On watch, page-23

I am a very basic student of looking at volume so this is my version which is open to debate/correction or any in between opinions.

Red arrows denote a previous swing low that is facing another test. The relative large volume had price holding at or there abouts on those key levels and a bit of follow through buying within the next few days. The first arrow was just a DCB understandably after the aggressive momentous large red candles.

Yellow candle denotes another largish volume day but no reference to a support. However a smallish pin bar reversal did formed. Notice price continue to drop and on the second day post pin bar, price dipped through that low by 0.05C the drop no more. Some call this the stop raid before the reversal in this case a 30+% handsome gain.

Currently lastweek's 2nd red arrow denotes the same condition of large volume day but price smashed through the support forming a very bearish close. This to me is not smart money accumulating as 11August was an attempt to play a reversal by the traders that failed with a smashed through on those ST lows!

This is why I think unfortunately the support 50C circa is where price will eventually head to.


This is a premature view of the weekly with 1 more trading day to go. Anything can happen tomorrow and I do not discount a price snap back up. If that result pans out then the weekly doesn't look so bad. In my experience from looking at price action, you don't want to let price have that follow through sell off after the candle that break key support level in this case the current one.

Again, open to discussion on chart technicals since this is a one sided view of what had happened so far. It is futile to try and predict when and at what level price will reach for in either direction except to look at the trend or momentum to make that probability determination.

The hedger for the longer term hold would have seen many signals just by observing the weekly peaks (4 total) to change their view and perhaps do some short hedging if possible to limit the damage while in drawdown. Easier said than done but worth a considerations... Good luck.


P/s I learn foresight through hindsight examples and everyday is a learning experiences in capital markets....