DislikedPA and volume in M1 are more tend to be ramdon, or short term impluse movement. not a reliable source of market information. I scalp everyday with M5, evern for very short term move, M1 does not give me consistant info that I can bet my money on.Ignored
Hi piphunter, I also agreed that M1 volume AND price tend to be more random and harder to read.
It is interesting to see other viewpoints on volume analysis, especially on different time frames to what I used, such as M1 used by TAH.
I prefer volume on Daily, H1, and M15.
Sometimes, I look at volume on M5, but harder to read there.
With my previous post commenting on TAH's 2 charts, you can see I wrote Stop Vol at 1.4170 near mini support and diminishing volume as price went down, and overnight, that seem to be spot on for the session as EUR/USD gone 100pips upwards from 1.4170 to 1.4270.
That stop vol would mean to me that I don't expect market to go much lower than 1.4170, so stop loss may be put around 1.4160.
This shows that at times M1 volume do provide hints, it is still a matter of how to read them.
I just have the opposite view to TAH for the 2 charts he shown.
The more important factor via observation is how volume reacts to where you think is the Support and Resistance lines, even on M1.
If volume effect is not near S&R, the effect is lessen.
This is one of the big hint, and second important big hint is how price react straight after volume effect, especially the Close.
I still would not trade just based on M1 volume, I would need the M5 vol, and confirm on M15 vol, then more impotantly price move in the direction I am expecting after seeing the volume effects.
This means my entries will always be late though, and that is why I like to observe how TAH entries are extremely early based on his volume reading.
It is just interesting to see other views.
