I hope the force is with me today. 
Iām probably off to bed nowā¦cya.
First entry was hit, out +40.
Second entry canceled.
A hint of sellers as volume was fairly high to end the up move in NY. I have a fibb and upper trend line confluence marked where sellers might come in, so Iāll be watching the volume and candle reaction to that level to consider a short. At this point Iām open to any direction and have to see what it tells me.
I thought I smelled sellersā¦took a rare breakout trade as buyers didnt show up at support with selling building up in the background. Banked some profit, locked BE, and probably letting it run to about 1.2260, .50 fibb.
how do u draw the trendlines? manually?
Iāve been personally 
looking after your trade while you were sleeping.
It was a news that made it spike under the 50Fib.
And pretty much screwed all my thoughtsā¦ and analysisā¦
Soā¦ I was watching EURUSD and AUDJPY for entry now Iām not sureā¦
Waiting for test with high volume at 50Fib EURUSD and 61.8Fib AUDJPY.
Nice day to everybody.
Now AUDUSD is entering love areaā¦
A nice red bearish pin bar appeared right at resistance (previous day high), supported by the highest vol of the day (5M).
Now itās retracing.
So much buying went into rallying up to that point that Iām pretty sure weāll see our friendly pair ramp even higher.
Target for serious reversal is around 0.8689.
Not sure if it makes it today.
So, Master, did I get it right?
Yes I draw them manually. Simply connecting tops and bottoms. Iād say 90% of the time, trends move as a channel and you see the highest volume as the pullback hits stopping volume to continue the trend.
For the most part you can usually draw an up channel, down channel, sideways channelā¦if not then you would probably see a pattern such as double top or head and shoulders.
The volume and candle reaction to these drawn levels, combined with fibb levels which often have confluence, give the clearest picture of buy and sell interest.
Hey zzmadd, sorry for the late response. I couldnāt get to a chart until now. I think your saying you spotted the reversal comming off the high today for A/Uā¦nice job. Would be very helpfull if you could post charts with your analysis.
I agree, there was not enough of a selloff there volume wise, that would make me look to short it but I do have 61.8 fibb there on the daily.
If sellers were going to take it, should have been much more sell volume at the tests of the high. My guess is there going to dip price down some more to gather up more buyers, and have an easier time breaking that resistance. Perhaps at the levels I marked.
To simplify my point. Since there was not a hi volume selloff at resistance, I would look for the retrace down to hit large stopping volume at a .50/61.8 level, and/or a support level, then enter the long with tp at that resistance level, and trail some of my position for the possible breakout up.
Due to correlation, my A/U analysis also applies to EU at the moment. It hit .50 fibb retrace of last 2 days move up and showed me some buyersā¦enough for me to take the long, small positionā¦I better keep an eye on this one.
I locked break even early on this because it wasnt the greatest setup. Iāll pick off profit along the wayā¦just a scalp.
I just came back to the charts and saw this long setup. Went right into profitā¦banked some and locked BE.
Closed most of my position around target +24, but left a third of my position on locked BE. Going to .50 fibb! ā¦hopefully. 
The reason I was able to get in at such a low price was stopping vlm appeard on the 5min before the 15 pin was done formingā¦price was bouncing like a ball off that support level on high volume as the buy orders flowed in.
edit: Out BE on last third, was worth a try though.
Thanx Peter,
AUDUSD
I was looking at yesterday.
There was very high UP vol stopping the descent and on the way up.
Then once the top was reached some strong DOWN vol entered and pushed it down.
I didnāt expect to make it go to the 50Fib again with such a move.
Now at 50Fib the reaction has been tiepid.
The market is still in the process of deciding what to do.
If I had to bet Iād bet it retraces more, to around 61.8Fib.
Also because if it goes higher it has to deal, as you said, with some sell orders around the āMay10 High to May25 Low 61.8Fib retracementā at around 0.8689.
So now letās see, it seems weāre going lower firstā¦
I agree, itās a mixed bag right now. First hour of london usually shows alot.
I did however take that GU break down just now for 25 pips. The lack of increase in buy volume seen clearly on the 5min chart, as it tested support 1.4684, made me confident in the breakout short scalp.
Only if volume is higher than recent rangeā¦
Is the price action and vol at the bottom of GBPUSD something to play long?
Even though thereās 2 red stops with high vol that wouldāve me going out.
Also, Iām noticing something:
The effect of money buying or selling on a candle is seen a few candle later.
Look for example at the stop to the down move, it had effect a few bars later.
Interesting.
GBP started descending yesterday night, but in a subtle way.
Itās like something that is working in the background silently.
At the top there was mild volume and so on during the descent.
AUDUSD was a much more visible reaction when it touched the top yesterday.
mmmmmmmmmmmmmm
But youāre right there has never been much interest in buying too.
I lost the move. I somehow regret I didnāt take the AUDUSD down move, but this oneā¦
So far yes, the highest volume is buyers off the support and that suggests longā¦but if volume reaction to this fibb, which is the old support area, is even higher, then the short would be in play.