strauss, AXE not sure where support would be on it but atm its sitting near its first confirmed high volume up move or breakout. On the chart we can see those three earlier bouts of supply, how they all formed LH/LL's, all breaking the lows of the high volume up bars. This recent action punched up higher than that earlier supply zone, so maybe it reduced some of that supply from way over left, just have to see it reverse shortly.
theinvestor, MTA has done like all those other charts of last night, as seen on the chart below, it was supported by all that rising volume but then that high volume up top had its lows broken. This is a good example of what to look for after that high bout of weakness has dissipated, a good sign of no supply. Now where to for it, back into that supply zone with a bout of volume or will it show further weakness when it gets there, who knows hey until it gets there.
success, well done with your PDN
not sure if you've read 'Master the Markets' by Tom Williams, it's available as a free download PDF on the net?, BUT anyway, my ramblings of late will not be found anywhere. They are a crude form of VSA that I've stumbled onto of late and really only work within the spec side of town after they come out of a long basing period. But the PDF is a good read if you want to learn another form of TA analysis, always good to know what else is out there.
