Just writing this for my own/others education in real trades- comments welcome for ongoing education
as also doing this for memory exercise and info may not be correct; Chart looks CLASSIC- but still in downtrend on Moving Averages - so is it going to turn into an uptrend? Same conflict with FA also- analysts talking price target up -yet profit projections say a long way to go.
I bought the book "Trades about to happen" by Weis, several months ago- up page 41 to absorb the findings in today's market.
What interests me personally is the share NWZ - don't hold any stock - have bought and sold a lot of times for 2 different price holdings, in the last few months- and lost both times - much more than I considered loosing, when buying.
Been reading about Wychoff method for about a a year and still processing.........
So as my brain processing is figuring out improvements in the background, this weekend I seem to have some more insight.
The interesting thing about WEIS was his drawing of support and resistance lines lines- getting this from his perspective I have drawn the SR line at .039c. I sold out recently ASAP because it had fallen below my SR line of .042c. So reviewing my trade shows VSA type stuff which if understood properly could have been of benefit.
I sold the last small lot of the 2nd package into .037 low- which is where I should have bought more- in hindsight looking at the chart, instead of how I felt about seeing red in my holdings.
With the SP line at .039 holding there is an upthrust and no demand above this SR, which lead to a short downtrend.
Crosses the creek on vol and back tests the SR creek-line.
Also added the VT - Value Traded indicator as It seems obvious that as the price increases u cant expect the volume to keep on increasing.
That is the one thing that bothers me about everyone's VSA analysis, I read on HC- they keep on saying the volume should be higher as price increases- seems to me that "Value traded" would the better indicator..or a proper Weis wave analysis- which is another variable depending on settings.
