This chart is in response to a discussion I recently had with another trader. Three things are plotted here: SPY price, SPY volume with 30-day Bollinger Bands to spot days where volume breaks three standard deviations, and the VIX.
Green vertical lines represent the points where SPY volume hit three standard deviations from its 30-day average. These lines are...
I expect chart patterns in the current market to be statistically less reliable than in a calm market. For that reason, any trading decisions made solely based on support-resistance, harmonics, Elliot waves, and other technical strategies are relatively useless for traders who operate on holding periods between 1 day and 1 week. The mood changes with each day's...
