DOW - ES Charts 14/10 - 18/10

madasafish

Well-known member
dsmodi

I'll start at the very beginning, " a very good place to start" etc courtesy of Julie Andrews:)


You cannot see it but on my chart there is a red triangle (hidden on chart behind DSTOC marker. showing a volume spike. at around 14:45. This confirmed the bottom at 865 and the BUY signal (bit messy at bottom: buy/sell/buy signals.

As you can see the cumulative 9 period volume is high at this time (start of day) and the rise is on high volume.. and peaks at 886.. the HOD at around 16:20.. and then we had a sell signal and prices fell and it's US lunch and volumes just fal off..
At 17.30 we have a db and a little volume spike.. usual messing around.. buy/sell/buy/sell/buy signals.
Then volume picks up into the US afternoon.. and we have a rise on increasing volume from 876 to 883.. and a volume spike as it sold off. and a sell signal. and ditto.
Volume spikes are usually confirmation of a market turn .. and increasing volume near the end of a long up or down move suggests either longs or shorts closing..

I use volume as a confirmation signal of trend changes or continuations..
 
 
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