daytrade diaries... may 22 part 2, page-67

  1. 3,108 Posts.
    lightbulb Created with Sketch. 7
    Sunburntland,

    I don't think that chart alone can tell you much about share price direction. I more so wanted to understand what volumes were going through at what prices, and if it was possible to determine any trend based on whether the volumes were buying or selling driven.

    Taking a very simplistic approach to the SLR details above, it appears that buying was greater than selling today, as more volume raised the price than lowered the price.

    I think I'll need to repeat this excercise over seveal days to see how useful it is at detecting patterns, particularly for support/resistance lines.

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.