Nour Arslan
NoviceI've noticed the same trend. It feels more like a rotation than a quality play, with bigger players consolidating.
Sounds pretty standard. I also run a quick scan for unusual options activity to see if there's any institutional money moving.
I'm seeing similar patterns. Could just be end-of-week profit taking, or maybe some rotation out of mega-caps. Nothing screaming 'sell' to me.
Interesting observation. While 0.618 is a key level, I'd be cautious about solely relying on Fibs without considering other technical factors like moving averages or volume trends. What else are you seeing that supports this zone?
Optimal timeframe for Renko is a bit of a misnomer since Renko isn't time-based. What you're really asking about is the optimal brick size. I'd suggest starting with a smaller ATR for day trading and slowly increasing it until the noise subsides, but not so much that you miss entries.
While high volume certainly adds conviction, I've seen plenty of high-volume pumps that just as quickly dump. Context matters so much more than just volume alone.
I'm leaning towards a potential leg down if we don't see a significant increase in buying volume soon. The consolidation feels more like a pause before a drop than a base being built.
I'm seeing the same thing. That kind of move needs follow-through, otherwise it often just unwinds. Good call on the potential retrace.