If volume increases, expect price to continue. If volume decreases, expect price to change. Price confirms whether or not these expectations are being met. - EZ
Bzzzzzzt. Incorrect. Thanks for posting, and feel free to try again. I do expect everyone who recently posted a question to participate. - Spydertrader
Bzzzzt. Incorrect. See Non-Dominant Price movement which causes your definition to fail (we actully had three bars of decreasing Non- Dominant Volume today one after the other. Price did not change). Please try again. - Spydertrader
Volume sustains price, when volume drops, price changes direction. And the process repeats as long as there is interest in the new direction. Maybe I should have used pushes instead of sustains.
Aha, this has bugged me to the point of migraine! Succesive lower volume non-dom movement can't all be change, change, change, etc. That simply doesn't make logical sense. New Answer: If volume is up, price will contine. If volume is down, price will change. Only problem is, I can't see how this is any different than my first answer. Thank you very much Spydertrader for playing along with the dolts.
Dominant price movement is sustained by increasing volume. We expect these to appear at the same time. [WRT to the question at hand: failure to break a pennant on increasing volume is analogous to price which fails to traverse on a volume peak?]
That seems to be the perfect time to bring out my lack of understanding of P/V relationship. I understand how it manifests itself: Dominant traverses on increasing volume, non dominant traverses on decreasing volume. However I find the Jokari window itself beyond my comprehension. Spent many hours reading posts, temporarily gave up, decided if one can make money pt3->FTT/FTT->FTT, the haven can wait However this post: http://www.elitetrader.com/vb/showthread.php?s=&postid=1833108&highlight=jokari#post1833108 pointed to the possibility that I might be able to understand it.