[forrestang]

I think the picture should be explanatory of what I was seeing at the time.

This was on Monday, 1 June 2009, @ 9:05CST.

[forrestang]

Something else from earlier today, 2June2009:

[Tams]

Originally Posted by forrestang »

I think the picture should be explanatory of what I was seeing at the time.
This was on Monday, 1 June 2009, @ 9:05CST.

"Was this a good short here?"

matching the volume that causes the price to go up,
and volume that causes the price to go down,
will help you visualize the participants of the market.

[forrestang]

Originally Posted by Tams »

"Was this a good short here?"

matching the volume that causes the price to go up,
and volume that causes the price to go down,
will help you visualize the participants of the market.

I'm not sure what you mean?

[Tams]

Originally Posted by forrestang »

I think the picture should be explanatory of what I was seeing at the time.
This was on Monday, 1 June 2009, @ 9:05CST.

What do you mean by "technically a down bar"?

[Bear Mtn.]

Originally Posted by forrestang »

I'm not sure what you mean?

Sorry Tams, if I've got this wrong, but I think you were meaning that yes there was high volume on the up bar... but then low volume on the down bar. Therefore, although the move up faltered, there aren't many keen sellers.... hence the drift up. Thats how I'd interpret that situation (albeit with hindsight) so be interesting to see what others think...

[forrestang]

Originally Posted by Tams »

What do you mean by "technically a down bar"?

Forgive me as I'm still a bit new to this, but when i say down bar, I just simply mean a bar that closes lower than the previous close.

And I was thinking we'd want to see a 'no demand' bar after a buying climax, where you'd have a slight probe above the climax to see if there are still anymore buyers present before the distribution phase is over.

And 'No Demand' bars occur on upbars correct?

I might be thinking waaay too much into that buying climax and what a good entry is? it's possible the reason that didn't work for me yesterday was because the move up was for real, and there was no resistance over head.

Actually, the highest resistance level I have is 939.00, and typically i'd want to see a climax occur around a resistance level, and I didn't have any annotated as we've reached new levels......as far as the data I have is concerned.

[Eiger]

The most important question to ask for this trade which will answer your question about whether or not it was a "good short" is this question: What was the background? Forrestang, can you show us what the background conditions were prior to this trade?

Eiger