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makuchaku
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Introduce Yourself Here - Don't Be Shy!!
makuchaku replied to trading4life's topic in Beginners Forum
Hi, I am new here - just made my maiden post about what I think about SPY's future. I've been learning how to trade since last 3-4 months only. It would be great to meet like minded folks! Cheers! -
I also see the divergence in price and volume trend. Price seems to be rising on falling volume. What do you think?
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Hi everyone, This is my maiden analysis using volume profile - so please don't hesitate to share your feedback. As per the attached analysis, I think that SPY is primed for a short - for many reasons - Multiple strong rejection of long positions exist at Resistance R1 and R2 : seems like sellers defending their positions - Very strong short volume seen at R2 : further signifying sellers who are ready at that level However, once the price reaches Support S1, there seems to be a strong buying sentiment which has rejected previous shorts. You can see trading ranges & pullbacks to S1 where buyers and sellers seem to agree on a price range, often leading to a buyer dominance. What do you think?