Hi,
An absolutely terrible week for me. I'm up to my (self-imposed) limit of exposure in IB, so I haven't traded this week. Basically I've collected longs throughout this decline at 10056, 10034, 10012, 9925, 9895 and am 230 points underwater on average.
MarketVolume say downside more or less finished with huge supportive volume on Friday likely to trigger a rise early next week.
Differing opinions from the wavers ...
EWI are rubbing their hands with glee and talking about the 3rd of a 3rd wave (again). Difficult to argue against them when they've been right this week but the waves are not supposed to be news driven (re. socionomics) yet this week certainly has been, ie. oil.
My other EW guru reckons we're in a double zigzag pattern of ABC.X.ABC which itself is the Z wave on the enclosed daily chart.
My own opinion is slightly different ... I think that we've more or less finished the Z wave. But the ABC.X.ABC looks better to me as an ending diagonal at two degrees. If so, we'll be seeing 10,000+ soon. I've dug out an hourly chart which shows this.
I said last week that downside risk was to 9750 / 9800 but I never really expected it to go this low
On balance, I believe downside is minimal from here with good upside potential.
Have a good weekend. Hoping for better results next week
Regards,
Graham
An absolutely terrible week for me. I'm up to my (self-imposed) limit of exposure in IB, so I haven't traded this week. Basically I've collected longs throughout this decline at 10056, 10034, 10012, 9925, 9895 and am 230 points underwater on average.
MarketVolume say downside more or less finished with huge supportive volume on Friday likely to trigger a rise early next week.
Differing opinions from the wavers ...
EWI are rubbing their hands with glee and talking about the 3rd of a 3rd wave (again). Difficult to argue against them when they've been right this week but the waves are not supposed to be news driven (re. socionomics) yet this week certainly has been, ie. oil.
My other EW guru reckons we're in a double zigzag pattern of ABC.X.ABC which itself is the Z wave on the enclosed daily chart.
My own opinion is slightly different ... I think that we've more or less finished the Z wave. But the ABC.X.ABC looks better to me as an ending diagonal at two degrees. If so, we'll be seeing 10,000+ soon. I've dug out an hourly chart which shows this.
I said last week that downside risk was to 9750 / 9800 but I never really expected it to go this low
On balance, I believe downside is minimal from here with good upside potential.
Have a good weekend. Hoping for better results next week
Regards,
Graham
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I sat in there for several days watching a position pop in and out of profit. I got exasperated in the end and pulled the stop in really tight and left it at that. Got stopped but very little damage.
Wonderfull truism, "only speculate with money you can afford to lose."
I'm a fool really. I should have given up on it and come out at zero on the position.
Another good saying is "love your losses" because over a year it gives you a lot of things to love
Wonderfull truism, "only speculate with money you can afford to lose."
I'm a fool really. I should have given up on it and come out at zero on the position.
Another good saying is "love your losses" because over a year it gives you a lot of things to love