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jj,
I've managed, I think, to reproduce your chart from permalink #973. It's a five minute chart, right?
Many pages ago on this thread, I recommended an enhancement to VSA in which volume would be broken down into volume up vs volume down. The "experts" on the thread didn't like my idea, but here's an example where it is valuable (in fact, invaluable). See attached chart. On your putative upthrust, the total volume is too high, but just as importantly, the upvolume nearly matches the downvolume (upvolume is seen as a green line inside the wider red line which is downvolume). This clearly shows that there was significant buying on this bar, hence it was not an upthrust. The total volume itself would have been a clue, but the picture is clearer if you separate the up from the down. |
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Thank you for your input. I also was considering that volume may have been too high and that at that level the bar should have pushed down more if it where more selling. So the spread was wrong, in hindsight.
Everytime I make a trade that ends up going the other way I try to see why and hopefully not have it happen again.
Yes it was a 5min chart of the ES. I will post more info on the next chart I post.