TheBramble
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Bracke, I'm not an experienced member of this thread, but FWIW...bracke said:
FTSE pushing up under increasing volume until about 10:00.
Seems 'comfortable 'at 4520-ish.
Volume spikes fail to increase price which may indicate balanced view on value.
Slightly increasing volume shows slightly increasing price, but looks set for a ceiling (at least for the short-term) at 4540.
The Bramble
Thank you for your view
Apologies if I have offended or put off posters with my phrase "Can we have the benefit comments of the experieced members of this thread please" I should not have restricted the replies to one group, so please all of you lets have your view.
Regards
bracke
Thank you for your view
Apologies if I have offended or put off posters with my phrase "Can we have the benefit comments of the experieced members of this thread please" I should not have restricted the replies to one group, so please all of you lets have your view.
Regards
bracke
TheBramble
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Someone deleted him.
barjon
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bracke
I don't really qualify but my reading is that although the volume wasn't huge it was ok and (more importantly?) it was steadily increasing, there couldn't have been much selling about and buyers were needing to bid up prices to get filled. The first volume spike on a narrow range bar seemed to indicate a big increase in sellers (pros?) but still compensated by demand (herd?) - I closed half position here since it was around that resistance level - the next bar was up so demand still there.
The second spike and more sellers and although the next bar was down it was on low volume so sellers not following through.The third spike again sellers in (at about the same level as previously) but a narrow range bar and still compensating demand (pros v herd again?). Since then it climbed a bit on low volume (last of herd demand being soaked up?) and then drifted down with volume picking up a bit on the down moves although they are only narrow. That's been enough for me to close out entirely.
I don't really qualify but my reading is that although the volume wasn't huge it was ok and (more importantly?) it was steadily increasing, there couldn't have been much selling about and buyers were needing to bid up prices to get filled. The first volume spike on a narrow range bar seemed to indicate a big increase in sellers (pros?) but still compensated by demand (herd?) - I closed half position here since it was around that resistance level - the next bar was up so demand still there.
The second spike and more sellers and although the next bar was down it was on low volume so sellers not following through.The third spike again sellers in (at about the same level as previously) but a narrow range bar and still compensating demand (pros v herd again?). Since then it climbed a bit on low volume (last of herd demand being soaked up?) and then drifted down with volume picking up a bit on the down moves although they are only narrow. That's been enough for me to close out entirely.
bracke said:
bracke,
I must say I'm not very good on intra day volume analysis.
I'll look back at EOD volume and try to make a judgement on whether the move is sustainable or not basis the volume print. Often I've notice rallies that go up on light volume and fall just as quickly and others that go up on light volume and stay there or move higher....
I guess price is the most important indicator to me. If it can stay where it is = strenght. If it drops
well they move was false and price is always right.
Something I had drummed into by studying LBR's works.....
KJH
barjon
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As I understand it, It's not so much sprat to catch a mackrel but starting to unload while there's still strong demand. Then keeping on feeding in supply but only commensurate with reducing demand so as not to move it down 'til they are ready and have got rid of their stock. Then short it and give it a nudge to get it going down. I suppose the first signs of the last stage will be reasonable range down bars on increasing volume?
bracke said:
Bracke,
Sorry about that...
Linda Bradford Raschke
Street Smart fame...
http://www.lbrgroup.com/
kjh
Hi all, I am going to concentrate my trading on FTSE100 index, can somebody recommend a suitable charting package for both R.T and EOD. I have looked at Sharescope but I think the range of options it covers is far more than I need, something more basic would suit me fine.
Hi Bracke, I saw your post on the other side. Quite busy at the moment generally with the thread on the ADVFN site although its not to busy>S eems that the posters are spread between 3-4 sites at the moment.... will post my thoughts tomorrow. i promise the you can ask all the questions you like.
Good morning all,
Interesting day yesterday...
The US doing its thing after Europe closing again.....
I have equalisation with the DOW (FTSE-DOW) at 4478. This being the % drop the dow put in after the FTSE index close. Note also this was yesterdays low.
Will be interesting to see if it achieves this level--could warn of strength or lack thereof.....
Pivot from the daily range is 4510 and the swing from june 23 low to yesterdays high is 4497ish.
You'll notice on the 5min intra day chart attached that yesterdays range 50% level is 4506 and also the swing mentioned above 38.2% RET come in at 4506.
Still have the index gap down at 4465-72 from 22-23rd of june that may or may not be filled....
Yesterday move was also a measured move from the low of June 22 to the high of june 24
(56 points) from yesterdays low-high (4478-4535 = 57 points)
It will be interesting to see how far this market gaps down on the open.....and then what it does !
As always--price is always right.....
KJH
Interesting day yesterday...
The US doing its thing after Europe closing again.....
I have equalisation with the DOW (FTSE-DOW) at 4478. This being the % drop the dow put in after the FTSE index close. Note also this was yesterdays low.
Will be interesting to see if it achieves this level--could warn of strength or lack thereof.....
Pivot from the daily range is 4510 and the swing from june 23 low to yesterdays high is 4497ish.
You'll notice on the 5min intra day chart attached that yesterdays range 50% level is 4506 and also the swing mentioned above 38.2% RET come in at 4506.
Still have the index gap down at 4465-72 from 22-23rd of june that may or may not be filled....
Yesterday move was also a measured move from the low of June 22 to the high of june 24
(56 points) from yesterdays low-high (4478-4535 = 57 points)
It will be interesting to see how far this market gaps down on the open.....and then what it does !
As always--price is always right.....
KJH
