But think about it. As you said emotion is what moves the market. Rarely do we get a move straight down if the slope is to large to a top. It has to collect money (Maybe volume..hmm) to overcome the energy from buying/covering on the way down.
I have. As I've watched the charts . . . day in and day out . . . for over 16 years . . . and learned their intricacies and secrets.
Gann wrote something like; when time is up volume will cause price to change. Time is definitely most important. Have seen it again and again.
âThe time factor and time periods are most important in determining a change in trend because time can over balance price, and when the time is up the volume of sales will increase and force prices higher or lowerâ (â45 Years In Wall Streetâ, 1941, page 10).
keep in mind when gann wrote his courses. He did not have the tech available to us today. Stay with the spiral charts(square of nine), gann fans, and the basic gann instructions on how to define trend. If you do this, I can nearly guarantee that you will catch every major trend, and its reversal, of any market you choose to follow. The volume charts fix the angles. Think about that. so when you hit a point where price and "time"( read number of bars) square, you can go all in. Believe me Dharma, I can talk Gann all day and all night.
I trade indices so volume does not vary that much i guess. Maybe intraday though. Don´t have volume at the moment but will absolutely take a look at this later. Thanks!
Evidently not long enough to call a short on Feb 2nd. Time isn't important. As soon as you find one single consistently successful trader that makes his decisions based primarily on the time of day . . . introduce him to me.