Price Action & Volume - A trick that will help you TODAY!
Updated
People underestimate volume and what it could tell you about buyers and sellers in the market. This "strategy" or more accurately this way of understanding Volume can be utilized in any time frame and will open you up to understanding more movements and why things happen in "random" areas - when they are truly not random.
Hope this helps and as always,
Happy Trading!
Hope this helps and as always,
Happy Trading!
Note
This is responding to a question we had down below:
As you'll see in the above, buyers are clearly in control as we had strong buying volume and were attempting to close a cup from earlier today. However, since we were at the top of our strongest buying algo (that we know of atm), price needed to build liquidity and therefore, we are looking for it to return to the bottom of this strong selling algo for a continued move up. Once we reach a point that I highlighted in green circles, whether we get there by dropping massively or with a slow and steady bullflag, we will look to buy again for the next breakout - because we were clearly being controlled by the orange algorithm and not able to break out of it, we will not expect price to bounce off of the bottom of this algorithm.
Hope this was helpful and as always, happy to explain further to anyone with questions - feel free to comment a question below or send me a personal message.
Happy Trading!
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