Scheming on SJT right now.. looking delicious ...
also got SLTM on watch.. this $2.34 arena looks attractive
I only asked because I wasn't sure if it was a set up for 'pinch' play or if you were going for a bounce on the automatic reversal which you said wasnt the focus in an earlier post..
just trying to learn..
My bad if I sounded offensive, didn't mean it like that.
You need to understand a "pinch" play is the automatic reversal
Wallah, SLTM bounced precisely on that $2.34 arena to a high of $2.56 (which was prior resistance & where the 5 day POC was located), with an intraday pinch on volume expansion. I bought @ $2.40 and sold @ $2.50 for 10 tick profit.
After researching about volume price analysis and other techniques its clear that the market predicts its imminent future. You need a keen eye and knowledge to spot this and could become prosperous if you use this advantage with proper disciple.
The marketplace facilitates trade, it gathers buyers and sellers to form the "market" thus creating volatility. Volatility is ESSENTIAL for profitability in trading. But how does the market facilitate trade? Its called a "dual auction process", where the MM's mark up the auction until buyers are exhausted and then marks down the auction until sellers max out. So a stock moves up to shut off buying, and moves down to shut off selling. VBP bars (Volume By Price) are on my charts I show, and they are very beneficial to my trading because I can see where volume is related to a specific price range. Remember volatility is essential, but volatility doesn't happen without VOLUME. Volume shows "attraction" levels at certain price ranges. As price moves closer to high volume price ranges you'll most likely see the stock move with increasing momentum.
Damn, I'm just ranting.. taking notes.. don't mind me