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-   -   Hey...what about Volume? (https://www.forexfactory.com/showthread.php?t=723604)

thisara1 May 26, 2019 6:02pm | Post# 581

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Looks like another "Order flow inversion" on GBP/USD. {image} I'm not really fond of entering positions on a Friday (my own prejudice), but this appears to be the first "daylight" in at the end of a very long selling tunnel. We are also very near some very significant lows. I would imagine that whether or not price rises will have much to do with Parliment's pending decisions on Brexit... So hold on to your pips folks, this may be a very volatile ride. **EDIT** WOW!! hows this for timing?? I just found out that Theresa May has announced she will...
good morning lovely day;s DonPato,,GBPUSD what is targert level?
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DonPato May 26, 2019 7:41pm | Post# 582

{quote} good morning lovely day;s DonPato,,GBPUSD what is targert level? {image}
I will leave you to determine you own stops and limits according to your particular trading plan. Again I want to repeat...

I'm not giving trading advise or telling anyone how or when to trade. That is a decision each of you must make. The idea that this thread is a "trading system" or particular "methodology" is not correct. I am sharing my observations with you and showing how these observations affect my (completely) discretionary decisions to enter or exit. There is no "system" here simply the "truth" about how order flow/volume affects price.

I do NOT advocate or use "technical analysis" or "price action" or any other systemized/probability/math based approach. These will ALL end in unrecoverable losses. I simply follow the market when I think a change in the order flow/volume structural components are occurring. For me, that has resulted in more gains than losses and smaller losses than I have had in the past.

DonPato May 27, 2019 11:01am | Post# 583

Hello Friends - Happy Memorial Day.

Just a quick note (no trading for me today)...

I have posted an announcement here: https://www.forexfactory.com/showthread.php?t=919388

For the next month or so, I will be concentrating efforts in this new endeavor. While I will still be monitoring this thread for comments I may not respond as quickly. I hope you will ready this announcement and be supportive of this new endeavor.

v2vboni May 27, 2019 1:22pm | Post# 584

Hello Friends - Happy Memorial Day. Just a quick note (no trading for me today)... I have posted an announcement here: https://www.forexfactory.com/showthread.php?t=919388 For the next month or so, I will be concentrating efforts in this new endeavor. While I will still be monitoring this thread for comments I may not respond as quickly. I hope you will ready this announcement and be supportive of this new endeavor.
Everybody would still see any new thread created or post a reply regardless of the domain you use under FF manage domain like metalsmine.com... It is the same original forum web application/forum thread/content... with just different domain redirection, themed change and default scanner box panel of all metal instruments. The same goes with Energy/Oil exchange and I believe they have Crypto exchange domain too.

Hehehe May 27, 2019 4:12pm | Post# 585

Hi, would like to ask about this volume profile:
https://www.algodeveloper.com/product/volume-profile/
It is drawing live or it just shows volume profile from the past?

DonPato May 27, 2019 4:35pm | Post# 586

Hi, would like to ask about this volume profile: https://www.algodeveloper.com/product/volume-profile/ It is drawing live or it just shows volume profile from the past?
On my charts the show live up to the tick. However at times when the market is slow it takes a few minutes for a couple of ticks to come through... sometimes I wait for 5 minutes before the calculation is done and the histogram appears.

As a side note. The proprietor of the site will work with you to correct any issue you might be having. I am very pleased with the product and feel it well worth the price.

thisara1 May 27, 2019 11:56pm | Post# 587

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DonPato gbpjpy long setup now fail?
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Hehehe May 28, 2019 6:33am | Post# 588

This indicator is based on real volume or on volume from broker ?

DonPato May 28, 2019 5:02pm | Post# 589

This indicator is based on real volume or on volume from broker ?
It uses the data feed from you cTrader platform. Whether that is your broker or someone else...the data on you cTrader platform.

Hehehe May 29, 2019 6:34am | Post# 590

Is here someone who is using VSA volume from Trade Guider company ?? I've got a question

J-j May 29, 2019 10:04am | Post# 591

DonPato gbpjpy long setup now fail? {image}
Hi thisara1, I know you asked your question to DonPato, which he may have another explanation? But if I may offer some explanations, my understanding of delta is that it is based on market orders so it won't be able to track the limit orders that are already sitting on the book or in the market so to speak, so as with other types of delta indicators you can have occurrences of hidden divergence (which can be a trading tactic in & of itself) so think effort vs reward or movement or momentum, such as in this situation where there are a lot of buy orders coming in but price was failing to move higher despite the market buy orders hitting the tape, so just above there, one could possibly deduct there may have been a lot of sell limit orders sitting there & absorbing the buying pressure, & hence price went lower in the interim, despite it looking otherwise. Make sense, anyway hope this helps?

As this DonPato's thread I hope I'm not stepping on his toes here by chiming in? Its a great thread & I have gotten a lot out of it myself, I've also not long started using this indi as well & am finding it useful in assisting in monitoring the orderflow & for picking up divergences within it.

Cheers

DonPato May 29, 2019 10:36am | Post# 592

***I write this at the risk of sounding offensive and I apologize for this. I wish to make it crystal clear that this thread is intended for conversation and the exchange of ideas...not trading advise***

... As this DonPato's thread I hope I'm not stepping on his toes here by chiming in? Its a great thread & I have gotten a lot out of it myself, I've also not long started using this indi as well & am finding it useful in assisting in monitoring the orderflow & for picking up divergences within it. Cheers
Thank you for your answer J-j. I appreciate your assistance and there are no toes stepped on here. However I would like to point out that I have stated on numerous occasions that this thread is NOT a trading signal, nor am I here to tell anyone how or where to trade. I do not and will not answer questions like:

  1. Where should I enter?
  2. Where should I place my limit or stops?
  3. Is this trade over or should I hold longer?
  4. What is the entry or exit "signal"?

These questions imply that volume analysis is some kind of "system" or "methodology" that technical traders can apply a rule set. Nothing could be further from the truth. This thread is here to stimulate conversation on how to use volume analysis as a tool in your evaluation of markets. I have established NO rule set for using this and will not.

If any of you has a question on how I evaluate the volume information please ask me...I will give you my opinion. Like all analysis I believe it is incumbent on the trader to draw his/her own conclusions. Most of the time, it should seem obvious. (imo)


pooh123 May 29, 2019 10:55am | Post# 593

Is here someone who is using VSA volume from Trade Guider company ?? I've got a question
I purchased VSA plug in from Tradeguider. However nowadays I don't use it much. I can identify SOW and SOS without using it. What's your question ?

DonPato May 30, 2019 10:21am | Post# 594

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New long positions established on NZD/USD:
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After a long (and seemingly endless) move down, it appears there has been a change in the order flow/volume in this market. Relentless selling appears to have exhausted now. This is marked by majority selling lower and lower in each successive candle. I interpret this as the retail crowd now is on board with the selling. Then, those sellers are stopped out along with the larger term traders who have now exited their shorts in profit. This produced an order flow "inversion" showing the majority of buyers near the highs of the day.

Now the late seller is pushing prices down into the area where buying overcame selling. I anticipate more buying in this area, and have also entered a buy with another pending buy in the same area where buyers really showed their interest 6 days ago. I am effectively buying the low of the day/week/month/year. (Time will tell if I have chosen wisely)

DonPato Jun 2, 2019 9:35pm | Post# 595

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2nd "order flow inversion" on NZD/USD:
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I still have not been filled on my 2nd (and lowest) order but the current order is positive. This being the first of the week we might get some ranging but the buying at the top of Friday's candle shows me that the selling interest (at least in the foreseeable future) is dropped to just about nil.

thisara1 Jun 5, 2019 6:30am | Post# 596

{quote} It uses the data feed from you cTrader platform. Whether that is your broker or someone else...the data on you cTrader platform.


DonPato are use volume profile indicator oh markert profile indicator both same view?

DonPato Jun 5, 2019 9:29am | Post# 597

{quote} DonPato are use volume profile indicator oh markert profile indicator both same view?
Not necessarily...the market profile indicator (which is the original) measures TIME spent at each level calculated in minutes (I think). This differs from Volume profile which measure VOLUME (be it tick or actual) at each level. My personal preference is volume profile because time is relative and it may not necessarily measure order flow...remember that TIME and Volume are two completely different structural components of the market.

JackJones Jun 5, 2019 11:54pm | Post# 598

{quote} Not necessarily...the market profile indicator (which is the original) measures TIME spent at each level calculated in minutes (I think). This differs from Volume profile which measure VOLUME (be it tick or actual) at each level. My personal preference is volume profile because time is relative and it may not necessarily measure order flow...remember that TIME and Volume are two completely different structural components of the market.
yeah you know what it's about

just adding a bit: a tick is just a hit on a price, it may hit a price 50 times in 1 hour or it might hit a price below it just 8 times in one hour so tick-vol is more helpful than time - time as we know it is just a construct to measure movement - but time can show value.. so tick-vol is like a tier 1 volume in that you can't see what is transacted but you can see how much action there was at said price.

JackJones Jun 6, 2019 12:12am | Post# 599

DonPato gbpjpy long setup now fail? {image}
that's b pattern in that action is shifting lower, so on a retest of the 138?? green bars to see it fails to break higher then I would say it's going down again because if someone was buying it they might want to sell out of it, if someone was selling it then they might sell it again, or maybe a bit of both..

personally though i would not rely on that time frame to guess tick action, the time frame is very important as in one hour bars, or one full hour of 15 mins bars, or based on the market open and close UK/US etc, or another one is to look at days as they ticks form into a month to see where action is distributed.

p patterns imply a move up
D patterns show price is ranging and value of mean/mode is in the middle
b patterns suggest its moving down

headfake Jun 6, 2019 3:39am | Post# 600

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{quote} Well I thought the concept of support might apply... for the last 3 years this is the area where more supply comes into the market to support price... this combined with the order flow/volume data I've been observing might result in higher prices.
Well looks like we got exactly what I said, the half decent correction and then down again .

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