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  1. #9001
    Can be found on the bid Trembling Hand's Avatar
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by Andruha View Post
    If it was a true uptrend should the volume confirm the move?
    Why?

    And are you sure that indicator actually uses volume? Can you show the formula?
    I am tomorrow, or some future day, what I establish today. I am today what I established yesterday or some previous day. – James Joyce

  2. #9002
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by Trembling Hand View Post
    Why?
    I would personally like to see increasing or at least average volume while the price are in the uptrend as a sign of conformation. Seeing falling volume while the price are rising in the uptrend makes me cautious that is all.

    Quote Originally Posted by Trembling Hand View Post
    And are you sure that indicator actually uses volume? Can you show the formula?
    Formula is the same as for MACD only instead of using EMAs I'm using volume weighted averages.
    Concern should drive us into action and not into a depression. No man is free who cannot control himself.

  3. #9003
    Can be found on the bid Trembling Hand's Avatar
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by Andruha View Post
    I'm using volume weighted averages.
    What are they? Volume of what?
    I am tomorrow, or some future day, what I establish today. I am today what I established yesterday or some previous day. – James Joyce

  4. #9004
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by Trembling Hand View Post
    What are they? Volume of what?
    VWAP = Sum (daily volume x daily price)/Sum (daily volumes)

    Sums are done over the period of the average (i.e. 12 day average will sum up daily volumes x daily prices over last 12 days). Daily price suppose to be a typical price but I'm using close only.
    Concern should drive us into action and not into a depression. No man is free who cannot control himself.

  5. #9005
    Garpal Gumnut's Avatar
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    Default Re: XAO Technical Analysis

    This has been a hard slog from the bottom and if the XAO falls on Monday, I will be a net seller.

    gg
    "I refuse to join any club that would have me as a member." Quote Groucho Marx
    Après la pluie, le beau temps

  6. #9006
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by Garpal Gumnut View Post
    This has been a hard slog from the bottom and if the XAO falls on Monday, I will be a net seller.

    gg
    Well gg, if history is anything to go by, you won't be missing anything.

    Personally i will be waiting until XAO crosses back and closes above the 70 MA .

    CanOz
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  7. #9007
    hoarding tinned food kennas's Avatar
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by kennas View Post
    Agree, but would be even more convinced if the 4400 ish line was tested and proved support again.
    Quote Originally Posted by Boggo View Post
    Agree, we need a bounce off that area.

    (click to expand)
    Nope.

    Quite a breakdown.

  8. #9008

    Default Re: XAO Technical Analysis

    Interesting week this week.

    Intraday market has actually RISEN each day then we get smashed by overnight news, gap lower and do it all again.

    Looks like someone is trying to hold us up.

    My guess is they can't keep fighting the good fight for long and we could see another leg down.

  9. #9009
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by kid hustlr View Post
    Interesting week this week.

    Intraday market has actually RISEN each day then we get smashed by overnight news, gap lower and do it all again.

    Looks like someone is trying to hold us up.

    My guess is they can't keep fighting the good fight for long and we could see another leg down.
    hmmm no, it actually happens allot. Even in a bull trend the markets sells off during the day and trends up in the sycom session. Its all driven by the futures Kidh.

    CanOz

  10. #9010
    Can be found on the bid Trembling Hand's Avatar
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by CanOz View Post
    hmmm no, it actually happens allot. Even in a bull trend the markets sells off during the day and trends up in the sycom session.
    That reminds me of something I read once.

    http://tremblinghandtrader.typepad.c...07/07/spi.html
    I am tomorrow, or some future day, what I establish today. I am today what I established yesterday or some previous day. – James Joyce

  11. #9011
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by Trembling Hand View Post
    That reminds me of something I read once.

    http://tremblinghandtrader.typepad.c...07/07/spi.html
    Nice to be able to back it up with data too! Nick did allot of work on this too and my open range system was basically playing on this phenomenon as well, nothing to do with the open range at all.

    CanOz

  12. #9012

    Default Re: XAO Technical Analysis

    Quote Originally Posted by Trembling Hand View Post
    That reminds me of something I read once.

    http://tremblinghandtrader.typepad.c...07/07/spi.html
    lolol

    Not like I'm gonna think of anything for myself.

    edit:

    In TH's blog the trend was down also

    http://tremblinghandtrader.typepad.c.../06/index.html

  13. #9013
    hoarding tinned food kennas's Avatar
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    Default Re: XAO Technical Analysis

    WOW, 4500 been tested, but between here and 5000 looks a massive effort to get back on an a general upward trend. If 4500 can be tested as support and survive, looks positive.

    XAO.gif

  14. #9014
    hoarding tinned food kennas's Avatar
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by kennas View Post
    WOW, 4500 been tested, but between here and 5000 looks a massive effort to get back on an a general upward trend. If 4500 can be tested as support and survive, looks positive.
    4500 short term failure.

    Could it bounce? Would be very positive.

    If not. Looks poor.

    For now.
    XAO.gif

  15. #9015

    Default Re: XAO Technical Analysis

    The index is rejected by resistance around 4530. It's necessary to go over this area to the resumption of the uptrend in the short term. Imho.

    xao.png

  16. #9016
    hoarding tinned food kennas's Avatar
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    Default Re: XAO Technical Analysis

    Quote Originally Posted by starman45 View Post
    The index is rejected by resistance around 4530. It's necessary to go over this area to the resumption of the uptrend in the short term. Imho.

    xao.png
    Some decent support at 4450 ish on your chart.

  17. #9017
    hoarding tinned food kennas's Avatar
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    Default Re: XAO Technical Analysis

    4450 ish still there, but diagonal uptrend looks gone...

    XAO.gif

  18. #9018

    Default Re: XAO Technical Analysis

    Are we North bound or is it too early to break out the champagne?

    xao - 2012-11-19.png
    "Speak softly, but carry a big stick". Theodore Roosevelt.

  19. #9019
    hoarding tinned food kennas's Avatar
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    Default Re: XAO Technical Analysis

    Breaking 4400 looks pretty negative to me. If it doesn't win that back in the short term, then the Big Bear just keeps on giving it out.

    XAO 22 Nov.gif

  20. #9020

    Default Re: XAO Technical Analysis

    Quote Originally Posted by kennas View Post
    Breaking 4400 looks pretty negative to me. If it doesn't win that back in the short term, then the Big Bear just keeps on giving it out.

    XAO 22 Nov.gif
    so you saying if it doesnt go up its bearish?

    that area doesnt look like an area whatsoever to me
    Taking the bull by the horns

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