In the first one, I see all markets downtrending on a chart. In the second one, I see the head of Spielberg's "E.T." attached to the body of a man with a HUGE boil on the right side of his chest. So there's no "her" for me there, more like "WTH is that?"
%% True Mr Mickey. Paul t Jones does that; but plenty of strong hands, funds +mutual fund buy HI [+ high areas] in uptrending bull market.[ Bull market=higher highs + higher lows.....] IBD made/proved his fortune with that
%% TRUE; but as i told an elite trader/market maker, if end of day price closes up- i name that= buy volume;if price closes down[ reg hours] its sell volume
I'd amend this by re-phrasing; At swing high tops, some hands will buy, some will sell. The market has symmetry for both Shorts and Longs. After entry; The long position becomes stronger with increasing price and increasing volume. The long position becomes weaker with increasing price and decreasing volume. The long position becomes weakest with decreasing price and increasing volume. The strongest position for the Short is at the end of the Long move, which can be identified as a zone closer to the Left Trend line than the RTL. The short position becomes stronger with decreasing price and increasing volume. The short position becomes weaker with decreasing price and decreasing volume. The short position becomes weakest with increasing price and increasing volume. The strongest position for the Long is at the end of the Short move, which can be identified as a zone closer to the Left Trend line than the Right Trend line. A move is composed of three legs. A leg is the Dominant move of price and volume together in a unified direction. The middle leg is the non-Dominant move where price is observed to retrace some of the prior leg's price action. It's characteristic is one of decreasing volume when compared to the prior leg's volume. The third leg is a return to Dominant price and volume direction. The steeper the RTL per unit of time, the greater the money making velocity. The strongest trades are always orthogonal on a chart. The exit is what proves the entry. Up until this point the future is coalescing into the present, the field of possibilities once limitless now diminishes until price can only take the path of least resistance. In this particular example, Resistance is not Buyers vs Sellers for it's always evenly paired, it's the absence of perceived value and a diminishment in the willingness to engage in transactions - this manifests as decreasing volume. It is at this point the minority take positions for the next profit taking segment.
but you are missing part 2. As the market rallied, Soros realized he was on the wrong side of the trade, He covered and went long. An example of what was said in post 45 by Visaria.
Most of it is proprietary. But, the one thing that has stuck with me is, credit creation. Most of these pikers are at home or work wishing they could trade for a living. If you fully understand credit creation, you could've retired before 30.
%% Good points,Sprout. When possible i prefer increasing red[sell] volume on shorts/bear market, not that the market does that, all bear markets.LOL Plenty , plenty,of uptrending bull moves/ happen$ on average volume; or in some summers below average volume.PS runaway/best trends have consistantly, a lot more than 3 legs, not that all trends are runaway. Thanks
I agree. There are trends that extend the 3 leg concept with additional non-DOM and Return to Dominance PV moves. Fascinating in that by going to a slower timescale, the 3-leg pattern of Dominance to nonDominance and return to Dominance reasserts itself as a pattern that can be observed. The volume I'm referring to is relative bar-by-bar - which provides more detail than above or below average volume. When it comes to averages, Dry Up volume and First Rising Volume have more to offer illuminating possible PA.