@farmlife and @espiaz here’s an example of what I said earlier. My indicators have identified the Volume on 21/09 as being relatively Very High, i.e. it is more than three times the standard deviation of Volume greater than the average volume. The indicator has drawn a horizontal line at the Close of that period projected forward. This is my new Anchor Zone Close. The question is whether the volume on that bar was buying or selling. As the price action has remained below the Anchor Zone levels my assumption is that the price action on 21/09 was smart money selling into strength. The Anchor Zone High is now a level of significant resistance.
Hot Copper Charting and Chat, page-164
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4,672.7 |
Change
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Open | High | Low |
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