Spydertrader's Jack Hershey Futures Trading Journal

I have a question about dominate volume. Up until 10:30 the dominate volume is down and the trend is down. Then we have a start of a new uptrend with pt. 1 at 10:30, pt. 2 at 10:45 and pt. 3 at 11:00. Once we start the new uptrend should we be concerned with the dominate down volume of the previous downtrend OR should we be focusing on the current uptrend and volume at hand?

The reason I ask is sometimes the new uptrend can just be retrace for a new point 3 in the downtrend and sometimes it’s not. I’m just trying to be on the right side of the mkt.

Thxs

 

focusing on the current uptrend and volume at hand.

 

Take a look at the attached Nikkei chart and tell me what happens next. The final bar shown is complete and is in very dry-up.

No Str/Squ.

(I've not embedded the chart as it could be considered OT.)

 

My guess is attached. No looking until you make your own guess.

- Spydertrader

 

so the uptrend cont. but I could be wrong

 

This is my shot at it and I didn't even look yet at anyone else's

 

?

 

I think uptrend continues. Possibly after price crossing RTL for a little. The reason is that I do see decreasing volume but NOT decreasing red volume. Price is just moving sideways -> no change. It will go up.

regards,
Ivo

 

The dominant trend of the forest is down. The break out of the RTL (brown) does not show a strong B2B relative to the previous volume levels and goes into a lateral with decreasing volume. This does not represent continuation of a dominant uptrend therefore the latest action is likely a larger retrace creating a new point 3 (down) of the forest as its channel is widened. So IMO the RTL will be broken and price will resume down.

 

S.,

Welcome back.

Hope you did not deplete the Tequila inventory.

Doug