Its all about the P and V.........the V drives the P and when it gets very stimulated it climaxes. Who is left to buy or sell and than a high probability reversal set up is born.
its because the market internals like $ADD $TRIN etc are calculated every 6 seconds. nothing to do with the datafeed
Every so called indicator is based on what? What is an indicator supposed to be indicating anyway? Screw indicators, i want absolutes. O, ok, right, there is no such animal in a game of probability so we always come back to price alone................THATS ALL YA NEED. Anything besides price means you are still fishing. Good Luck
thanks JJ...they bring a great "intraday" picture, not "false ones" like the MACD...this has me amazed and very interested...break out the charts and the Starbucks and the laptop and get to the studying...yes to trading the ES...great!!1
Have used all of them--CCI, MACd, PPO, paintbars, MA's etc. I don't know who else said it on here but price is the ticket--I spent months and months learning how to read the tape (raw data time and sales) until I finally got to the point where I can sit and watch it and make a trade without even worrying about it anymore. May be hard for some but I did and if I can do it so can u but it takes discipline. I learned discipline by losing all the time !! Now I'm glad someone told me to learn how to read the tape and now Im suggesting it to you.