SPY LONG from Friday 5 min using Volume Package analysis

111 0 1
This idea is an addendum to one published 14.25 Friday and shows the after-market action which hit the two main POC levels (white dotted lines which are drawn off the VPSV histograms on the far left of the chart).

This is a strange chart in that the Heikin Ashis in the lower window are the main ones, and the candles in the upper window are extras. It's something to do with how trading view handles having both Heikins and normal bars. I like to use the 5 min candles to see the actual price action and the Heiken Ashi as indicators and signal generators, so I put them down below.

In any case, for some reason the after market action is in the Heiken Ashi window. That said, the high prices are correct in that the price spiked up there. I hav drawn white dotted lines in the lower panel the same as the ones in the upper panel so you can see how both prior POC's were hit.

I suspect this was not tradeable, albeit a few thousand shares traded at this price. But these spikes show that the prices are important levels.

And I still maintain that even if the market keeps dropping like a stone today - which right now 30 mins before the open doesn't seem likely, that it will probably go back up to the 180 if not 182 level before continuing down to make lower lows in which case 177 is the first key level (cannot see on this timeframe) and I believe I posted more on the longer term support levels in 30 minute and daily charts .

So we shall see if the highly unlikely 'prediction' I made during Friday's sharp selloff following Thursday down day for a bounce to the POC's will prove accurate today/tomorrow. If it does, I hope it demonstrates to those few watching these posts just how helpful those volume indicators can be. They show stuff you cannot find easily on typical price bar charts and I think should come with every charting package and be used by any trading system.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out