There you have… 301 Moved Permanently
Good morning Pete 
Hope to catch some actions after I’m home today :21:
It’s somewhere in this thread. Along with Willy Wonka’s golden ticket! lol
More weakness appeared around .4224 … Weak hits just got hit … Looks like the herd is jumping in short again
Waiting for short reaction at .4230 area and long action around .4200 area … Lets see whose in charge!!
GU looking weak here…not a bad start for an entry to scalp down to 1.6290. As I write this, 5 min gave no demand, I’m in short.
Better pic…
And here it is again!
I have quoted EnPoint, since I’m pretty sure he’s made an assumption here that this is a kind of ‘indicator’ like ‘Better Volume’ or something, but it isn’t, all it does is illustrate where the trading sessions start.
EnPoint - Great sense of humour though - essential for trading NOT?
But on a more serious point, I mentioned the other day about using Oanda, this is the reason why - just look at that stopping volume! I decided against it a couple of weeks back, but on revisiting with more understanding it seems it’s worth considering.
SessionVolume.mq4.zip (2.77 KB)
I use to clutter my charts with vertical lines. It cleans up my chart a ton. Not essential for trading but a quick reference point.
You have to have the vertical lines though - they are called candlesticks! (Oh I cant find the right smiley anymore! - What’s going on there?)
Right, back onto some serious stuff, this is what I’m on about again, on Oanda the last volume really stands out compared to IBFX, from my observations it makes trading easier, but the jury hasn’t come back with a definite verdict as yet, but take a look and come to your own conclusions.
Oanda
IBFX
1HR EU doesn’t show stopping Volume yet, but SM is distributing some. Their computers are taking bits of profit everytime price moves up a bit, absortion. It’s very precise. It’s obvious were watching computers at work. When herd demand is finaly gone, it should drop nicely for some retracement pips.
I bet we’ll see under 1.40 before the end of the week?
Without stopping Volume on the 1hr, very unlikely imo.
I agree, but so often with the ‘psych’ levels it drops back, or could we be going for the big 1.5000?
But as you say ‘without stopping volume on the 1hr’, trade what you see not what you expect.
Which brings me to what’s been bugging/nagging me over the last couple of weeks, which is, dare I say it, is it possible to come up with a flowchart for this strategy? It might start with, 1. Wait until volume spike on 1 Hr chart, then 2. Check for Fib levels on 1Hr and 5m chart, and on it goes, a kind of open source trading strategy for Forex.
Good idea? Or am I still looking for The Woolly Grail?
Risky due to lack of stopping Volume on 1hr, but the retrace setup is this right now.
Sure, not a bad sounding idea. You know how these things are…more complicated once you start getting into it, but worth a look I think.
Always is, but I was looking at a strategy a few years back in ‘the early days’ and it kind of worked from what I remember, but I think it needs a thread all of it’s own, and also a really good focus on the subject, I’d love to start that thread, but in no way am I on top of the subject enough to do so.
5min chart kind of shows a H&S and there is some high volume, could this be the short?
Demand still sits around 1.4234, setup is as I posted. Close below there is retrace time…lack of buying.
In the end I took a long off the highest volume of the day, only a few pips as it turned out, but I’m getting such good entries from Oanda volumes, and I really should be more relaxed about my stops.
Trade what you see, yes?
Indeed. I closed my short and went long there. Highest vol of the day, 5 min pin at 61.8 followed inside close, in the direction of phase. Text book. Took off half here at resistance and BE. Looking for one more climax up before we kick off the real retrace.
Would be nice if someone pointed out the no supply candle on 5 min for that long entry. Enpiont? 