The daily conveys a strong down trend so it makes sense to look for re-distribution areas to go with the greater trend. B
The lowest volume of the day for STOCKS is mid session. You can see it in how the volume moves. There is a crest (high) and a trough (low). This is a consistent pattern that day traders and exploit.
In Wykoff its considered Phase B but I cant find anyone who explains it this way. Maybe its a secret or something. But I dont think its a secret... its right there on the chart and it would be crazy to charge a person to just point this out.
Knowing this low volume point is a crucial part of TA.
The lowest volume of the day for STOCKS is mid session. You can see it in how the volume moves. There is a crest (high) and a trough (low). This is a consistent pattern that day traders and exploit.
In Wykoff its considered Phase B but I cant find anyone who explains it this way. Maybe its a secret or something. But I dont think its a secret... its right there on the chart and it would be crazy to charge a person to just point this out.
Knowing this low volume point is a crucial part of TA.