Thanks @Incongruous, maybe I should have paid more attention to...

First 1285 Last

Share
Profile

Follow
Resurgam

1,392 Posts.

7

14/12/16

00:48

Post #: 21316682
Share

Originally posted by Incongruous ↑

I hazard a guess that Wyckoff would say the three laws need to be applied — supply and demand, effort vs result and cause and effect. We would like enough cause on the time frame we trade to produce the desired effect. However, if you trade a smaller time frame like a five minute or hourly, you shouldn't expect the effect of a larger time frame, say daily or weekly. It certainly coiled nicely there on the hourly if that's where you like to work. On the daily, weekly and monthly it is still in a down trend. The area with the wide bar and high volume where supply came in at 0.10 may need to be tested.

Expand

Thanks @Incongruous, maybe I should have paid more attention to the longer time frames as I'm not always watching the market for interdaily moves.

Originally posted by Beany72 ↑

RXP is a stock I've been watching every day for probably the last month. My interpretation of the chart is that supply is being drawn out and accumulated in an attempt to move the stock higher. My reasoning is that the upthrust to all time highs looked orchestrated in the manner it was achieved (viewed course of sales which was an unexpected surge of buys) to attract breakout traders whom were then shaken out of their position and accumulated at a lower price as evidenced by the shakeout at bar 2. The past couple of days trading has failed to draw out much supply especially today. I'm therefore left to believe that the easiest path is upwards as whoever is accumulating will have to go higher to reach supply.

1. Upthrust reaching all time highs
2. Shakeout with significant sign of support
3. Test bar
Order in: If price = $1.005, buy at $1.005, if price = $0.975, sell at $0.975.
View attachment 376769

Expand

I don't know (anything) @Beany72 but that no. 1 bar you have doesn't look great, isn't it putting a background of weakness in the chart? I guess it wasn't massive volume but it looks like there was some selling in the big volume bar two days before it?

Last edited by Resurgam: 14/12/16
1 Upvote

Reply

Top Stories

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

There are more pages in this discussion • 1,174 more messages in this thread...

First 1285 Last

Thanks @Incongruous, maybe I should have paid more attention to...

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Featured News

Thanks @Incongruous, maybe I should have paid more attention to...

Top Stories

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Featured News