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Checklist and Relative Volume at the open

QuestionsCategory: QuestionsChecklist and Relative Volume at the open
jester asked 2 years ago
Dear Pat, my name is Marco I have just signed up to Mission Winners about a week ago. I am currently trying to find my way around your site. I really appreciate all the help you give traders on a daily basis. With this in mind I wanted to ask you if there is a basic checklist to get one started that shows one what to do when one can watch the charts during the day. BTW forgive me if there is one and I just have not seen it yet.  In addition I have two questions which I hope you can answer. Firstly, lets say we have drawn our breakout line and I see price crossing the line but on low volume. My understanding is that you would not buy. However would you keep the stock on your watchlist to monitor if volume breaks out later i.e the following day or the following week? Is there are a time period where you drop it should price slowly goes up on low volume? Secondly, as I can watch volume on a daily basis, my understanding is that you would set an alert closely to the breakout point. Once it is reached the point at any time during the session you would then look at the chart and its volume. The question I have it is how do I compare it? The first 10 minutes to first hour is always on higher volume. Do you compare the volume to the same hour the day before? Do you use the concept of relative volume?  I am sorry that my email turned out to be quite long.  God bless you for all the help you give to us each day   Marco 
1 Answers
Avatar photoOwen Staff answered 2 years ago

Hi Marco,
Pat made this video for you...