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Volume-Price-Patterns-Context & Catalysts - Example Charts & Analysis

Discussion in 'Trading Strategies/Systems' started by tech/a, Jun 21, 2018.

  1. tech/a

    tech/a No Ordinary Duck

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    As suggested I will post up charts with analysis to follow.

    I search for Volume Control Bars and save them to file. I have 2 searches
    (1) For Today
    (5) 5 Days ago so we can look for any patterns.
    Most VCB bars have price form an inside bar the next day,this is common
    Strong bars will continue in a day or 2 if there is a catalyst. GFC is an obvious one.
    But massive volume will cause a reaction.
    So I have a watchlist which constantly changes but each night it takes a couple of minutes to flick through and pull out trade prospects if they appear. Trades I find from eyeballing.

    Rather than use my list I thought Id throw it over to those interested to chose charts to follow.
    Just post up the code and Ill have a look. If it looks promising long or short Ill include it in the list. Only 10 will go in
    Ive put up No 1 MYX as its doing exactly as Explod suggested.

    Im expecting the gap here to be tested
    A quick test and rejection is very weak.
    A fill and no rejection is typical consolidation.
    A new high is the less likely scenario.

    I will up date when time allows but if there is anything of great interest like a trade forming I' ll get on to it.

    Unfortunately I will be away from Aug 2- Sept 22 Living Large!

    MYX.gif
     
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  2. greggles

    greggles I'll be back!

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    Thanks tech/a. Am following with interest. If I have any questions I'll be sure to ask.
     
  3. tech/a

    tech/a No Ordinary Duck

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    As There have been no other suggestions and this chart is pretty well marked up.
    SHV

    9.gif
     
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  4. greggles

    greggles I'll be back!

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    Tech/a, when you get a chance could you please run your eye over Troy Resources (TRY)? I'd be very interested in seeing your interpretation of that chart. Thanks!
     
  5. tech/a

    tech/a No Ordinary Duck

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    Just had a quick look
    Just falling back (trading into) a resistance Zone made by the two bars on 21/5-22/5
    Its actually in a long term Consolidation. (Daily Bars)
    The strongest Control Bar which is yet to be broken to the upside is back at about 15/1
    (Weekly Bars).

    The chart on my phone is pretty small
    Nothing of great interest.
     
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  6. greggles

    greggles I'll be back!

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    Thanks tech. Yes, it made two further attempts at breaking through 17c on 25/5 and 28/5 but failed both times. It looks at have support at 13c but can't seem to find any momentum. There will need to be a catalyst such as news or a bullish run in the gold price to get it through that resistance at 17c.
     
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  7. tech/a

    tech/a No Ordinary Duck

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    You've pretty well nailed it.
     
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  8. lindsayf

    lindsayf

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    With that high volume absorption bar zone being tested and now with price above it - I would be thinking that further moves higher would be the most likely scenario.
     
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  9. tech/a

    tech/a No Ordinary Duck

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    That's the way I also see it.
    Looking for up bars on low volume.(really low)
     
  10. greggles

    greggles I'll be back!

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    Tech, do you think this is a volume absorption bar on BID today? I'm liking the way this is looking.

    big.chart-BID.gif
     
  11. tech/a

    tech/a No Ordinary Duck

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    Yes
    Any catalyst?
     
  12. greggles

    greggles I'll be back!

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    The company received a price and volume query from the ASX on the 19th and responded that they have had an increase in clients as a result of their "revitalised sales approach". I posted a screenshot of their response here.

    The volume today seems entirely out of character and a few days after the response from the 19th I mentioned, so it's got me a little puzzled.
     
  13. andymac

    andymac

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    hi tech/a and thankyou for your thread(s) have only just come across them and find the topic very interesting. assume your scans will throw up HSN from friday. catalyst appears to be revised(downward) guidance , would be interested in your process going forward from here. cheers.
     
  14. tech/a

    tech/a No Ordinary Duck

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    Sorry Andy Didn't have a chance to look at this over the weekend (Or anything
    for that matter). Ill have a look tonight.
     
  15. tech/a

    tech/a No Ordinary Duck

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    A few Chart updates
    BID ended up being a top Exhaustion Volume.
    HSN has a clear catalyst and Chart included.

    Ill be in Melbourne Friday through Monday so wont be
    able to post up any
     

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  16. kid hustlr

    kid hustlr

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    How do you see ax1 now tech
     
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  17. tech/a

    tech/a No Ordinary Duck

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    I posted the above last night--well thought I did
    Didnt click Post!

    Tonights cha

    Kid
    The same
    I expect that the zone will act
    as support. If not then it will be a blow off top
    O text does see it as a possibility
     

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  18. Lone Wolf

    Lone Wolf

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    Tech, AX1 - I think you highlighted the wrong bar?
    The Control Bar is the one after the one you highlighted. Or am I misunderstanding something?
     
  19. tech/a

    tech/a No Ordinary Duck

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    I’ve marked it wider for clarity
    The box would cover the bar
     
  20. tech/a

    tech/a No Ordinary Duck

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    I just had a chance to have a good look.

    You are correct L/W
    I've altered the chart to reflect the correct marking.
    It still doesn't alter the analysis.
    But lows were tested and supply absorbed back to the
    volume control area.

    This is looking like distribution.
    The majority of Closes within 7c range
    $1.55 to $1.62c

    16.gif


    17.gif
     
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