Whats the volume of breakout candle? What in your opinion is a good volume? Pls elaborate.
You already mentioned it in your comment!
Breakout candle volume = 4.2M whereas the average 200 day volume is approx 4M and 20 day avg volume is 4.1M;
Which means breakout candle volume is above average! In volume the absolute numbers do not mean anything. We always see where volume stand with respect to the avg volume (20 or 200 day depending on your analysis). Is it above or below?
Just curious to know what makes 5-6 Million more important than 4.2M? How did you arrive at those figures (5-6M)?
I learned a lot from your post. Especially your post about H&S in "TITAN". Kindly suggest some book about price action. Thanks a lot
Fair enough. Well and good if that strategy works best for you.
However I keep my inference from volume data limited to where it stands with respect to 20 SMA. That's given me good results in the past.
Glad to know Titan analysis was useful. Thanks.
Books by Schabacker and Edward & Maher are classic. Do follow Peter Brandt on Twitter. He is a fantastic trader and educator. Ultimately keeping analysis very simple (something even a high school kid also understands) and following risk management rules strictly is the key to long term success.