Leading up to July 18th we had declining volume and higher lows.... So in that case low vol did not lead to any bearishness. This is now the same situation (higher lows on declining volume) and we can expect a volume spike any day now as volume is dropping to a trickle. I'm not saying you're wrong (we'll have to see), but I just think it's dangerous to assume declining volume = bearishness. Good luck brother.
jurlvarg
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Agreed. Thanks for confirming my thoughts :-)
Mikexs
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@jurxalt, I published a more in depth chart on the 4h on october 2.
if you take a look at that, youll notice i also included this fake out. let me know what you think :)
jurlvarg
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@Mikexs, Indeed you did. Excellent work. I recently started posting my charts as well, and as you can see, my latest chart draws the exact same conclusion as yours. As this is a world full of cowboys (which is one of the reasons I'm not in any discord group or what have you), it's nice to see some confirmation from somebody who knows what he's doing!
dinopiccinin
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@jurxalt, You're experiencing confirmation bias. We've all been there.
@jurxalt, You're basically searching for things that confirm your stance. If you google confirmation bias investopedia you'll get a better explanation. There's many different types of bias that affect traders. Good luck.
jurlvarg
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@dinopiccinin, I see what you mean, thanks. Indeed, I think it's normal human behaviour to try and look for confirmation. I guess you're past that stage already? :-)
dinopiccinin
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@jurxalt, I'm not sure if it's something that ever fully goes away. There's always a mix bearish and bullish indicators, and when I'm bullish tend to ignore bearish indicators, and vice versa when bearish. I think the most important thing is to simply be aware and mindful of it as much as possible.
jurlvarg
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@dinopiccinin, I agree. Sometimes indicators make your trading life more complicated. Somethings it's better to just stick or 2 or 3 and most of all stick to your strategy. Of course one should always continue to work on improving strategies ...