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Trading with Volume and maybe a horizontal line

  • #141
  • Apr 11, 2022 9:16pm Apr 11, 2022 9:16pm
Quoting Anotan
Long on EU daily, probably hold for a few days. {image}
This didn't work out too well, my stop was hit.

Yesterday looking weak, price tried to rally and closed low. Price may need to run the lows from March 7th.
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  • #142
  • Edited 9:53pm Apr 11, 2022 9:20pm | Edited 9:53pm
Quoting Anotan
{quote} This didn't work out too well, my stop was hit. Yesterday looking weak, price tried to rally and closed low. Price may need to run the lows from March 7th. {image}
Price is mushrooming over (from down) on 1hr chart IMHO. Ultra-high vol bar from Wednesday acting as strong resistance. if the price breaks and tests it, I'll look for longs.
Learning is a never ending Journey
  • #143
  • Edited Apr 12, 2022 12:27am Apr 11, 2022 9:24pm | Edited Apr 12, 2022 12:27am
Sold AU in short-term down rally. I'm trying to get out of fear of buying/selling in rallies. and I'm ready to take a loss on if it goes against me. No trailing stops, not closing the trade till hit hits my sl like"OBT journal.
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Learning is a never ending Journey
  • #144
  • Edited 1:57am Apr 12, 2022 1:38am | Edited 1:57am
AU : flipflopping around HVC, pip tick away from my sl
Covering up AU positions with UJ scalp
Edit: Left 2 Uj positions on the table, with stops below trap down move bar hopping this UJ rally could continue
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Learning is a never ending Journey
  • #145
  • Apr 12, 2022 4:10am Apr 12, 2022 4:10am
Quoting PranithR
AU : flipflopping around HVC, pip tick away from my sl Covering up AU positions with UJ scalp Edit: Left 2 Uj positions on the table, with stops below trap down move bar hopping this UJ rally could continue {image}
A couple of things.. today is a big day for UJ. Yesterday UJ puhsed up and through 125.10, Mar 28th high. Today bears will have to get control and push price back below that last high or risk bulls running it higher. If you think about it, today is potentially going to be a messy day. Wait for the dust to settle on JPY.

Second thing is AU, I'm not sure why you went short. The reason why I really like my template is that it highlights big bodied bars. I honestly don't trust wicks that much, but that's another post. On AU, that 2 bar reversal from Mar 8th really stands out.
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  • #146
  • Apr 12, 2022 4:28am Apr 12, 2022 4:28am
Found a short on EU, still bearish because of the daily chart. We had that perfect test on Friday and a weak reaction to the test yesterday.

There is a chance price will run up on me and take me out, price found buyers off the 50% of the Mar 8th bar. But those buyers are struggling to break yesterday's low at the moment. If I could hedge I'd be in on both sides right now.
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  • #147
  • Apr 12, 2022 6:23am Apr 12, 2022 6:23am
Quoting Anotan
Found a short on EU, still bearish because of the daily chart. We had that perfect test on Friday and a weak reaction to the test yesterday. There is a chance price will run up on me and take me out, price found buyers off the 50% of the Mar 8th bar. But those buyers are struggling to break yesterday's low at the moment. If I could hedge I'd be in on both sides right now. {image}
HV bar on 8th march for my broker is at 3:00:smiley:
Learning is a never ending Journey
  • #148
  • Apr 12, 2022 6:48am Apr 12, 2022 6:48am
Quoting PranithR
{quote} HV bar on 8th march for my broker is at 3:00:smiley:
Try Oanda.

EU looks like bears are in control, I thought for sure it was going to rally off that M30 strength.
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  • #149
  • Apr 22, 2022 10:35am Apr 22, 2022 10:35am
is it the End of rising market on AJ Daily chart
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Learning is a never ending Journey
  • #150
  • Apr 24, 2022 11:56pm Apr 24, 2022 11:56pm
Quoting PranithR
is it the End of rising market on AJ Daily chart {image}
I'd probably call it a squat bar.

I think that EORM and Bag Holding are suppose to be small spread with climatic volume, which you don't really see in Forex. I would just refer to that volume as increasing volume.

Really though the whole squat vs eorm/bh is kinda pendantic. Its easy to see that supply is coming in on AJ, too soon to do anything about it. At this points is wait and see for further signs. I.E LH/LL, double tops, failed signs of strength.
  • #151
  • Apr 29, 2022 2:45am Apr 29, 2022 2:45am
It was a fun week on UC, PA was very clear. Today's short was straight PA, the PA on the last 2 days has been sold into and I was basically looking for an excuse to sell. I should have held today's short till the low of April 26th, but I've already started drinking and ready for the weekend!

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EA wasn't too bad either the short I found, the previous day highest volume bar had some weakness on it.

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  • #152
  • May 2, 2022 8:24am May 2, 2022 8:24am
GU : 1st take after 2 weeks, lets see how it goes
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Learning is a never ending Journey
  • #153
  • May 3, 2022 11:09pm May 3, 2022 11:09pm
UC : not a good entry but weakness around. Targeting -61.8
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Learning is a never ending Journey
  • #154
  • May 4, 2022 2:42am May 4, 2022 2:42am
Quoting PranithR
UC : not a good entry but weakness around. Targeting -61.8 {image}
Just be careful to not hold trades too long, if you haven't noticed market behavior is starting to shift from trending to ranging.

I kinda think there is strength on April 29th, but looks like you would TP if it falls to test the HVC.
  • #155
  • May 4, 2022 4:44am May 4, 2022 4:44am
Looks like EA is getting ready to rally.

Yesterday was the AUD rate hike, which caused that widespread down bar closing in the middle. Strenght maybe?

Confusing though price wasn't reacting the close of that widespread down bar nor was it reacting to the high volume up bar, noticed it just touched the close of the test like bar.. Def way too big of spread to be a real test.
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  • #156
  • May 4, 2022 4:55am May 4, 2022 4:55am
Its tempting to go long on UC right now, price seems to be struggling with 2809.

Probably best to wait and see if price will hit 2778 though.
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  • #157
  • May 4, 2022 7:14am May 4, 2022 7:14am
Stopped out and went back in long on EA, this ADP news in a few minutes should launch it north.
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  • #158
  • Edited 9:10am May 4, 2022 8:30am | Edited 9:10am
Some UC longs, buyers are stepping in at the HVC.

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Couple more positions, Ill take some partials when we break today's high.
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Took some partials, trade is risk free. Should be a quick 70 pip run. EA stalled out, but is finally starting to head north.

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  • #159
  • May 4, 2022 9:13am May 4, 2022 9:13am
Added another position on EA, looking for a partial around 4850.
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  • #160
  • Jun 18, 2025 7:54am Jun 18, 2025 7:54am
Quoting Anotan
If you're interested in how I trade, I've laid it out a little while ago in detail here. Before I didn't really understand what a trading journal was for, and it's purpose is for the trader to put everything out there so they have an account of their trades and thought process so they have an account and help them realize their strengths and weakness. A nice little side bonus is the trader will be able to see how far they have come. A little more detail about my realization...

actually makes sense...nice...bravo
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