23 replies to this topic

[flyers&divers]

Q: flyers and drivers. were you on dr stools board years back? No Dharma I was unaware of that board. In addition to TT I sometimes follow the option threads on Elite Trader. F&D

[dharma]

Q: flyers and drivers. were you on dr stools board years back?

No Dharma I was unaware of that board. In addition to TT I sometimes follow the option threads on Elite Trader.

F&D

then i have seen your work on tt, your work is always well thought out.
dharma

[SemiBizz]

GLD failed to break out over 170 on stronger weekly volume. Volume off the top last week, and this week inside on lighter volume, that's a transition candle. 162.07 weekly support is all that's holding it here.

Just tested 162.01 here on BLOWOUT VOLUME.

[dougie]

semi: that high volume test is NOT a good thing if one is a bull?

[gismeu]

semi: that high volume test is NOT a good thing if one is a bull?

Dougie,

I am neither Semi nor an expert, but I would think that if the bears can't break that support of 162
with (today's) high volume, then that is bullish!

gis

[SemiBizz]

Well, one word of caution. There's really no great way to tell right now whether this is the steal of a lifetime or just another waypoint on the way to 154. So have to be very careful. Remember, this thing sat idly for a couple of weeks on no volume... now that volume is here - it's too early to tell what the operator agenda is at this point. Better plan is to let the volume die down and then see how it tests support and resistance. Set up an entry based on lighter volume test. If you have to buy it then you set stops right underneath.

[gismeu]

Thanks Semi, gis

[dougie]

thanks anyone know what percentage of the time moves like this need a lower volume retest?

[SemiBizz]

thanks
anyone know what percentage of the time moves like this need a lower volume retest?

We subscribe to the notion that high volume highs and lows are tested, over and over if necessary to resolve any questions about supply and demand.

But, having said that, the test might not happen for weeks, months, years.

[dougie]

thanks Semi