|
Quote: |
|
 |
|
|
---snip---
Almost an hour beforehand, we see an Ultra Wide Spread Bar with Ultra High Volume, that closes down from the previous bar and closes in the middle of its range. This bar represents a transfer of ownership. That is, the Professionals are buying from the retail traders. Why would they be buying prior to a usually volatile news release ? Seems like a risky thing to do. Could they already have an idea of what it will say?
---snip---
|
|
|
|
|
Hi PP,
In reply to this a couple of posts ago. I had a bit of trouble seeing this. Agree its ultra wide ultra high however it is only a wee bit up (could make an argument that it is fairly neutral). The price was run down and attracted buyers and run up where it attracted sellers. Without seeing "inside the bar" (lower time frame) I have trouble seeing this as the smart money buying. I wondered if there is anything esle that gave that clue?
Thanks for your excelent contributions btw, first class! Actualy this was the first thing I could not see with clarity
Cheers,
Nick.