Thanks Tadewi,
'cos I don't have volume indicators available via MM, I can't comment re indices.
However, studying equities, volume spikes before turns are a brilliant indicator/signal that gives strength to the turn... big money getting in or out, I guess...
This was the point I was trying to make during the discussion, tho was a bit hot under the collar at the time.
Being a trader, and a small one, I am more interested in price, cos that is what I make (or lose,lol) my money on... a difference in price between when I open a position and close a position.
The reality is lets say I am going long... and price shoots up over ever decreasing volume... sure the volume decreases, but price is what I trade.
However more power to Gann45 and others on the volume side... decreasing volume can certainly be a precursive indicator to future trend change.
Would be interesting to see the volume figures for indices in July 2007... I'd be willing to punt they spiked hard.
The indices then rallied and formed new highs for a period of three months. In terms of price, an index trader could have made substantial gains to the upside by trading the final price "blowoff". Those gains would have been missed if the trader decided not to trade as "price was rallying on decreasing volume".
;)
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