The red bar you are referring to is not red, it is black. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1961917">
I recommend focusing on your purchase of BEXP yesterday in an effort to differentiate this trade, from others. The Stock found itself in 'Dry Up' on Monday. Volume pushed Price higher on Increasing Black yesterday while, "taking the stock out of Dry Up," and thus, providing a 'signal to go long.' Today, with the overall market down over a hundred points, BEXP continues to perform well. Nice trade. - Spydertrader
Three Levels of Trends (Tape, Traverse and Channel) exist in the attached chart. Note the 'signals' of change which develop on each level. Note how the 'sequences' materialize as Price moves from Point One to Point Two to Point Three. Note how the 'Chubby Tape' differs from an actual Traverse with respect to its construction. Note what other sequences (with respect to Traverse or Channel formation) have not shown themselves in this specific example. Lastly, now that Price has constructed a Channel out of Traverses, note what Price must do in order to head back to the channel RTL. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1962001>
Whenever increasing Volume arrives onto the scene, always look to see if Price has created a Point Three. Meanwhile, ehorn spent the morning honing his photoshop skills. Nicely done guys. - Spydertrader