I believe that time cycles are important to know and people here are impressive, and time of day is worth knowing etc.
but time as an increment of measure to record transactions by is a flawed piece of data to be analysed due to the varying speed of market transactions, ie each individual bar will have varying volume transacted in it. so horizontal space on the chart is not accurate.
when you use volume you create only data to be analysed as the market is trading, so the trader or the technical indicator is reading constant fixed values, an example of that is my 89 volume bar this morning near open had a fastest trading bar of 9 seconds and its slowest trading bar was 480 seconds, so time would evaluate each bar to be analysed as equal in value even tho the 480 second bar would only have 2 % of the volume as the first.
simple things like moving averages etc benefit from only analysing equal amounts of data, not data created because time has elapsed
by using volume we can gauge the impact that offer is having on price accurately because we create accurate angles of achievement on our charts, tick is good , volume is better because for price to move it has to break thru
offer
this becomes more important when you varying volume on your X axis, like intra day or when there has been a major news shock to a share and volume spike heavily for a couple of days
so i try to square volume and price, with volume actualy recording the trading on the chart. and just use pretty simple abc type set ups and a few others that have to be square in horizontal achievent
so as i said at the start my short time here i have been impressed with some of the date calls and i will certainly keep an eye on them and try and use volume to draw an accurate conclusion of what is likely to happen.
i will post some charts later, have to pick up kids
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