DislikedFor the sake of those who might not know how useful Volume can be for trading in the Forex market, I have put together a few images to demonstrate its usefulness. I am certain some will disagree, but I think the images speak for themselves. And by the way, studies have shown that Tick Volume is not that far off from Real Volume. Tick Volume is what Volume Price Analysts use in the Forex market, because Real Volume is not supplied by Forex brokers. Now, let's...Ignored
"Forex trading is decentralized, OTC trading. There is no single place to look at to see the actual volume of a currency pair. That's why it's often said that the volume provided by your broker is useless. Institutional Forex trading volume, the volume that matters and moves the markets. We retail traders can't see institutional volumes. All we can rely on is supply/demand levels, and price action on the charts, with of course commitment of traders report numbers. That's it. Of course pay attention to the news, but do not try to predict the news. It would be like gambling.
The Forex market is a decentralized market, which means that there is no formula for volume or method of keeping track of the number of contract and contract sizes, such as in the stock market. The Forex market measures volume by counting the tick movements."
But if you think that is helping you in your trading style, if you are comfortable with it, that is your decision.
The market gets the 'data' from the charts, not the other way around. When you look at the charts, and you strictly trade on the charts, you eventually realize that it is successful, because you know what to look for and you know when to buy/sell or sometimes not trade at all. With all the indicators, it all looks good when you are looking at the history, but when you're actually into trading, the signal/move shows on the indicator after the move happens on the charts. After that it is already too late to enter. Either way appreciate you sharing the charts. Much easier to talk and debate while you have charts posted. Like I said, if that is what you are comfortable with trading that is great.
You see the chart i attached. EURUSD 15 min. Take a look at first big white circle to the left, if you read the candlestick charts, you would know that is the pattern to enter buy position, accumulating to go bullish. Take a look at the volumes it does show action, but that shows after that move up happens. Take a look to the right of the chart, if you read the patterns on candlestick, you already know you can enter sell position. The volume shows, but that is after the move happens.