May 2011
Intermediate to advanced
464 pages
13h 30m
English
book
MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets
by Andrew Coles, David G. Hawkins
Content preview from MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's MarketsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Porosity and Suspension Illustrated
Let's remind ourselves graphically of what porosity is. Figure 13.1 is a 5m chart of the Xetra DAX March 2010 futures. A standard MIDAS support curve is launched from the long black candlestick that creates the lowest point in the sharp one-hour downtrend before price reverses and continues moving up into the next day. However, notice that at the two higher lows, circled price penetrates the MIDAS support curve by several points before responding to it. It does this twice in the first highlighted low and then again in the second one. This is the phenomenon of price porosity. It occurs on all chart timeframes and on all degrees of trend, and it will be present regardless of the format used to chart price.
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