On the previous post for my followers I wrote: The most rational expectation - a continuation of the persistence of bulls and more attack on the 7020 support level (caused by major 7k figure). y5eLsmh[1].png1006x877 132 KB Unfortunately, it was my mistake. I put the wrong word “bulls” instead of “bears”. I hope, you have understood my thoughts correctly, as bulls can not attack support levels. What new did we have to get on the chart? 1/ SLKT above previous minor highs and above round number. This diversion designed to: a) kill sellers b) trap buyers. It is a sign of upcoming decline 2/ SB (confirmation) 3/ ND (more confirmation) Then we got the Breakdown. The successful attack of bears on the 7020 support level (caused by major 7k figure). It was a very heavy dump. 7k should act as the resistance now.
No I disagree. The approach with volume is more complex then simple SD or advanced buy sell orders as seen in the bars. Pattern and wave theory are built on how institutes take profits or prepare for a long or a short...it is not garbage...it is buy and sell orders and how you see them in a chart
May 1st, The Tom O'Brien Show on TFNN - 2020 copy paste into browser bar - //youtu.be/fYsg4VuLKrE?t=162 spy, ndx100 to 192 (213), youtu.be/fYsg4VuLKrE?t=364 gc, ty us, dxy, eur, youtu.be/fYsg4VuLKrE?t=736 dow, ndx100, youtu.be/fYsg4VuLKrE?t=1458 spy h of l 262 (282) May 1st, Trade What You See with Larry Pesavento on TFNN - 2020 youtu.be/2XrtaKtKGh4?t=1499 cycles weekly youtu.be/2XrtaKtKGh4?t=1022 crude oil youtu.be/2XrtaKtKGh4?t=786 nov beans youtu.be/2XrtaKtKGh4?t=322 dollar index youtu.be/BA1iZAyU2qA?t=1099 spx, May 1st, The Bull Bear Hour on TFNN - 2020 youtu.be/kbJhcxSgZSE?t=2358 uso etf storytime, indexing causing crazy things... youtu.be/kbJhcxSgZSE?t=2547 es, nq 'done', gc, eur, May 1st, The Tiger Technician's Hour with Basil Chapman on TFNN - 2020 youtu.be/ObRq8bV96_4?t=894 es youtu.be/ObRq8bV96_4?t=1477 $indu, $SPX, QQQ, $DXY, gc, youtu.be/ObRq8bV96_4?t=2180 "technical friday", es, $VIX.X
I like the CBOE Volatility annotated chart. https://www.elitetrader.com/et/attachments/basil-chapman-vix-jpg.226846/ I can't remember the website but it would do the same along with overlaying a Emini ES futures chart on top of the CBOE Volatility...very interesting to look at with the annotations to give it the market context. Yet, I'm not an indicator person but I liked everything else about the chart. Charts without the market context info....just boring charts. wrbtrader