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Cable Update (GBPUSD)

  • #611,541
  • Edited 9:22am Jul 22, 2021 9:12am | Edited 9:22am
Quoting mysterio
{quote} This is tick volume on spot forex remember guys You will need something like Sierra charts to get the true contract volume/DOM on the futures market Sorry probably telling you what you already know
Volume Profile is not tick volume. It's volume according to price. There is a difference. Please look into this, so as not to mislead people into thinking they are the same thing.

Also, studies have shown that tick volume is not far off from real volume. So tick volume can still be useful for trading Forex. Tick volume is not perfect, but if you know how to use it, it can be helpful.
Learn from your mistakes and march on.
  • #611,542
  • Jul 22, 2021 9:17am Jul 22, 2021 9:17am
Quoting gatenio
why to try to pick the top? no sign of bears right now. wait for some confirmation, 15m engulf at least to feel the momentum..
1000% agree..

seller order at 3790 & 3800..
until i see confirmation of reversal, im holding my longs..

when i see the sign, will jump in big one.
Peace Yo!
  • #611,543
  • Jul 22, 2021 9:22am Jul 22, 2021 9:22am
Quoting here2there
{quote} Note: this is not a recommendation. But to answer your question, the one you see on my screenshot is from TradingView.
Thank you, that is very helpful. I will look into it.
  • #611,544
  • Jul 22, 2021 9:22am Jul 22, 2021 9:22am
I think, it Will go up to 38800 to 38900
  • #611,545
  • Jul 22, 2021 9:27am Jul 22, 2021 9:27am
Quoting Bainbrito
{quote} Thank you, that is very helpful. I will look into it.
The following attached indicators are also very good for this!

Attached File(s)
File Type: ex4 VP-v6.ex4   52 KB | 347 downloads

Attached File(s)
File Type: mq4 VP-Range-v6.mq4   82 KB | 316 downloads
Learn from your mistakes and march on.
  • #611,546
  • Jul 22, 2021 9:29am Jul 22, 2021 9:29am
Quoting here2there
{quote} Volume Profile is not tick volume. It's volume according to price. There is a difference. Please look into this, so as not to mislead people into thinking they are the same thing. Also, studies have shown that tick volume is not far off from real volume. So tick volume can still be useful for trading Forex. Tick volume is not perfect, but if you know how to use it, it can be helpful.
It is tick volume on the Y axis (price) rather than what is commonly known as tick volume IE on the X axis (over time)

Is this not correct ? Happy to admit I'm wrong here I haven't studied it in great depth

Whenever I've compared the true volume traded to the volume profile on trading view it looks fairly different to me, not to say it has no value. I've not seen those studies, I merely assumed they would be somewhat different
  • #611,547
  • Edited 9:46am Jul 22, 2021 9:35am | Edited 9:46am
Quoting mysterio
{quote} It is tick volume on the Y axis (price) rather than what is commonly known as tick volume IE on the X axis (over time) Is this not correct ? Happy to admit I'm wrong here I haven't studied it in great depth...
It is volume according to price. In other words, it pertains to the volume of orders placed at a given price. It is quite reliable.
Learn from your mistakes and march on.
  • #611,548
  • Jul 22, 2021 9:37am Jul 22, 2021 9:37am
Quoting here2there
{quote} The following attached indicators are also very good for this! {file} {file}
Cheers! I’ll have a look at these. Much appreciated.
  • #611,549
  • Jul 22, 2021 9:39am Jul 22, 2021 9:39am
out at 60 wait uncase buy sign
  • #611,550
  • Jul 22, 2021 9:41am Jul 22, 2021 9:41am
Quoting Bainbrito
{quote} Cheers! I’ll have a look at these. Much appreciated.
I updated my comment to add the range version of the indicator.

Note: these indicators are not mine, but they are freely shared. Some coders are very kind to us traders!
Learn from your mistakes and march on.
  • #611,551
  • Jul 22, 2021 9:45am Jul 22, 2021 9:45am
All longs for scalps closed and reminds me of why i do not scalp,, last fing time.

Back to the long term weekly down swing, daily rally is corrective so short is the way to go with entry on 4H

old support became resistance for the upside recent rally


Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #611,552
  • Jul 22, 2021 9:45am Jul 22, 2021 9:45am
Quoting here2there
{quote} It is volume according to price. In other words, it pertains to the volume of orders placed at a given price. It is quite reliable.
Yea but, tradingview doesn't have that information (the volume of orders placed at a price). All it has is a price feed. Everything on your screen is either derived from that price feed or studies you add on top. That's the only reason I made that comment, so people knew this info. That's great that it's accurate though, whatever makes you money is good
  • #611,553
  • Jul 22, 2021 9:49am Jul 22, 2021 9:49am
In my Opinion we can't go SHORT now.... Learn patient except you have a large account that would accommodate 100 pips SL..
Check the Support Trendline on the chart.. at least it should be broken before we think of going SHORT!!!!
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My telegram: https://t.me/avidforex
  • #611,554
  • Jul 22, 2021 9:50am Jul 22, 2021 9:50am
Quoting mysterio
{quote} Yea but, tradingview doesn't have that information (the volume of orders placed at a price). All it has is a price feed...
That may be so, but it is not tick volume.

If you can prove Volume Profile is tick volume, then I will admit to being wrong. However, even if it is tick volume according to price, it doesn't make it less reliable.
Learn from your mistakes and march on.
  • #611,555
  • Jul 22, 2021 9:57am Jul 22, 2021 9:57am
I shorted, will trailing it since going to sleep, hope can reach tp
Attached Image (click to enlarge)
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Hope everyone gets green pips
  • #611,556
  • Jul 22, 2021 10:00am Jul 22, 2021 10:00am
Attached Image (click to enlarge)
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yes yes yes
  • #611,557
  • Jul 22, 2021 10:05am Jul 22, 2021 10:05am
Hi All.

in couple of hours if price close above 1.37630 in 1hr chart then we can see 1.38000

if price close below 1.37338 then can bear in control zone (1.37444 to 1.37338)
  • #611,558
  • Jul 22, 2021 10:05am Jul 22, 2021 10:05am
A bit tooo early to take that trade off see if it comes up with another short trade confirmation
  • #611,559
  • Jul 22, 2021 10:16am Jul 22, 2021 10:16am
Quoting Pat Chiko
{quote} GU Daily/weekly Map found posted here . Map 21st July Map {image} Current set up {image} The sticky situation {image}
GU

Scalping at SRF M30.


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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #611,560
  • Jul 22, 2021 10:21am Jul 22, 2021 10:21am
Quoting mysterio
{quote} It is tick volume on the Y axis (price) rather than what is commonly known as tick volume IE on the X axis (over time) Is this not correct ? Happy to admit I'm wrong here I haven't studied it in great depth Whenever I've compared the true volume traded to the volume profile on trading view it looks fairly different to me, not to say it has no value. I've not seen those studies, I merely assumed they would be somewhat different
I use tick volume all the time and find it very useful, it can tell a very interesting story sometimes. I’ll do a post on it when I get a chance. It isn’t perfect but it is good enough. I mostly use it to confirm an idea but sometimes it can be enough on its own to make me take a trade or exit a trade. It’s not for everyone but it suits my style of trading and as a scalper it may be useful to you.
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