Hey Jako, thanks for the recent feedback, I often start to write a response and never get around to posting due to time constraints or simply that I don't like to post unless I've had time to consider what I'm posting, questions and practice charts come much easier than considered responses, lol.
Just to let you know all your responses and feedback are greatly appreciated, I genuinely feel like I'm slowly developing a greater understanding of the "story" of the charts. I especially like the developing ability to see a bar forming in real time, knowing the meaning or potential of where it's finishing and what that could mean, watching a test or upthrust play out and recognising strength and weakness, gives so much more confidence. I can see how years of this could give so much more insight and help in reducing risk of trades, all the more reason to keep plugging away
Please let me know if I'm getting off track or overrunning the thread with charts etc, I realise this thread's in place to help everyone who's interested to learn, maybe we could start, or you know of, a thread we can freely post practice charts or our various thoughts or ideas of these without blocking this up, I reckon I could fill some pages, lol, or if your happy to post these here, cheers mate
No confirmation for the start of short setup on WOW, up on higher volume again yesterday, in hindsight it looks like that low spread was a combination of some excess supply at resistance and overwhelming demand, it did finish midway which indicates there was potentially plenty of buying. I had a look at the weekly, posted below, and it may well look to at least double top at the converging of resistance and downtrend line.
In hindsight, instead of assuming a short setup, I should have recognised the low spread and high volume on Thursday to indicate the possibility of a decent move in either direction, would Thursday's bar be considered a sign of current strength on the daily, or a good reason for ST bulls to be wary from here?
Cheers
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