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Jako8557

16,642 Posts.

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01/03/16

22:52

Post #: 17160494
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Originally posted by gamefisherman ↑

Hi Jako

Re the Daily, as that Weekly Bar appears to be strong imo, Friday supply entering the market as Momentum/STT traders exiting their positions, hence the close near daily lows. Alternatively the CO in his attempt to hide his tracks attempts to sell off some stock in an attempt to make the daily bar look weak to the retailer. Perhaps there was some hidden accumulation in the bar as well as it did not quite fully close on its daily low. The width of Fridays bar was not that large as well, and volume was lower than previous 2 days. To me this is also a potential sign of strength from purely looking at the daily (not the weekly) for this example as the spread was reasonably tight. A stretched high volume down bar would have warned of potentially major supply coming in. At this point, that did not happen.

Cheers
GF

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Yep, all those things are quite possible and are quite valid.....good job (just be careful not to over analyse too much).

cheers

Last edited by Jako8557: 01/03/16
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