[atto]

Actually, the number of people buying and selling was equal.

That's how it works.

[BennyHey]

You are correct again,

What I said was wrong for every buyer there is a seller.

[firewalker]

Originally Posted by atto »

Actually, the number of people buying and selling was equal.

That's how it works.

The number of contracts bought and sold was equal, but the number of people need not be the same. But I take it that's what you meant

[atto]

Damn, get corrected correcting someone

[BlowFish]

Originally Posted by firewalker »

The number of contracts bought and sold was equal, but the number of people need not be the same. But I take it that's what you meant

And of course lets not forget buying to open, buying to close and selling to open, selling to close.

[MRW]

Reading the Waves Sticky really struck a chord with me this morning.

I use multiple timeframes to get perspective on price/volume action (call this what you will, it's just multiple timeframes). After reading about the Wyckoff concept of Waves, the following blinding glimpse of the obvious struck me:

A bar that closes lower on a longer timeframe will be a wave down on a shorter timeframe.
A bar that closes higher on a longer timeframe will be a wave up on a shorter timeframe.

For example, I'm comparing today's price/volume action in the SPY on the 5 minute and 30 minute charts. THe higher close on the 30 minute bar from 10:00-10:30 EST, is the wave up on the 5 minute chart for the same time period.

So...it would then seem that if you are selling a bar with a higher close on low relative volume on, say the 30 minute chart, you are also selling a low-volume rally on a 5 minute chart. This is but one example - there are, of course, others - buying low volume bars with a lower close being the same as buying a low volume decline, etc etc.

Now all I have to do is be aware of the market trend overall, the stock trend overall, the action over the last few days and weeks, and on and on and on...

Ok, ok, the market, for me, is slow today and I have too much time on my hands...like I said, a blinding glimpse of the obvious...

[DbPhoenix]

Those Aha! moments are worth waiting for.

[DbPhoenix]

The following may confuse you or may be helpful. You tell me

The short pink line to the right of this chart is at the level I was watching for this morning:

This next chart is the same "timeframe" but a smaller bar interval. The pink line covers the same span:

The next is again the same "timeframe", but a still smaller bar interval:

The point of interest, in other words, is the same in all three charts. The only difference is the bar interval (in this case, Constant Volume Bars rather than "time" bars).

As you say, larger waves are comprised of smaller waves. And they are all moving simultaneously in the same timeframe.