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Mr Short

983 Posts.

16/02/17

22:23

Post #: 22684112
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Originally posted by Wayward1 ↑

hi volume within an established trend, across consolidated highs, is typically bullish, however LYC is not in an established trend. It needs two very clear rejection of lows before I'd even consider a trend strong enough to trust.
Don't over analyse on a micro basis, if you believe LYC has higher targets and you have a short term approach, then don't try to preempt any signal. To sell against some perceived pressure means you must be prepared to acknowledge a buyback at a higher level may be required, if you can't do that then looking at the longer term view and ignoring the short term noise, is the better approach. That's the skill of trading against fibonacci levels, selling against a target, and buying back above the target, it's simply a management technique based on probabilities. Right now on LYC it's important that the volume on the lows is higher than the volume across any high. But as with any form of TA, all you can hope to do is deal with probabilities. In 30 years I can honestly say I have never found anything that is 100%.
I know much of my post doesn't directly address yours, but thought I'd throw it in anyway.
Cheers

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I'm sorry, the statement "volume on the lows is higher than the volume across any high.' If possible, could you please elaborate, or perhaps direct me to some reading material, so that I can better understand. Ta.

LYC Price at posting: 12.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last $10.19		Change 0.190(1.90%)		Mkt cap ! $9.354B

Open	High	Low	Value	Volume
$10.25	$10.32	$10.13	$6.115M	596.5K

Buyers (Bids)

No.	Vol.	Price($)
7	3325	$10.18

Sellers (Offers)

Price($)	Vol.	No.
$10.20	2010	8

View Market Depth

No.	Vol.	Price($)
2	1000	12.000
1	45	11.120
4	42982	11.000
1	10000	10.800
3	22250	10.770

Price($)	Vol.	No.
9.400	330	2
9.500	6289	3
9.510	14800	1
9.700	42	1
9.740	654	2

Last trade - 10.08am 15/07/2025 (20 minute delay)

LYC (ASX) Chart

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