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Taking note of the 3 to 5 heaviest volume bars on the 15 minute chart over the past 8 days tends to be very revealing about whether that volume is moving up or down.
Most of the bars you've indicated show selling. I'm not understanding how they would reveal that the stock is moving up?
Be sure to look closely at each of the five bars. The continue to occur at a higher price.
Abe, I'm really trying to figure out what you're seeing that I'm obviously not... appreciate your patience.
4 of the 5 bars are red, indicating selling - am I to ignore the color and just go with the volume?
And am I to ignore bars 2 and 5 and conclude that if I take bar 1, 3, 4 = net vol is increasing and price is increasing, ergo there is a trend upwards?
Abe, Do you mean that if the 15 min bars on the highest volume regardless of color are forming higher highs then its the indication of the trend?
Right. Red or blue, each set of volume has buyers and sellers. Heaviest volume occurring higher and higher tends to confirm the direction of the trend. I have posted this on SIMO, LAD, and WFM and each of these were confirmed by the market. 15 minute is about the lowest level that I can consider, the principle applies on the hourly, daily & weekly chart and is another way of looking at CAN SLIM behavior. Effective uptrends exhibit volume averaging up.
why dont u write what u did.
Abe take a look at FVE's 15 min.
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