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in SAVE, of Friday's two highest volume bars, the second occured higher in price than the first and in greater volume.
In RAX Friday's highest volume 30 minute bar occured lower in price compared to the mid day heavy volume.
There is too much noise for me to utilize intra-day charts. I've let go of too many leaders in the past b/c I was trying to infer a directionally larger move off of tiny time frames.
The spikes could be 1 big buyer or seller trimming a position, multiple players trading to VWAP (not shown on your chart), ETF's (and portfolios that emulate ETF's) coming in and out as they manage their positions, or a host of other reasons. the picture is too small for me to draw a conclusion.
I'm glad it works for you though and as long it does I hope you see expanded margins :-)
Actually Lon, it was your JDSU trade on 3/7/2011 that renewed my interest in the hourly charts. I limit the analysis to the 3-5 heaviest volume bars in the past few days and look for averageing up. That keeps the noise manageable.
Ha! that's great Abe. That was an "interesting" trade and admittedly I got out fast by watching what I now ignore.
I've just been tussled about too much trying to master the intraday. I have completely moved away from them and now view daily's as a small time frame. As stated, I left a lot of money on the table trying to read tea leaves via the smaller time frames. Then again, I suppose thats the life cycle of a trader - focus, improve, adjust and move on and sometimes go back to the drawing board.
I'm very glad it works for you - I'm just conveying my own, very expensive & sometimes very painful (to the ego) lessons. I do find your 'largest bars' concept interesting...
So skip the hourly and make sure your weekly 3-5 heaviest bars in the past few months are averaging up. See BWLD week of 10/21 -12/2 - 12/23. Those highest volume weeks come in at a higher price each time.
That way when your staring at the decision point as BWLD comes up through the 50 day in the week of 1/27 you've got weekly averaging up in the previous few months and you can enter a great winner with more confidence.
Interesting. I'll start to look for the patterns. Thanks
Abe and Lon,
Great discussion. I have been debating the best way to use intra-days b/c, like Lon, it has cost me in the past due to my overreaction to large intraday moves or my losing my own sense of the stovk's true trend. Abe, I will try and apply your shared wisdom. Thnx. Brad
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