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Quick introduction and question on tick charts
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Quick introduction and question on tick charts

  #1 (permalink)
Elite Member
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Quick introduction and question on tick charts

Good afternoon,

I have been on the forum for a few days now and really appreciate all the posts I have been reading. There is a lot offered here. Spending the money to become an elite member was a great decision, feels like a steal with everything that is provided.

I focus on trading CL during the morning session, still on the sim. I use a 30min chart for market state and then a 5min chart focusing on the ACD method and price action. I have been looking into tick charts and here is my question, what can we learn from the range (high-low) of each bar? I feel like during a pullback I notice the bars start to contract in size and then expanding back in the direction of the trend. I believe it is due to 'someone' stepping in and absorbing the bid/ask (depending on which way the market is moving). I know I should not be trying to pick bottoms or tops, but am I on the right track with my thinking or am I missing something here?

Thanks a lot, I appreciate the help

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  #3 (permalink)
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I think you'll see that phenomenon in time, volume, tick bars. You will even see it is range bars, but rather than compression, you'll see overlapping bars.

Pullbacks come in lots of flavors and forms. Its common to see the bars compress before continuing with the previuos trend. You can also see spikes, flat periods, complex corrections, and plenty of trend reversals just to keep you on your toes.

Here is a link to someone who has documented various examples of how price has behaved as you have described in pullbacks.

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