DislikedAs nice as volatility is on jpy crosses, I find they are all too correlated to trade more than 1/2, if only looking at a few pairs....Ignored
cheers
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DislikedAs nice as volatility is on jpy crosses, I find they are all too correlated to trade more than 1/2, if only looking at a few pairs....Ignored
DislikedReposting this chart on a daily TF .... this still appears to be an impending high probability reversal. For a change, i have marked the chart with some vertical yellow lines starting from left to right ... I'll attempt to use the language as used in volume spread analysis to explain whats happening.
We are hitting a resistance zone.
Starting from left to right:
1-Climactic high volume with large up bar = Hidden Potential selling + Effort to Rise (as per Wycoff language)
2- Next bar confirms that selling came in on high volume and effort to...Ignored
DislikedInteresting read. Now question is: is this just an interesting read or useful tradeable information?
Would be great if you can post a chart in which the volume has lead you to enter a trade. Cause after all we are here to trade, not analysis per se.
anyways, quite interesting.
cheersIgnored
DislikedI use volume is futures and stocks quite well as an additional confluence. However, volume in spot forex is not accurate. It is nothing more than a tick display - i.e. display of number of trades - which is dependent on your data feed. I would not use volume in spot forex for the above reasons.Ignored
DislikedHello Custos,
When i started learning about trading stocks, i learned that volume (representing sentiments/ involving actions of professionals) is the key part of the whole puzzle of chart reading/analysis and then reaching a decision as to whether entering a particular trade has the max odds on the side of the trader. I would quote 1 book particularly, this is a 1930 classic:
1) Tape Reading & Market Tactics by Humpry B Neil (This book has given a real inside of market psychology)
http://site.fraserpublishing.com/TAREMAshort.pdf
http://www.amazon.com/Reading-Market.../dp/0870340743
Mr...Ignored
DislikedHaving said that, I think it can be used as an extra confirming factor in conjunction with PA.Ignored
Dislikedwell, those are the levels I watch for, but with a different strat now, as mentioned in the previous posts. Attached is eur/usd h1.Ignored
DislikedAre you watching only 5 currencies or you have increased the trading TF so that you get less signalsIgnored
DislikedI am watching now only 5 currencies on the h1, cause I like the "entry-frequency". Every two hours or so I get a new signal. Also, if I watched more pairs, I will get too much of the same market. Meaning, if one jpy moves down, most of the other jpy's will too.
Well, but let's see how that works out, still not so sure which pairs are the best , but gonna try a few out.Ignored
DislikedYes ..get a feel for the better ones ...espacially the non co-related, Highest liquidity and stable price action.
By the way (in case you missed it) I have added the links for the following in my previous posts:
1- Mastering the Markets -By Tom Williams
2- Better Volume Indicator - All it does it apply color to the default volume
bars in MT4 and when you'll put the cursor on the bar it will give the
description.
3- Explanation document for the above indi ... on the meaning of each bar
4- Importance...Ignored
DislikedA solid resistance level with 2 confluence level is up above. Anyone else watching this.
Custos , what do you think and how about the placement of limit sell and SL which i have placed on the chart?
CheersIgnored
DislikedA solid resistance level with 2 confluence level is up above. Anyone else watching this.
Custos , what do you think and how about the placement of limit sell and SL which i have placed on the chart?
CheersIgnored
DislikedSo, I've been working on testing a range trading methodology the last couple of days. Astonishingly, it does remarkably well.
The basic idea is:
1. Mark up the chart with S/R levels
2. When price approaches an S/R level, enter (in expection for a bounce) and put your stop behind the next (e.g. lower) S/R level and Profit target before the next (e.g. higher) S/R level.
3. If price breaks the S/R level, wait for it to hit the S/L or to retest the broken S/R level to enter now at the opposite direction and close out the losing trade.
That procedure...Ignored