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  • #441
  • Dec 4, 2016 8:58pm Dec 4, 2016 8:58pm
Yes, that is interesting. On the 4H chart you can see it is at a level of previous buying as well.

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  • #442
  • Dec 4, 2016 10:45pm Dec 4, 2016 10:45pm
Quoting wizlon32
Regarding volume. Here is what I find makes it interesting. Here is EU M15. Look at that lowest pin bar and the volume associated with it. Without volume it looks very bearish since market open, But why is the highest volume bar also the lowest priced bar? And why is the volume increasing as price gets lower? If you had enough money to influence the markets would you unleash your true selling volume at relevant lows? Is this a push down to take stops and add big longs? I don't know but it's worth keeping an eye on. Just remember, if they are buying,...
Good observation wizlon32; time will tell.

Trade well.
  • #443
  • Dec 5, 2016 1:34am Dec 5, 2016 1:34am
Quoting krismitt
{quote} Good observation wizlon32; time will tell. Trade well.
One of my favourite ways to analyse volume to try to determine what the big boys are up to is to look at M30 or M15 (and also M5 and M1), zoom out a bit and try to see whether volume has been highest at the recent highs or the recent lows.

I have been looking at EU in this way for a couple of weeks now and I think there is buying going on. As far as I can see, it is the lows that seem to be attracting the most interest. I guess we will find out if I'm right or wrong soon enough. Either way there will be a good lesson to learn here.

Does anyone agree or does anyone see it differently?
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  • #444
  • Dec 5, 2016 1:39am Dec 5, 2016 1:39am
Quoting wizlon32
{quote} One of my favourite ways to analyse volume to try to determine what the big boys are up to is to look at M30 or M15
Even if you think there is buying going on on a big scale you can still make money shorting by trading what you see on the smaller scale. Price may "consolidate" for some time so there could be opportunities up and down. Just be careful.
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  • #445
  • Dec 5, 2016 2:25am Dec 5, 2016 2:25am
I like that approach to volume analysis as well. i just spent the weekend reading more about form some of the other forums you mentioned previously. Looks like your analysis was right at least for now. I guess its a mater of are they going for a profit run or just moving the price higher to short again. I was watch the 15M chart and missed my entry on the 5M.
  • #446
  • Dec 5, 2016 5:31am Dec 5, 2016 5:31am
Well, after missing the initial EU run I finally got in to the second leg and out. All though I potentially got out a bit early but it was a pretty good trade so I won't get greedy and complain.

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  • #447
  • Dec 5, 2016 5:52am Dec 5, 2016 5:52am
Quoting Grantmac
Well, after missing the initial EU run I finally got in to the second leg and out. All though I potentially got out a bit early but it was a pretty good trade so I won't get greedy and complain. {image}
Very well done buddy. Awesome trading!
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  • #448
  • Dec 5, 2016 5:56am Dec 5, 2016 5:56am
Hello GRANTMAC,

May you share to us your Pair Changer EA ? seems very good and make our MT4 clean,...

Thanks,

Paolo
  • #449
  • Dec 5, 2016 6:33am Dec 5, 2016 6:33am
The current trend of the trades helps you to determine the momentum is very useful to analyze the support & resistance levels.
  • #450
  • Dec 5, 2016 6:48am Dec 5, 2016 6:48am
Quoting ammy
The current trend of the trades helps you to determine the momentum is very useful to analyze the support & resistance levels.
The full chart template would be nice, very clean and clear, well done
Stop killing our Oceans, Stop using single use plastics.
  • #451
  • Dec 5, 2016 8:46am Dec 5, 2016 8:46am
Quoting budidharma19
Hello GRANTMAC, May you share to us your Pair Changer EA ? seems very good and make our MT4 clean,... Thanks, Paolo
All the indicators are in the zip file in post 1. Its called simply Symbol Changer its actually a indicator not an EA.
  • #452
  • Dec 6, 2016 9:16am Dec 6, 2016 9:16am
Hi Wizlon, I was wondering your current thoughts on this EU consolidation. I have been trying to get a bias using volume but really have no clue at the moment. I guess we need to wait for a break of the range and start trading again.

Are you looking at any other pairs this week?
  • #453
  • Dec 6, 2016 9:45am Dec 6, 2016 9:45am
Quoting Grantmac
Hi Wizlon, I was wondering your current thoughts on this EU consolidation. I have been trying to get a bias using volume but really have no clue at the moment. I guess we need to wait for a break of the range and start trading again. Are you looking at any other pairs this week?

I'm not Wiz, but in another thread, it was mentioned the Fed speaks on the 14th, and things would be pretty (horrible, my words) till then for the EU. Erratic was their words
  • #454
  • Dec 6, 2016 9:50am Dec 6, 2016 9:50am
Quoting Grantmac
Hi Wizlon, I was wondering your current thoughts on this EU consolidation. I have been trying to get a bias using volume but really have no clue at the moment. I guess we need to wait for a break of the range and start trading again. Are you looking at any other pairs this week?
Grantmac, sorry for my lack of communication lately. Silly season is upon us and I am literally snowed under with early mornings and very late finishes.

I have been trading EU on my phone when I can and I've taken long and short positions which I generally don't hold for too long.

Looking at the volume on M15 - I see high volume at the tops of the swing highs yesterday on the way up. I also see high volume at today's high. This could mean short orders are being filled at the highs and longs closed.
There is also quite high volume at the most recent (almost current) low so maybe it will go up again. If it does try to see where the volume is coming in.

Thats what I see from my phone. Hope it helps but if you stick to the entries using the 34 and 55 EMA with the 3 RSI as we have already discussed here you should be OK.

Note: the volume increase at the current low could just be because the US session started so there is a natural increase in volume. Again I will say that I am no expert in volume analysis so we will see.
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  • #455
  • Dec 6, 2016 10:32am Dec 6, 2016 10:32am
Quoting jcat
{quote} I'm not Wiz, but in another thread, it was mentioned the Fed speaks on the 14th, and things would be pretty (horrible, my words) till then for the EU. Erratic was their words
Thanks Jcat, that's good to know.
  • #456
  • Dec 6, 2016 10:35am Dec 6, 2016 10:35am
Quoting wizlon32
{quote} Grantmac, sorry for my lack of communication lately. Silly season is upon us and I am literally snowed under with early mornings and very late finishes. I have been trading EU on my phone when I can and I've taken long and short positions which I generally don't hold for too long. Looking at the volume on M15 - I see high volume at the tops of the swing highs yesterday on the way up. I also see high volume at today's high. This could mean short orders are being filled at the highs and longs closed. There is also quite high volume at the...
Hi Wizlon, sorry your so busy but I guess things will quieten down in a week or so. Probably depends on what you do though. Hopefully with your system you can retire and trade full time soon

Thanks for your thoughts, I have been keeping an eye on the 1M as well and there seems to be high volume at both extremes of this tight range. I think we just need a break out and trade your system as you suggested and we can all be happy. In the meantime Jcat might be right as well and I might start looking for another pair that has some movement. I will continue to post my trades.
  • #457
  • Dec 6, 2016 12:32pm Dec 6, 2016 12:32pm
Quoting jcat
{quote} I'm not Wiz, but in another thread, it was mentioned the Fed speaks on the 14th, and things would be pretty (horrible, my words) till then for the EU. Erratic was their words
Good Advice - it is probably best to avoid EU for now unless you like uncertainty and volatility. I have been managing a hedged order so thats the reason I maintained my focus on this pair today.

Here is a EU M5 chart though to show the importance of key levels. By key levels I mean BNs / BRNs, or whole, half, quarter and three quarter levels. These levels, prices or numbers are natural levels of support and resistance.

The yellow rectangles are just there to draw your attention to how price reacted at some of these levels today. The rectangles are slightly above or below so as not to obscure the candles or levels

Remember Big Money Players like to take price above these levels to add shorts and below these levels to add longs.

The indicator that is showing the levels has been uploaded here already. It is called sweetspotsGOLD.

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  • #458
  • Dec 6, 2016 2:08pm Dec 6, 2016 2:08pm
OK so I said that I was going to be working on the MA and RSI Dashboard that I have on my trading chart. The reason I wanted to work on it was that I was using both and that was too much information; they were providing contradicting information which was not good. Both Dashboards can be used seperately in the way they have already been described but I just want something that is visual, simple and provides actionable information.

Here is where I am so far.

34 x 55 EMA Lights - I am going to keep this as my quick visual overview of various time frame trends. It's that simple. I will never make trading decisions based on that or any other indicator alone. Each time frame can be traded in isolation using the system described in this thread regardless of HTF trend. But if you are trading against the HTF trend then scalping may be the best style - that is up to you.

3 RSI above or below 50 level lights - I aim to use this in conjunction with the 34 x 55 lights. The 3 RSI lights will tell me when we have had a pullback on the various time frames. If you don't understand then read the thread and you will understand.

Lawgirls Trend Display (arrows) - This indicator seems to be hard coded to the 3 RSI which is very sensitive to price fluctuations. This tells me immediate direction on each TF. Read post 11 on page 1 and you will understand how I apply this indicator in conjuncton with the other indicators in the dashboard. The 34 x55 EMA lights replaces the 14 RSI x 50 level lights in this case.

Here is EU H1 with the Dashboard in the top right corner as I have just described. This is what I would consider to be a H1 signal to take notice and maybe check the H1 chart for a chance to go long. (it shows 34 EMA is above 55 EMA. 3 RSI has pulled back below 50. 3 RSI is heading up).

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Here is my template. You will need to adjust the various Time Frames in the indicator settings to suit your needs.

Attached File(s)
File Type: tpl Latest Template Wiz.tpl   179 KB | 393 downloads
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  • #459
  • Dec 7, 2016 12:40am Dec 7, 2016 12:40am
wizlon32 , Whats indicator volume you use?
  • #460
  • Dec 7, 2016 3:26am Dec 7, 2016 3:26am
Quoting Farmazetron
wizlon32 , Whats indicator volume you use?
I use the volume suite from the PVSRA threads. There is another one out there somewhere called better volume 1.5 or something like that that you would find by doing a quick search on Google.
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