Key statement in my post - I’m « bullearish ». I find it fascinating to watch what whales do if I can find them. But I never (repeat - I never) follow other traders unless I have full visibility / understanding of what they are doing. Frankly, the underlying goal of the Green Goose Trader newsletter and alerts is to provide this transparency and enough info for its premium subscribers to do their own due diligence.
The way I see volume is someone bought means someone sold it too. So it is hard to see which side they are betting on which is why I don’t use volume indicator in my trading strategy but look at the momentum and which price most of contracts traded at. Someone also told me how direction can change based on large volume followed by small volumes. At this point, I am expecting another 10% - 15% downside since bad news on inventory issues are out there but media is not pounding on it. I think we are in the phase where people are rushing in to buy large cost items (house cars etc) before interest rate goes higher. Next phase is where people probably won’t be able to spend money on large cost items. I also hear a lot of lay off happening now too but it is not on the news yet. My gut feeling says the perfect storm of brewing.
My great teacher always remind me the truth will tell after it happens. So let’s see if this is the bottom or more downside.
Key statement in my post - I’m « bullearish ». I find it fascinating to watch what whales do if I can find them. But I never (repeat - I never) follow other traders unless I have full visibility / understanding of what they are doing. Frankly, the underlying goal of the Green Goose Trader newsletter and alerts is to provide this transparency and enough info for its premium subscribers to do their own due diligence.
The way I see volume is someone bought means someone sold it too. So it is hard to see which side they are betting on which is why I don’t use volume indicator in my trading strategy but look at the momentum and which price most of contracts traded at. Someone also told me how direction can change based on large volume followed by small volumes. At this point, I am expecting another 10% - 15% downside since bad news on inventory issues are out there but media is not pounding on it. I think we are in the phase where people are rushing in to buy large cost items (house cars etc) before interest rate goes higher. Next phase is where people probably won’t be able to spend money on large cost items. I also hear a lot of lay off happening now too but it is not on the news yet. My gut feeling says the perfect storm of brewing.
My great teacher always remind me the truth will tell after it happens. So let’s see if this is the bottom or more downside.