Good, valid observations, yet still very basic and broad TA (no offence intended Ltb!)
The vast majority(90%+) of TA I've read in forums (HC, TS etc) and online often coincides with what is available by so-called TA gurus...these gurus have no track records, let alone an attempt at a false, misleading and unaudited track record...
They make money by being an author and selling books...heck I wouldn't be surprised if most of them didn't trade at all!...so I've been extremely skeptical of TA whilst trying to master it at the same time...
Anyway, one of the things I've learnt that is that increasing or very high volume on down days do not necessarily mean it's more bearish than weak volume on the same % down day (however it is often perceived that way by TA gurus and the like)...
In reality it may be the opposite, an exhaustive move, or hidden orders stepping in big enough to absorb the selling...and from that, it may be a VERY BULLISH big red candle down day...
So that's where I go a little deeper than the textbooks to find the answer, by looking at the day's time & sales, changes in the depth, and volume at price charts which tells me which price traded most...
I know you probably don't have or don't want to spend additional time investigating TA...but that's just my 2 cents on how I approach it.
Btw love your tagline. Couldn't agree more.
GL
Good, valid observations, yet still very basic and broad TA (no...
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