Thanks for the replies guys- much appreciated
@Cabbie I like how you described "some kind of battle occurred here...which left behind a strong resistance/support area" I'm gonna steal that turn of phrase for future chart commentary. There was actually another little battle area on the 9/10/11th of March where the Volume Profile (or Volume at Price) showed a thin HVN which also came in to play as the initial top of the trading range.
@Jako8557 yes "bullish absorption" is the wrong terminology for what I could see was happening, and I'd rather use language that most people use to avoid confusion. Someone clever must have come up with a snappy name for this effort vs reward anomaly?
So a question for you Jako- when you say that commitment to positions is only modest right now, what type of measurement or rule of thumb guide can we use to form an opinion on this? Is there a way to use P&F or something else and apply it to different stocks to give some sort of idea? Or is it something you get a feel for after doing a few more laps around the block?
Thanks, Rooster
