Candle and chart patterns are an important aspect of volume price analysis, but it's also important to recognize that some have a higher probability of playing out. For example, double and triple tops & bottoms have a high probability of playing out, which we have seen on the Apple weekly chart. First, we had the double top, with the stock subsequently rebounding from the deep valleys at the $168 area. However, as we can see on the weekly chart above, Apple now faces the possibility of a triple-top. This results from Apple's failure to take out the highs of the double top peaks at $199 and yesterday's daily close of a bearish engulfing candle in high volume does not bode well for the stock. Interestingly, yesterday's price action was against the background of Apple's new announcements at the WWDC24 (Worldwide Developers Conference), where the focus was on AI & the integration with ChatGPT.
Based on comments in my X-feed, the jury...
https://www.youtube.com/watch?v=boLx8_YTiQc
In this video, we consider the latest price action in the SPY using multiple timeframes using the accumulation and distribution indicator for key support and resistance levels. The advantage of this indicator is that it gives us an immediate visual picture of the relative strength or weakness of any particular level or zone. Having this information not only helps with potential entries and exits but also with stop loss, as we are using the market's own established levels.
David also details the new indicators available, which will be launched at the same time as the Stock Trading & Investing Program in the coming weeks. Users who already have the full package of Quantum indicators will be able to access the indicators free of charge.
By Anna Coulling
If you would like details and updates about the Stock Trading & Investing Program, please just sign up here: https://bit.ly/3uCSxf5...
Most traders and investors get very frustrated with consolidation phases of price action on a chart, but as VPA students, we know these zones are the spawning ground of trends. One such example can be found on the daily chart for Meta (formerly Facebook), which has risen over 60% YTD. This turnaround in fortune has been driven in part by strong retail inflows at the beginning, but the groundwork was laid in December, as we can see on the daily chart. The charts in this post are from my TradingView account, and we can see immediately the accumulation during this timescale with the accumulation and distribution indicator (blue hatched) thickening as the phase developed, confirming it would provide a strong platform of support for any move higher. Note also the yellow pivots in the consolidation, which helped to define the highs and lows.
On the weekly chart, we can see the vpa lessons and how the outermost support line of the...
