|
Quote: |
|
 |
|
|
Thanks, Tannis. My study of springboards over the past few months (or, more accurately, renewed study) has been of great benefit. Unfortunately (or fortunately, depending on how one trades), I've found the best springboards on 1m and sub-1m charts (where all the "noise" is  ). Today, for example, the springboard for the NQ took place between 1336 and 1339 at 1901.25. Not visible on a 5m chart, but there it is.
And of course if one doesn't "believe" in support and resistance, that complicates matters further..... |
|
|
|
|
I think I see it. Thank you, Db. I'll have it beside me when I look at Chapter 7 this weekend.
If you wouldn't mind, related to noise and finding equilibrium.... I believe I have set this PAV tool to show 1 standard deviation of volume on each side of the mid line of volume. By inspection, does it look like I have accomplished that? If so, this is the kind of gadget that helps train my eyes.
The mid line of volume extends on MCD. The other pink outlines show I standard deviation on each side of the midline. It looks like the volume pattern is skewed- not a normal distribution pattern.
The other setup...on ABT, the pattern is more of a normal distribution. 68% of the volume falls between the top and bottom lines which are extended on this chart. The middle line is the midline. Volume did not follow the down prices outside the channel.
Thanks again.