As for wicks being noise, what happens in the situation where towards end of trading the price is dubiously sold down, and then the CSPA is manipulated down a little further? The daily candle has a closing price sometimes considerably lower than the VWAP.
TSO had a day last week where VWAP was around 0.3287 and the price had been sitting on 0.34 for some time, with around 10 minutes of trading left it was sold down to 0.32 and then further to 0.30 in the CSPA. It bounced back the next morning.
In the above example surely the wick is more than just noise? In this circumstance would you be more inclined to use the hourly chart? When would you distinguish between using an hourly or a daily? It all seems rather murky to me. You seem clued up with charts, so I'm interested to hear your take on it. Cheers.
As for wicks being noise, what happens in the situation where...
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Last
0.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.719M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.8¢ | 0.8¢ | $1.377K | 172.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1794037 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 857334 | 4 |
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