10-Year US Gov't Note Futures
Volume at Price is available for Pro users here at TradingView, but you can see how valuable it is at finding important levels of resistance and support.
Notice how the rally in ZNM2015 peaked in the zone where trading volume was at a minimum. Why was volume so low? We can deduce that there are sellers there because the market didn't stay there very long and trade, which means that is a "WALL OF SELLERS".
Now the price has fallen down to a level where there is a tremendous amount of volume that has traded. This level is a "market memory level" where there are in increasing number of buyers at this price. High volume levels are levels to "buy against" and then exit on the bounce. If we go UNDER HIGH VOLUME, then the trend is down. That's why it is a 'key level' to know about. You can flip your opinion about a market if it goes just underneath of it and be bearish, but if it stays above that level you can be a buyer and bullish. That's the definition of "key level".
Tim 11:31AM EST 6/2/2015 127'02'5 last
Notice how the rally in ZNM2015 peaked in the zone where trading volume was at a minimum. Why was volume so low? We can deduce that there are sellers there because the market didn't stay there very long and trade, which means that is a "WALL OF SELLERS".
Now the price has fallen down to a level where there is a tremendous amount of volume that has traded. This level is a "market memory level" where there are in increasing number of buyers at this price. High volume levels are levels to "buy against" and then exit on the bounce. If we go UNDER HIGH VOLUME, then the trend is down. That's why it is a 'key level' to know about. You can flip your opinion about a market if it goes just underneath of it and be bearish, but if it stays above that level you can be a buyer and bullish. That's the definition of "key level".
Tim 11:31AM EST 6/2/2015 127'02'5 last
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