We look at volspd slightly different, essentially calculate the breadth (%) from up and down volume. Here also I look for divergence at top and bottom to see a particular move is supported by breadth. The reality is internals will show conflicting signals most of the days, as a trader you have to read thru that and identify a workable scenario that has the highest probability as per your analysis and trade that. Trading is all about identifying these little nuances and capitalize on that.
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The following 4 users say Thank You to rahulgopi for this post:
The reason I wrote "crack spreads, etc" is that you are always talking about VOLSPD- and here immediately you went back to it... Just for kicks, try to not look at this for a week. I really feel like you place way too much weight on this and need to move past it as it could be hurting your read on the market instead of helping. I have never once even looked at it so I am certain you can trade without it
The following 2 users say Thank You to Inletcap for this post:
If I think about it you are right sir, because of my information confirmation mind I am leaning on it too much that's the reason why I missed the move overnight (also my previous losses contributed to it).
The following user says Thank You to bmtrading9 for this post:
I've had days were I let internals keep me on the wrong side of the market all day- showing me glimmers of hope every so often only to be washed away little by little as the chart worked against me and one opportunity after another disappeared. Same with placing too much emphasis on correlations and other markets. I've learned that if price disagrees and is on its own path, don't fight it because of some alternative measure. If you just can't stand the conflicting information at the time, get flat and wait; Else, ride the trend.
The following 5 users say Thank You to Inletcap for this post:
We are in important congestion zones on both sides of the Atlantic, trading will ease when they shift, don't try to force it. Sometimes just taking a break or doing something as a diversion and then coming back in a few days is the best route.
The following 3 users say Thank You to ratfink for this post:
When the entire range was taken out in 4 minutes and 20k contracts late this morning because oil retraced from 2SD to 1SD it seemed like writing on the wall- walk away or play VWAP band pinball as choke35 calls it
The following 3 users say Thank You to Inletcap for this post: