NOT FINANCIAL ADVICE
It's been a while since I posted any updates for
ZIL and yes, the incumbent bearish market has everything to do with it.
Also, there really isn't much to do during a bear market except to BTFD.
But we do have to roughly figure out if the bottom is here, or not.
Let us take a very simple look atZIL's volume since Dec 2020.
Bear, no pun intended, in mind that what I aim to get out of this study is to have a general idea of how total volume correlates with price action.
Uptrends are consolidated and measured as if they represent a stepping up-block for the price to move up. Vice-versa for downtrends or side trends, represented by a down-block.
Allow me to extrapolate the following 4 super simple deductions when looking at these blocks:
So now let's take a look at the latest up-block, which is still only 7bars young.
While its volume is still a mere slight reduction from the previous one, there is a chance that it meets the median 12 bars and outgrows the volume significantly.
If this were to happen within the next 3 to 5 days, then I gather that things may be looking really good forZIL soon, but perhaps not before another occurrence of a down-block.
Lending credence to this premise is the diminishing volume of down-blocks.
So are we going to start calling for a potential market bottom?
Not yet, but I do think we are quite close to one.
It's been a while since I posted any updates for
ZIL and yes, the incumbent bearish market has everything to do with it.Also, there really isn't much to do during a bear market except to BTFD.
But we do have to roughly figure out if the bottom is here, or not.
Let us take a very simple look at
ZIL's volume since Dec 2020.Bear, no pun intended, in mind that what I aim to get out of this study is to have a general idea of how total volume correlates with price action.
Uptrends are consolidated and measured as if they represent a stepping up-block for the price to move up. Vice-versa for downtrends or side trends, represented by a down-block.
Allow me to extrapolate the following 4 super simple deductions when looking at these blocks:
The median up-block lasts 12bars
The volume for up-block decreases with each iteration as we reach the apex of the bull market, and keeps decreasing through the bear market.
The median down-block lasts 19bars
The volume for down-block decreases significantly as we reach the apex of the bull market but then explodes resulting in a bear market, before levelling off.
So now let's take a look at the latest up-block, which is still only 7bars young.
While its volume is still a mere slight reduction from the previous one, there is a chance that it meets the median 12 bars and outgrows the volume significantly.
If this were to happen within the next 3 to 5 days, then I gather that things may be looking really good for
ZIL soon, but perhaps not before another occurrence of a down-block.Lending credence to this premise is the diminishing volume of down-blocks.
So are we going to start calling for a potential market bottom?
Not yet, but I do think we are quite close to one.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.