After days of tracking this animal and having a couple of close calls (to buy and go long)...it's dead an no longer viable to keep watching (for now).
The past couple of times we saw price setup nicely but on both occasions there wasn't enough volume to confirm taking the trade.
We always need significant above average volume associated with up moves in the price action to tell us that it's for real and worth getting into. In this case, the moves were on lower than average volume telling us that the moves didn't have any deep backing.
We dodged the bullet on this one. Good deal.
The past couple of times we saw price setup nicely but on both occasions there wasn't enough volume to confirm taking the trade.
We always need significant above average volume associated with up moves in the price action to tell us that it's for real and worth getting into. In this case, the moves were on lower than average volume telling us that the moves didn't have any deep backing.
We dodged the bullet on this one. Good deal.
