Large effective volume yesterday/meaning large players were buying this and there was also a pocket pivot
I have noticed that large players are not always super careful with entry..lol. Afterall, it is not always their money that they are spending.
Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution. For using the indicator you should basically understand: if the red line goes up, large players are buying on average, if it goes down, they are selling.
The idea here is that you only want to buy the stock when it actually starts to rise and when it arrives above the breakout level. It is very well possible that the stock never reaches this level. It is also possible that the stock only reaches this level next week. Both cases make sure you only enter the stock when the actual breakout happens. If it doesn't happen you have prevented a loss by never entering the stock. If you are a pull back trader or a bottom fisher, then these patterns may not be ideal for you. I love to bottom fish as well (o:
C&H patterns are only valid at long entry level.
There is also an ascending triangle and a rising wedge. CSX took a small dip down through lower trendline of RW. Rising wedges can be bearish.
Possible T2 116.75 to 125
Ascending triangles do fail, or bust like all other patterns do. The top trendline is R so it may not be easy to get through it
But if it does, it can become support (S)
To break an A triangle it must do so with confirmation and in an uptrend
Maybe just keep that in mind with this onecause the Ascending triangle is right there close to entry level.
It’s not about being right, but doing the right things when you are. Success isn’t in picking the stock but in how it is played once you own it. When to buy more and when to sell is far more important than knowing what to buy. One good trade can be a life changer.
Not a recommendation
I have noticed that large players are not always super careful with entry..lol. Afterall, it is not always their money that they are spending.
Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution. For using the indicator you should basically understand: if the red line goes up, large players are buying on average, if it goes down, they are selling.
The idea here is that you only want to buy the stock when it actually starts to rise and when it arrives above the breakout level. It is very well possible that the stock never reaches this level. It is also possible that the stock only reaches this level next week. Both cases make sure you only enter the stock when the actual breakout happens. If it doesn't happen you have prevented a loss by never entering the stock. If you are a pull back trader or a bottom fisher, then these patterns may not be ideal for you. I love to bottom fish as well (o:
C&H patterns are only valid at long entry level.
There is also an ascending triangle and a rising wedge. CSX took a small dip down through lower trendline of RW. Rising wedges can be bearish.
Possible T2 116.75 to 125
Ascending triangles do fail, or bust like all other patterns do. The top trendline is R so it may not be easy to get through it
But if it does, it can become support (S)
To break an A triangle it must do so with confirmation and in an uptrend
Maybe just keep that in mind with this onecause the Ascending triangle is right there close to entry level.
It’s not about being right, but doing the right things when you are. Success isn’t in picking the stock but in how it is played once you own it. When to buy more and when to sell is far more important than knowing what to buy. One good trade can be a life changer.
Not a recommendation