Hey Trader,
The Strength of Friendship and Support in Your Trading Journey
As you navigate the challenges and opportunities in the trading world, I wanted to share a verse that highlights the importance of friendship and support:
"A friend loves at all times, and a brother is born for a time of adversity."
Proverbs 17:17
In the often unpredictable and demanding environment of trading, having a strong support network is invaluable.
This verse reminds us of the enduring nature of true friendship and the crucial role that supportive relationships play, especially during challenging times.
Let this verse inspire you to appreciate and lean on the friendships and connections you have. Surround yourself with people who genuinely care for your well-being and are there to support you through the ups and downs of your trading journey.
Similarly, be that steadfast friend and source of support for others, creating a positive and encouraging community.
Wishing you strength, support, and success in all your trading endeavors!
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
High Selling Volume Into Support Triggers 170 Tick IntraDay Crude Oil Rally
Hey folks, Anthony Speciale here with Hawkeye Traders. I hope you're doing well.
Today, I want to dive into a real-life example of trading light sweet crude oil.
As you know, this market is my passion, and I believe using real-time trades adds a layer of credibility that's often missing elsewhere.
The Morning Setup
Recently, we had an intriguing setup on the five-minute chart. A key moment occurred at 8:05 AM when we observed high selling volume without follow-through.
This high selling volume was met with strong support at the $81.20 level, leading to an immediate rebound.
This reaction solidified my confidence in declaring $81.20 as a support level in our live trading session, predicting a potential rally from this point.
Analyzing the Market Movement
Here's a breakdown of the market movement:
Initial Signal: At $81.20, we saw high selling volume into support with no follow-through. This indicated strong buying interest and the potential for a rally.
Double Top Formation: After setting a low and a higher low, the market formed a double top.
Break and Retest: The market broke through the double top and retested the support level on high selling volume, which failed to push the price lower.
From $81.20, the market rallied roughly 170 ticks, all thanks to accurately interpreting these signals in real-time.
Understanding Volume and Price Action
The key takeaway here is the importance of understanding the relationship between volume and price action.
Many traders might see a high selling volume as a signal to avoid going long, but in this case, it indicated that sellers were being absorbed by buyers, leading to a strong upward movement.
If you find this analysis intriguing and believe you could benefit from a deeper understanding of these concepts, I invite you to join me in a training webinar.
In this session, we'll dive deeper into these strategies, helping you develop the skills to interpret volume and price action accurately.
In the webinar, we'll cover:
How to use volume-based indicators effectively.
The relationship between volume and price action.
Real-time examples to solidify your understanding.
We'll also provide you with access to the Hawkeye Volume Mastery series, enabling you to study these concepts at your own pace and implement them in your trading strategy.
Trading successfully requires more than just indicators and software; it demands a solid understanding of market dynamics.
By focusing on volume and price action, you can develop the skills to make informed trading decisions.
I urge you to remove the clutter from your charts and concentrate on what truly matters.
I look forward to helping you master these essential trading skills.
Thank you for being a part of our community. I am confident that with the right tools and knowledge, you can achieve greater success in your trading endeavors.
God bless, and I will see you in the next video!
Happy Trading,
Anthony Speciale
Speciale Analysis
About the Author:
Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.
Analysis, Interpretation and Expectations
Day, Swing and Position Timeframes
Daily LIVE Market and Orderflow Analysis
NOTE: Trading involves significant risk, and it's essential to approach it with a well-defined strategy and a disciplined mindset. This blog post is intended for educational purposes and should not be considered financial advice. Always conduct your own research and consult with a professional before making an financial decisions. For further risk related information, please refer to: www.specialeanalysis.com/disclaimer
Comments