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Another volume question

QuestionsCategory: QuestionsAnother volume question
Javier Avendano asked 5 years ago

Hi Pat,
Thanks for the great service. I am having a great time learning about the processes and routines that you follow.

I have three questions about volume on breakouts:
1) Can the 10 minutes volume be use for a breakout confirmation or best to only use the 30 or 60 minutes?
2) If the market is in Correction and there is a powerful Follow Through Day, but  you don't see any breakouts with volume on the 30 mins or 60 mins, would you still buy something (maybe a smaller position) or just wait for another day?
3) Has there being strong performance periods that stocks are running but the volume is not there on breakouts?  How do you adjust to something like that? Do you use this as an indication that the market might start to roll over (there is a video from 10 months ago “Best practice –volume confirmation” where you said that volume is not coming on breakouts, this was a few weeks prior to the indexes starting to roll over).

Thank you,
Javier

1 Answers
Avatar photoOwen Staff answered 5 years ago

Hi Javier,
Video from Patrick:
https://youtu.be/DX9bSBMRa6k