Watching the 910 area this morning...
VAL 910.25
910.50 is the 61.8% retrace level of Friday's up trend.
Below 910 we have the 904 level:
Weekly Pivot Point at 904
Daily S1 at 903.75
904.25 is the 78.6% retrace of Friday's up trend.
POC at 913.75... will probably be ignoring this level today.
Pivot Point 918.25... will be ignoring this level also.
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
quote:
Originally posted by ak1
prestwickdrive could you please explain it, its confusing for me
There is a study called BAV in which one can utilize time and sales information as another way to try to figure out what is happening within the volume numbers. Considering trades on the bid being distribution and trades on the ask being accumulation, I have my BAV set with trades of 50 or more contracts considered big money. The BAV on the following chart has 2 lines. The white line is the cummulative "big money" total since the pit open while the brown line is cummulative "small money" action. That's what I was referring to.
Click image for original size
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
since the GM sales numbers came out bigs have bought a net 3k so far
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
bigs negative 10900 now - they sure sold the IB extension hard
MY
myptofvu
Rep: 2,018
Posts: 666
quote:
Originally posted by Margie
myptof, I thought you were joking the other day, hilarious!
lol, no its real...its just a divergence trade, need to have been in a trend and a higher high or double top (or close) The divergence is the big thing. I ended up drawing eyes and naming it for my own amusement. I've been calling it the Batman for years now.