Thursday, August 14, 2008
Open the chart in new window to get a better view.
Notice the bar with the diamond underneath, but pay closer attention to the volume of that bar.
It was Extreme volume and it followed a down bar which at the time was Extreme volume as well. Two extreme volume bars, indicating that it could be stopping volume; but the one with the diamond had some other things working for it as well. The diamond bar was a Pinocchio bar and notice the yellow line, that line is vwap.
Heavy volume on a pin bar that bounces off of vwap, no need to tell me twice!
"Nuttin to fear when we smell dough in the air".
I'm long at the close of the diamond bar.
Two bars later, the arrow bar, volume is nowhere to be found and it actually signals a No Demand bar. I took my small 15 points off the table as it looked as if no buyers were around.
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3 comments:
I'm sorry sir, i don't understand you!
"does anyone here speak jive?"
He said that he's in great pain and he wants to know if you can help him.
I know this has to mean something to someone... at least, I HOPE it does or I am going to be concerned with a certain someone's sanity.
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