dave, could you be specific? I don't see what you're referring to. Did youread his site? he explains how you're supposed to interpret it - his version atleast. btw I'm long VNG.un (TSX) from around $10.80 (Aug 9). Just dipping my toes in this new concept of no volume (or atleast lacking explosive/increasing volume) on breakouts. Seems to be going ok...for now. We'll see.
Here is my experience using volume.... this is solely based off my own experience and years of trading and looking at charts.. Volume breakout patterns are most important when analyzing smaller cap stocks.. for bigger cap stocks its less relevant. I think the paccharts would be good for key support resistance levels for bigger cap stocks.. because for breakouts its not usefull..
Todays ES extremely low volume of the day was from 1:25-1:35pm. Then you bracket and hold all afternoon if you can stomach making money that quickly....lol
Look guys, whether right or wrong...I'm right and ... you're wrong. btw I'm also long THY.un (TSX) but this one did have big daddy volume - I'm agnostic, I just want a trend.
Haven't read thru the entire thread, sorry if this is redundant. But the subject is something I'm struggling w/right now and recently posted about in the Yahoo Wyckoff group: >> so why don´t you use volume at these important junctures? While the cash markets are not very enlightening to volume analysis, the futures are. << I'm sure you're absolutely right but that's a whole thing w/me right now - vol, vol, vol. I've actually been purposefully staying away from vol for the past couple of months because I've come to realize that it's been confusing my analyses and screwing me up for years. I'm not putting down or doubting Wyckoff pv principles, far from it. I realize the problems come from my own inadequacies correctly interpreting it, of course. But I find vol can be very ambiquous and I realize now that I have tended in the past to force an interpretation upon it, rather than letting it speak to me if and when it should, and instead of letting price action be the dominant factor in my analysis. Lately I've found that focusing almost exclusively on price action, for the time-being, has given me a clearer perspective of what price is actually doing in relation to trend/consolidation cycles. My plan is to first get a better grasp of price action in this manner and then gradually introduce vol back into the picture. I have to change that mindset I have of forcing something on vol that isn't really there, and understand it only as significant relative to the price action. Or as you say, at the important junctures. H
Is Vol. Impt? Look at the adv/declines on the NYSE. Peak 920ish. Look at the volume on the NYSE. Low. Range lowest for along time. Seems like 900+ on A/D would have fueled a better move than today but I suppose the missing ingrediant was vol. Thoughts? D.