See the high vlm and wick during the down move…that’s buy pressure. Now im looking at the sell pressure at this .50 .61.8 fibb reversal area and upper trend line confluence.
I see… im with fxcm … i cant find the volume indicator. But i got it on the mt4. Well im gona wait… i think it will go higher. But maybe it will go to 13600 like u said haha;)
Right click your chart and click “show volume”. Yep, the higher the better…I think we might get it and I can reposition a bit.
Yea found it lol… thanks.
Yea i think it will break 14100 today… maybe im wrong
How do you trade…what makes you think that?
I use a parobolic and macd method, works out really well. WHEN i stick to it. Thats what im finding the hardest, being disciplined and sticking to the plan and not binge trading etc.
I havent a technical reason for me saying that. Just pure gut instinct and the way its been trading continually for over 2 months now. Dollar just doesnt seem to have any life in it. The reversal last week got all but wiped out in a day… just seems everyone is dumping the dollar. SO i think we will see much higher levels than right now before any kind of significant reversal.
Everytime i see a patern on the daily or the hourly… that indicate a reversal, it doesnt happen, so i just expect it to go up and up and up and up lol…
Yep…DISCLIPINE! You have to open your charts everday and say “I don’t have to take a trade today.” Then wait untill that point where your method is SCREAMING for you to enter. …and keep busy, don’t just stare at the charts. That helps me.
If you have a decent system…including Volume should raise your success rate …alot.
Eventually you know that buy no matter what stuff is going to end…I think it’s now lol.
I wish i could install that mentality mate… i really do.
What ‘buy’ could end lol ??
The noobie traders who just got into forex in the last couple months, and think they can’t lose by buying e/u and biting their nails…I dont think it’s gonna work anymore.
Haha i like that… u seem convinced this is going one way… down…
The daily says it all. If you were looking to sell high and buy low, as the big money does, what would you be looking to do? You have to think like them. This chart has the look of…“your going to miss your chance to sell up here”. Maybe a buying climax…but that should be it.
Serious pal… i appreciate the information. Would like to know more about your trading style… seems detailed and specific.
We will see… still a long ‘old’ way down to 13600 haha…
I yanked out some more profits at +84. Still have 1/3 of the trade running locked at BE. These wide spread, wicky high vlm candles are spooking me a bit.
hmmm i cant make it out … i need to know more lol… i doubt a drop like this can sustain. As i said push towards 14100 coming up haha.
Yes a long way, but worth leaving on the rest of this trade with no risk and see if we get there.
I banked enough to be ok with my break even getting hit on the rest…and could be a great payoff.
Who really knows that far ahead though, I take it day by day with a flexible plan.
Now fibb comes into play. Red area is “reversal zone” .50 to .61.8 fibb.
A high volume bounce off there and we’ll likely go up, but if we break it to the down side I think it’s all over.
Yea thats the best way i guess. COngrats on your good trading day. I see the small wicky candles are building up on the 15mins chart…??
See what i mean… the reversals just never seem strong enough or long enough. Run out of steam overly quick
Not expecting much of an up move here because…
Thats a good way of looking at it… where did you learn this way of watching the market ?
A few years ago, the use of Volume in Forex found it’s way into the forums from guys like Macolm and Dr. Geppy. (Malcolm will be so happy that I finally give him some credit, lol…but credit is due.)
At first it was debated that it would even work, because we are looking at tick volume…price change activity, not “true” volume.
I went through alot of trial and error…but made it my mission to understand the charts, and not just trade off indicators. I really wanted to know what was going on.
Simplest way to put it is to look at obvious s/r and fibb levels and see the reaction. Always thinking…buy low, sell high. It’s all based on that.