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Cable Update (GBPUSD)

  • #611,561
  • Jul 22, 2021 10:21am Jul 22, 2021 10:21am
Moty...

Moty...
Hit your hammer even more...

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  • #611,562
  • Jul 22, 2021 10:36am Jul 22, 2021 10:36am
Quoting Bainbrito
{quote} 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.
Yeah absolutely I'd love to hear about it and how you implement it

Everything has an application, just got to know how to use it

As for cable, well, not my day, took a loss early on then made some back on that short on NY

I do best at ranging markets or tops and bottoms and catching the start of breakouts.. not sure what you'd call this phase apart from the continuation of y'days breakout, I don't want to buy for fear of getting reversed on or short for fear of getting ploughed over by some obviously determined bulls
  • #611,563
  • Jul 22, 2021 10:40am Jul 22, 2021 10:40am
This could just be a pullback on GBPUSD. I will not ignore a buying opportunity if I see one.
Learn from your mistakes and march on.
  • #611,564
  • Jul 22, 2021 10:42am Jul 22, 2021 10:42am
scalping GU

closed all 1.3746 .. done for to day..
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Trade with prediction = witch with her visions lol
  • #611,565
  • Edited 10:55am Jul 22, 2021 10:43am | Edited 10:55am
Dynamic Support Trend line and Static Support is about to get broken; now we wait for retest and SHORT!!!
Please wait for a Clear break of tend; Candle must close below the Trend line and come back to retest it the Static Support Level....
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My telegram: https://t.me/avidforex
  • #611,566
  • Jul 22, 2021 10:44am Jul 22, 2021 10:44am
Quoting mysterio
{quote} Yeah absolutely I'd love to hear about it and how you implement it Everything has an application, just got to know how to use it As for cable, well, not my day, took a loss early on then made some back on that short on NY I do best at ranging markets or tops and bottoms and catching the start of breakouts.. not sure what you'd call this phase apart from the continuation of y'days breakout, I don't want to buy for fear of getting reversed on or short for fear of getting ploughed over by some obviously determined bulls
Anna Coulling wrote a pretty good book on Volume Price Analysis.
Learn from your mistakes and march on.
  • #611,567
  • Jul 22, 2021 10:46am Jul 22, 2021 10:46am
Quoting napsterfx
{quote} Possible downside here 50% fibo , MA 50, big Resistance 1,3755 AND 1,3775 let's see ...
Good reaction let's see if it Go's to the next level
  • #611,568
  • Jul 22, 2021 10:52am Jul 22, 2021 10:52am
The USDX chart also has a story to tell. It's best not to ignore it!

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Learn from your mistakes and march on.
  • #611,569
  • Jul 22, 2021 10:52am Jul 22, 2021 10:52am
Quoting BigNumbers
Dynamic Support Trend line and Static Support broken; now we wait for retest and SHORT!!! {image}
I think price needs to get to 1.3803 before proper selling will begin.
  • #611,570
  • Jul 22, 2021 11:00am Jul 22, 2021 11:00am
I closed my recent short position. I have placed a buy market order on a retracement trade. I still have sell limit orders set at higher prices.
Learn from your mistakes and march on.
  • #611,571
  • Jul 22, 2021 11:01am Jul 22, 2021 11:01am
Quoting mysterio
{quote} Yeah absolutely I'd love to hear about it and how you implement it Everything has an application, just got to know how to use it As for cable, well, not my day, took a loss early on then made some back on that short on NY I do best at ranging markets or tops and bottoms and catching the start of breakouts.. not sure what you'd call this phase apart from the continuation of y'days breakout, I don't want to buy for fear of getting reversed on or short for fear of getting ploughed over by some obviously determined bulls
Volume is usually meaningful but it’s not always easy to interpret and sometimes it is a complete waste of time. What is weird to me is how price rose yesterday on steadily decreasing volume, it shows a lack of participation by the market makers and was perhaps a test of supply.. maybe to trap bears.. I don’t know. But today the price rose on rising volume which indicates participation. When price is rising like this with volume it is only safe to buy in my opinion. I trade on a candlestick chart but also use heikin ashi with 20ema as a filter. I do not sell above the ema or buy below it as a rule of thumb. Here the volume gave confidence to buy and made me think twice about selling, which is why I like it.
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  • #611,572
  • Jul 22, 2021 11:01am Jul 22, 2021 11:01am
Next address 1.36
  • #611,573
  • Jul 22, 2021 11:05am Jul 22, 2021 11:05am
Too many distractions in my house! And it's causing me to make mistakes! I need to find a better place to work!
Learn from your mistakes and march on.
  • #611,574
  • Jul 22, 2021 11:08am Jul 22, 2021 11:08am
200 EMA rejection
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  • #611,575
  • Jul 22, 2021 11:08am Jul 22, 2021 11:08am
Quoting here2there
{quote} 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.
Yea volume profile the way most people talk about it is not tick volume

But if you're looking at spot forex on tradingview it has to be. Just logical deduction what else can it be. I believe this shows it, it's counting the number of ticks on each row. If you scale in and out on your screen the numbers change. Anyway no big deal. Who gives a shit at the end of the day

Clearly a slow day sorry to spam the thread
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  • #611,576
  • Jul 22, 2021 11:13am Jul 22, 2021 11:13am
Quoting mysterio
{quote} Yea volume profile the way most people talk about it is not tick volume But if you're looking at spot forex on tradingview it has to be. Just logical deduction what else can it be. I believe this shows it, it's counting the number of ticks on each row. If you scale in and out on your screen the numbers change. Anyway no big deal Clearly a slow day sorry to spam the thread {image}
I see. I was wrong.

So TradingView is essentially deriving the information from ticks and averaging it out according to price?
Learn from your mistakes and march on.
  • #611,577
  • Jul 22, 2021 11:14am Jul 22, 2021 11:14am
Quoting pipcenturion
{quote} I think price needs to get to 1.3803 before proper selling will begin.
You can't adequately predict the market, If the broken Support turned Resistance and it holds then we can go short but if it break through then we can continue going up....

We don't have to be BAIS; Price can go either way. What is important is knowing these positions where the market makes its decisions so we can cut our loses quick.
And when it finally goes in your direction... JUST LOAD IT UP!!!
My telegram: https://t.me/avidforex
  • #611,578
  • Jul 22, 2021 11:18am Jul 22, 2021 11:18am
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. 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
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.

Idk what volume brokers provides in their feeds, what is that number - ticks, lots or whatever. But it seems like Volume Profile lacks accuracy/resolution and processes data in its own way.
Compared the data from CME, where volume is contracts.

TV shows only Ask volume (probably depends on resolution, need Premium for 1sec TF) and different volume per price. Overall should be quite reliable (nodes, POC)
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15m
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Air force
  • #611,579
  • Jul 22, 2021 11:28am Jul 22, 2021 11:28am
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yes yes yes
  • #611,580
  • Jul 22, 2021 11:28am Jul 22, 2021 11:28am
Quoting BigNumbers
{quote} You can't adequately predict the market, If the broken Support turned Resistance and it holds then we can go short but if it break through then we can continue going up.... We don't have to be BAIS; Price can go either way. What is important is knowing these positions where the market makes its decisions so we can cut our loses quick. And when it finally goes in your direction... JUST LOAD IT UP!!!
Who supports and resists?
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