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What's better, Price alone, or Price + Volume Profiling?
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What's better, Price alone, or Price + Volume Profiling?

  #11 (permalink)
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Anagami View Post
You ask all the best questions, Josh.

I find it interesting to watch what I call the 'take over' points in volume. Suppose that you are trade CL 5 min and that in the first 30 minutes, the largest volume on any candle was 9000 contract. You should be closely monitoring any move where volume is likely to exceed that (say it trades 7000 contracts in the first 3 minutes of a candle).

It is educational to watch not the trade size on tape, but the speed of increasing volume (volume acceleration). You will typically see this at the beginning of strong moves. Look for volume acceleration on reversal after a second test of extreme. Big traders coming in, SLs triggered, and new traders entering. Necessarily, volume will rapidly pick up.

No, there is no 'holy grail' way of using volume... but it is another piece of puzzle to be aware of. At the very least, one should stay away from low volume mid-range anticipatory types of trades, no matter how good they look.

Thanks Anagami-- regarding your point about volume acceleration and the scenario you mention, do you mean looking for a short after the test of a new high, immediately after it forms the second peak, for example? Then find the stops below?

How about breakouts, like a breakout of a double-top? Do you look for fast tape and good volume on the way up to the top the third time (or second time as the case may be)?

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  #12 (permalink)
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I do pay attention to Volume-At-Price. It is not the Be All To End All but very helpful to identify potential Sup Res zones. I then use these zones to scale out of positions. There is a guy that tweets about this stuff and I found him very helpful to understand what the market is doing. Would post his website but do not know if the "Big Lap Puppy" will bounce me out of here.

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  #13 (permalink)
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josh View Post
Thanks Anagami-- regarding your point about volume acceleration and the scenario you mention, do you mean looking for a short after the test of a new high, immediately after it forms the second peak, for example? Then find the stops below?

How about breakouts, like a breakout of a double-top? Do you look for fast tape and good volume on the way up to the top the third time (or second time as the case may be)?

First two questions: yes.

Not a breakout trader per se. I prefer fakeouts and breakout pullbacks (failed fakeouts). In other words, I assume that a breakout will fail (which is true in most cases)... and if that failure fails, then I enter with the breakout. But I never look for a simple entry on say, a one tick range breakout.

As for volume, it is less important for fakeouts and more important for breakout pullbacks.

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  #14 (permalink)
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Consider a 3000 constant volume chart for both the April and May contracts. Note that the vertical lines approximately mark the beginning of the same time period.

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What's better, Price alone, or Price + Volume Profiling?-volume.png  
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  #15 (permalink)
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vegasfoster, I see your chart, but not sure what you're trying to say?

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