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USDCAD trend reversal?

  • #1,101
  • Jun 26, 2007 12:12am Jun 26, 2007 12:12am
red flag on this pair...looks like this market is setting up a NR4/ID...breakout mode
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  • #1,102
  • Edited 5:04am Jun 26, 2007 4:07am | Edited 5:04am
Quoting marketwavez
Good morning , All

We got that coil break -out after all .

Now , which way ?..........
-----------------------------------------

North or South ?.........
Usd/Cad -Update

Price is still fooling around in this channel ............

Which way will price break and start to trend ?
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  • #1,103
  • Jun 26, 2007 5:34am Jun 26, 2007 5:34am
Please explain me again cause I didnt quite understand - volume in spot forex... HOW?
  • #1,104
  • Jun 26, 2007 5:51am Jun 26, 2007 5:51am
Quoting OrionsWay
The volume that registers is when each trade is paired up and the order flow overcomes the other that will tick up or down 1.
2 buy orders and 3 sell orders the volume will tick up 1. and price will drop 1. that volume balance will be relevant to the spread of that bar being printed. The magnitude of orders overcoming other orders in this ZERO SUM GAME will prove where that activity is and what type of players are active.
That is the best i can explain it, hope this helps you understand.
Maybe 1 day the FX arena will become 1 standard exchange and have complete volume like futures.

The volumes counted in fx are not each tick or trade but the imbalance of the 2, which when 1 overcomes the other bid offer its added.

Like currently in cad 1hr vol 293 means the bid out numbered the offers 293 times and the spread is that reflection of order flow for this current bar. bears were in control and now bid has overcome offer for this moment.
"Millionaires don't use astrology, billionaires do"
  • #1,105
  • Jun 26, 2007 5:57am Jun 26, 2007 5:57am
Quoting marketwavez
Usd/Cad -Update

Price is still fooling around in this channel ............

Which way will price break and start to trend ?

Hi Market,

What Chart service do you use that you have posted?

Thanks
Proper Prior Planning Prevents Piss Poor Performance
  • #1,106
  • Jun 26, 2007 6:34am Jun 26, 2007 6:34am
looking for a certain level before looking at this pair again.
BAM BAM BOOM! -bravado
  • #1,107
  • Jun 26, 2007 6:36am Jun 26, 2007 6:36am
Quoting OrionsWay
Like currently in cad 1hr vol 293 means the bid out numbered the offers 293 times
And how exactly do you know the total number of bids and offers in an decentralized market? sorry I think I am not following your line of though, please rephrase the above sentence.
  • #1,108
  • Jun 26, 2007 7:01am Jun 26, 2007 7:01am
Quoting WTB
And how exactly do you know the total number of bids and offers in an decentralized market? sorry I think I am not following your line of though, please rephrase the above sentence.
Thats just it you dont know, but not important either to just find activity of major players, just kowing that it takes BIG money to move the market shows the bid or offer is being overcome and represented as a value, Thats it. All Volume really tells is How much activity is happening and activity is professional players when they make huge volumes.
"Millionaires don't use astrology, billionaires do"
  • #1,109
  • Jun 26, 2007 7:04am Jun 26, 2007 7:04am
Quoting bravado
looking for a certain level before looking at this pair again.
what level is that??
  • #1,110
  • Jun 26, 2007 7:20am Jun 26, 2007 7:20am
Quoting VEC
what level is that??
looked at the chart again. not seeing much atm.

but keeping an eye on this pair through the week.
BAM BAM BOOM! -bravado
  • #1,111
  • Jun 26, 2007 7:33am Jun 26, 2007 7:33am
looking for a support line break.
BAM BAM BOOM! -bravado
  • #1,112
  • Jun 26, 2007 7:41am Jun 26, 2007 7:41am
Quoting OrionsWay
Thats just it you dont know, but not important either to just find activity of major players, just kowing that it takes BIG money to move the market shows the bid or offer is being overcome and represented as a value, Thats it. All Volume really tells is How much activity is happening and activity is professional players when they make huge volumes.
I am sorry, but in my opinion any volume-related indicator in a decentralized market means jack. But if you find it useful in any way, more power to you.
  • #1,113
  • Jun 26, 2007 7:45am Jun 26, 2007 7:45am
Quoting bravado
looking for a support line break.
and there it is.
BAM BAM BOOM! -bravado
  • #1,114
  • Jun 26, 2007 7:48am Jun 26, 2007 7:48am
support line broken. from here analysis will be possible i believe.
BAM BAM BOOM! -bravado
  • #1,115
  • Jun 26, 2007 7:57am Jun 26, 2007 7:57am
Quoting WTB
I am sorry, but in my opinion any volume-related indicator in a decentralized market means jack. But if you find it useful in any way, more power to you.
All we need to know is its relative value compared to its prior bar. If there was 1253 traded volume, meaning bid or offer overcome its opposite 1253 times and the spread of the candle is 100 pips, but the next candle bar was 2000 volume in same direction and the spread was 35 pips closing on the lows of the bar. To any logical trader that would mean clearly many time frames are playing at that bar and greater professional money has no desire for higher prices. If thats the case only a fool would hold long or be buying for supply is swamping demand atm and no way can it print new highs near term. Does this makes sense
"Millionaires don't use astrology, billionaires do"
  • #1,116
  • Jun 26, 2007 8:26am Jun 26, 2007 8:26am
Quoting OrionsWay
All we need to know is its relative value compared to its prior bar. If there was 1253 traded volume, meaning bid or offer overcome its opposite 1253 times and the spread of the candle is 100 pips, but the next candle bar was 2000 volume in same direction and the spread was 35 pips closing on the lows of the bar. To any logical trader that would mean clearly many time frames are playing at that bar and greater professional money has no desire for higher prices. If thats the case only a fool would hold long or be buying for supply is swamping demand atm and no way can it print new highs near term. Does this makes sense
That exactly what I am talking about. I dont know which indicator you're getting that info from (meaning that 1253 traded volume you mention above -what's that by the way? 1253 millions? 1253 standard lots? 1253 ipods auctioned on ebay? what is that volume measured on?-), but I VERY much doubt of the accuracy of such indicator because basically there is no "official" data of how much volume is being traded. The most your broker can tell you is the volume traded in-house for that period of time, but that's insignificant compared to the whole market. So...
  • #1,117
  • Jun 26, 2007 8:26am Jun 26, 2007 8:26am
down a little more.
BAM BAM BOOM! -bravado
  • #1,118
  • Jun 26, 2007 8:28am Jun 26, 2007 8:28am
Quoting OrionsWay
..volume..
the volume you speak of are tick counts. am i right?
BAM BAM BOOM! -bravado
  • #1,119
  • Jun 26, 2007 8:33am Jun 26, 2007 8:33am
sell .. the trend is sell now ... I think go down more than now ...
byebye costly moments.
  • #1,120
  • Jun 26, 2007 8:34am Jun 26, 2007 8:34am
but short term on H1...
byebye costly moments.
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