Ramblings of a Forex Junkie 4,030 replies
Candlestick timer 8 replies
The Part-Timer 1 reply
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Dislikeddo you think a good book to read on volume is master the markets by tom williams ive been reading that over the weekend has opened my eyes to something new thats for sure?
regards damienIgnored
DislikedBased upon what has been revealed in this thread so far, who can now spot trade opportunities? Whomever is brave enough, go ahead and post them and I'll add some comments. I'll also post some of my own once I've seen how solid the understanding is
Kind regards,
O N DIgnored
Dislikedalso the gaps in forex are they the exact same thing as explained in that book. because that book was for stocks? im probably to far ahead here but was curious? i will add my chart of the pair im watching atm.
regards damienIgnored
I guess there is an entry on the bar that closes around 1.0542 and it'd be good for around 60 pips (after you posted the chart, an extremely low volume up bar closed at 1.0616 and was the signal the move was over).
Kind regards,
O N D
DislikedHi OND
Would you have considered this a trade setup ? Heavy selling absorbed by the smart money (on the bars in blue) takes out the weak hands, which is then confimed by the bars in pink which are on low volume; no more supply. 'Two bar low (approx) and higher close' bounce of 50% fib provides a long entry order above the 2nd bar. 1st target is around the green area above which has been a support/resistance flip. Stop is below the 2 bar low.
Thanks,
AstellasIgnored
DislikedHello O n D,
Love your thread, and where your'e going with it.
It's always a pleasure to witness a master at work, especially one with such class and sophistication, a true old fashioned 'gentleman'.
One 'old' guy to another; thank you for your willingness to make a contribution and try to give something back.
ChiefIgnored
Dislikedthanks for replying to my chart OND im still in the learning phase of volumes and need as much ctitisicm good or bad as i can get.
regards damienIgnored
Disliked
Please do contribute as you see fit though. Or take over if I die before I reach a climax, ha!
Kind regards,
O N DIgnored
Hi O n D,
Thought I might share an excerpt from something I'm working on in hopes it will help someone understand the basic concept of volume and it's relevance to their trading, and make it a bit easier to grasp. What follows might seem condescending to some, as it may seem too simple and obvious, but it is not intended to be. It is only intended to reduce a vast subject to a basic idea which makes logical sense and can be easily applied.
I'm continually amazed that traders don't put more emphasis on volume in their trading strategies, as it is one of the very few empirical facts we have to draw on in our attempts to understand the market's actions and intentions. If we don't rely on the emperical data available then we are left with only 'gut' instincts.
Volume & Price
DislikedHi O n D,
[left][font=Arial]Thought I might share an excerpt from something I'm working on in hopes it will help someone understand the basic concept of volume and it's relevance to their trading, and make it a bit easier to grasp. What follows might seem condescending to some, as it may seem too simple and obvious, but it is not intended to be. It is only intended to reduce a vast subject to a basic idea which makes logical...Ignored