Thank you for your responses everyone (even though most of them are sarcastic). Just to clarify, I am not fishing for strategies or set-ups. The reason I am asking is because I really donât know and donât have personal experience. So even something like âold saw: 'sell in May and go away' â is new for me (if true). And I appreciate your help.
For the record I wasn't being sarcastic, the pound really is a stubborn bitch, I've lost most of my money stupidly betting it was going to fall! lol
hello there, one can go well with share market only if he would have good experience or well knowledge of Nifty Options tips.
all the cycle stuff is hog wash... just observe the price.. you do it long enough, you will come across moments when you say to yourself - i bet the house on it the market is gonna do THIS.
Every chart like every market is cyclic but you have to construct a chart naturally to fully see and utilize these cycles. I've found the only way to construct a chart naturally is to use volume bar charts because they eliminate the variable aspect of time. Once you have the chart constructed find an indicator you like that matches the price oscillations. Lastly remember that the only parts of a cycle that are a constant are resistance & support. Every cycle will be made up of a different number of bars but you will always be label to compare price at each sequential support and resistance level to see price direction and strength.
Volume doesn't mean a thing. I see big volume on low price moves and vice versa every day. I used to think the same, but now volume is the last thing I look at, if I look at it at all.
I agree that volume by iself is worthless or using volume as a separate indicator on a chart is just mildly worthless (some use it effectively). I'm talking about consruting a chart using volume bars exclusively. Huge difference.