”..Yesterday's bar looks like no supply - down bar with volume less than previous two bars, today's bar would seem to confirm that...”
Sutekh, very good, someone has been busy educating themselves, yesterdays bar was in fact ‘no supply’, a crude one but never the less it was starting to hint.
Also, ‘prophetic’, not sure about that, yesterdays chart was really only a map of what to look for, in a low risk setup, if this is the beginning of it, all well and good.
Ndra, amen :)
If anyone’s interested heres a chart update.
Added to the left of the chart is a cut out of what was mentioned a little while ago (prophetic, well perhaps, :)), about what they do, and it just appears as though the boys are acting true to normal habits.
Yesterdays’ bar is a confirmed ‘no supply’, and that’s exactly what was requested at this very price level exactly 2 weeks ago, being directly opposite the area of their potential buying. They will do it most of the time.
Now, today’s bar dipped below the lows of yesterday and has closed highish, which happens to be the first in quite a while. It did that on less volume than the previous few, so if the price dipped lower and has found less volume,
one could say that it/they have found less supply (weak holders) down there.
Also with the action of yesterday’s 'no supply' and today’s ‘test’ like bar, if we join the two days together, we can imagine it being a lowish volume 'shakeout'...
Lastly, I’ve removed a bit of volume off that super duper day, looks better now,
No ramping no downramping no rocket fumes that cloud ones vision, no emotions, simply take the time to try and understand how the market works
LYC Price at posting:
61.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)