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markaylatimertrades.com
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Tue, Apr 5, 2022 02:46 PM
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Important lesson To view this email as a web page, go Hey There! Today I want to look at one of the
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Important lesson To view this email as a web page, go [here.](
Hey There! Today I want to look at one of the most important, and overlooked indicators that should be on every chart. Volume. Volume is usually a charting default, but I think that makes it invisible to some newer traders. There are a lot of ways to use volume for confirmation, but I’m going to show you another way to use it. Today let's look at OKTA:
OKTA has been traveling down a near perfect channel for months. If you bought at the bottom and sold at the top, or shorted the top buying at the bottom, OKTA would’ve helped you all the way down!
But now let’s look at this recent volume The color of the bar isn’t important for what we’re looking at. What matters is the size of the bar, representing the amount of volume. Compared to average, there were a few 3X and 4x days of volume. In its most simple terms, volume is buyers and sellers exchanging shares. So timeframes like this can represent a lot of new buyers and sellers. Some that are holding for a loss, some just looking to hold for a few days. This can create a large area of support, resistance, or “mud”... Let me show you what I mean. These 3 bars represent 25M of volume. The smaller, more common bars are about 2.5M of volume. Let’s carry that up to the candlesticks. The candle bodies are going to represent where most of that volume is. You can see in the gray area where all that volume is. The price finished below the gray area at the end of the huge volume burst, and has been trying to push back up through the “mud”. In the case of OKTA, even if it worked its way back towards daylight, look what is waiting… That green channel line! That’s a lot of resistance to break through! Unless there is some huge catalyst that springs the price above $170, I would imagine that OKTA struggles for a while longer. If OKTA was on my watchlist I would put an alert above the “mud”, or look to short or buy puts if it fails to break out. It’s important to keep an eye on high volume areas, and make sure to factor that into your trading ideas. If you like stuff like this, stay tuned for my Special Alerts!
Every couple weeks, I’ll go live to recap the week, look at trade ideas, and let you know about all the cool things, and events we have coming up! The first one is this Thursday the 7th! [If you would like to join me, you can register here for free!]( Hope to see you there! Happy Trading, Markay [Manage Your Email Preferences]( [Unsubscribe]( This email was sent by: InvestPub
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