thanks for the input. what ema/sma are you using on the 1 min chart?
drilling down to the one-minute chart like you suggested was very helpful. i could clearly see the bottoming action.
i also noticed, looking at multi day, that it was a fairly large gap up. i don't know if you use fibs, but i lined them up from the previous day low, to the swing high at the opening, and the stock re-traced to the 50% retracement area and turned around. again, something i didn't see without your suggestion.
and speaking of volume, do you ever notice differences between what IB shows as volume and what quote tracker will show as volume? sometimes i look at scott's charts and my charts, and the volume numbers are way off. because volume is such an important thing, i have always wondering about this.
Using the 6 EMA, 12 EMA for the one minute because it was the one that seemed to approximate the behavior of the 7/17 used on a five-min chart. Just to be clear... I don't watch a one-minute during market time, I only look at it for research or analysis later. I have been looking at fibs since last fall, though I am not using them during the trading day all that much. i find that I can sense where they are by eye and by trader behavior in the general area without drawing the lines in. Traders use them so they seem to be indicative. As to volume, I have seen a difference between the bankrobber's charts and mine. I haven't compared QT to IB. I use volume only as a relative tool and not as a precision tool. I mostly look for large volume areas and areas where it changes in relation to prior areas. With that in mind, the difference between the different feeds doesn't create a problem for me.
thanks for the input. what ema/sma are you using on the 1 min chart?
ReplyDeletedrilling down to the one-minute chart like you suggested was very helpful. i could clearly see the bottoming action.
i also noticed, looking at multi day, that it was a fairly large gap up. i don't know if you use fibs, but i lined them up from the previous day low, to the swing high at the opening, and the stock re-traced to the 50% retracement area and turned around. again, something i didn't see without your suggestion.
and speaking of volume, do you ever notice differences between what IB shows as volume and what quote tracker will show as volume? sometimes i look at scott's charts and my charts, and the volume numbers are way off. because volume is such an important thing, i have always wondering about this.
Using the 6 EMA, 12 EMA for the one minute because it was the one that seemed to approximate the behavior of the 7/17 used on a five-min chart. Just to be clear... I don't watch a one-minute during market time, I only look at it for research or analysis later.
ReplyDeleteI have been looking at fibs since last fall, though I am not using them during the trading day all that much. i find that I can sense where they are by eye and by trader behavior in the general area without drawing the lines in. Traders use them so they seem to be indicative. As to volume, I have seen a difference between the bankrobber's charts and mine. I haven't compared QT to IB. I use volume only as a relative tool and not as a precision tool. I mostly look for large volume areas and areas where it changes in relation to prior areas. With that in mind, the difference between the different feeds doesn't create a problem for me.