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Ivob's channels, volume, and VWAP thread (EUR/USD)

  • #101
  • Oct 30, 2018 12:51pm Oct 30, 2018 12:51pm
Quoting tzamo
Dear Ivo, Looking forward to your wisdom and really appreciate you taking the time to pass on some of that knowledge to avoid bs in teachings. I still think knowing to read the markets is an edge in my opinion Just to clarify, when I started my trading, I was trading the 1 min charts quite accurately with a complicated strategy that looked at volume. After doubling a small account, I didn't continue and found a more easier and simpler approach using higher timeframes when I understood that the volume is from my brokers clients. Without having...
Can you Share that one minute strategy with us ?
  • #102
  • Nov 1, 2018 3:36am Nov 1, 2018 3:36am
Yesterday's price action on the GBPJPY 5min...

This is an excellent setup.

1. price goes thru a nice round number level: 145.00 (dotted line) on huge volume
2. it makes new high of day bounces of... goes down 3 bars on decreasing volume...
3. I strongly suspect this "retracement" will lead to a reversal... 3 bars is a lot and almost takes out complete previous bar...I would not be happy had I gone long and would I still be in...
4. 50% is the magic number... I let price go back 50% ... changes always happen in the middle. Draw in the fibs after those 3 bars down...
5. as soon as it hits 50% I take the short...

Price went down after that almost 100 pips (I immediately admit I took profits too early)

- Only when price goes thru an important round number... (thanks Julie!)
- only on huge volume (2-3x of the bars before).
- not right before important news... (of course)

Ivo
Attached Image (click to enlarge)
Click to Enlarge Name: midpoint.jpg Size: 48 KB
Trouble lies in what we believe to know for sure that just ain't so.
  • #103
  • May 18, 2019 1:51pm May 18, 2019 1:51pm
hello ivob,i trade the channel too,i have created an strategy but i am trying to modify and get better,what kind of channels do you suggest me?
  • #104
  • Last Post: Sep 11, 2020 2:46pm Sep 11, 2020 2:46pm
Quoting ivob
{quote} Hi, I use FXOpen Uk.. however, the volume does not need to be the same in absolute terms as long as the highs and lows are the same relatively... are they? I found them to be very similar among different brokers. The market (all markets) moves in 1. a move, 2. retracement, 3. continuation (which may fail) After the first 1-2-3 in this chart (black figures) I expect a second point 3 down at the shallower (red) trendline which I had already drawn. I always look for these shallower lines. I took it and then waited for volume confirmation. Then...
Dear, IVob,
Could you share for me the templ, and all the Indi of your post the power of channels, volume, VWAP
Thank you.
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