I think that volume spike was caused by that nuclear plant in Japan. Some explosion or something like that happened there again.
Edit… I mean that one 5min candle at 2:50 am. That 'caused alot volume in all pairs, but only yen pairs had alot movement. Other pairs stayed where they were. So I totally ignore that one candle that spiked on volume.
EU 1hr shows absorbtion off lows. SM is accumulating…the lower the better, then I expect a nice up move to get in on. Also, look at 1hr fib of last move up.
HAHA i just hit my margin call trading EU/JPY today trading on volumes, not sure if it’s my luck or i did something wrong but i lost over $1000. Anyone have any luck trading this pair? Looks like the wanker bankers got the best of me again.
No i am not saying that, i just like to know what data are those volume derived from? It’s a broker given data after all so is it possible that it’s a volume calculated by the brokers from their own account or it calculates the overall market? If so where do they get these data from? I read through the whole thread…almost, might have missed like 30 or so pages, so if someone can tell me where the volume data come from and how it’s derived, very much appreciated, i seem to see someone debate the validity of the volume bars in previous pages so i am not sure.
2spadger: Gosh, I don’t believe you read even half of this thread. There were many discussions on this topic. Purplepatch also posted a comparsion of different volume feeds. We went through this already. We use Tick Volume, which measures the activity for the particular bar. Some (including me) believe that it can be used instead of real volume which is unknown in forex. Afterall it both measures activity and Pete proved many time that his analysis using VSA was spot on.
If you got a margin call, you have no idea what MM is and you should start from the basics. (BB School)
2Pete:
not this BS again.
Don’t bother with this kind of people. Believe me, there is many many people who follow your thread and appreciate what you are doing even though they don’t post most of the time. Don’t quit
Yep, worked out nice. I’d gone in fairly small though in case things went kaboom over who knows what. Speculators trying to push Yen below 80 are throwing things all over the place.
We got mad pips from that trade with Pete. We waited that trade for whole day.
Anyway… You need to stop listening speculators. Look what volume does. That doesn’t lie. And that doesn’t try to confuse you. It’s not 100 % right system, but sure is more trustable than speculators.
No stopping volume yet, still in the markup phase. Maybe some re-accumulation before it continues up. That volume spike in the middle of your chart shows a bit a re-accumulation took place there.
The reason I went in small yesterday was just because we were in the middle of some pretty unusual trading circumstances so figured I’d err on the side of caution.
Having an idea of where groups might be interested in trading means you can have an idea in advance of where you might see some volume. So for instance on Pete’s chart which has 1.4080 as a TP it’ll first have to get through some pretty heavy sell orders at around 1.4020 and there’s talk of a barrier option at 1.4050 which will be heavily defended. Chances are you’re going to see very high volume if price is getting close to 1.4050. There’s nothing particularly confusing about it - it’s just what will happen more than likely and I find it useful for thinking ahead about what I might do. To each their own!
A bold call sir! Come next Wednesday it’ll be cheers or jeers time. Of course if you’re sure you could slap on a trade now and just collect your winnings in a week’s time. Personally I’m not going to take that one on though