A brief share, questions around volume, any contribution welcome

emeraldorc · February 8, 2015, 7:39am

The point was well made, which is what counts. I agree, just on Thursday, I did a newsletter saying Gold would go higher to 1345 at least, it got published today and Gold is flat on its face.

I do think the bull trend will return because on a weekly out look of Gold we are in the mother of all corrections. So I think we could see it go it lower before going higher.

As we can see on the weekly, we are in bear territory almost, so this is a make or break moment for the bulls, H1, 15M, 30M, D1 have all been closed out. So Monday will be a big day.

The Green Volume bar was dead accurate on calling the top. The Red volume bar was the major bull commitment and is a major area of agreement to buy. A good place to cover. We have to understand sellers have not committed to the sell off, so I want to see sellers come in and sell Gold. So it was a calculated risk on my part.

What do you think Pipme?

PipMeHappy · February 8, 2015, 7:46am

Hello Emerald and Liberty,

I must say, I have not followed Gold’s price history, ever… I could go off and draw lines on a trend for XAU/USD but it would mean very little!

What makes me curious, however, is the use of coloured volume bars: what do the colours symbolise?

CHeers

emeraldorc · February 8, 2015, 8:06am

Volume Climax Up - Uptrend start, Top, Down trend continues - Red
Volume Climax down - Bottom, uptrend continues, Start down trend - White
High Volume Churn - Bottom, Top - Green or Dark Blue
High Volume Churn + Climax - Bottom, Top - Magenta
Low Volume - Top, Bottom, Uptrend Continue, downtrend continues - Yellow
Normal - No volume signal - Cyan

That’s it. You have to obviously read it in connection with the price action.

Makes life a lot easier.

PipMeHappy · February 8, 2015, 8:13am

Thank you, Emerald…

I think I will stick to my single-coloured volume bars for now

emeraldorc · February 8, 2015, 8:23am

They do the same thing so no harm buddy.

This just allows me to glance at more relevant volume changes. I needed somethingh like this especially for reading volume on the daily, as we know this is still an area of contention.

emeraldorc · February 15, 2015, 9:13am

So Cable moves higher appears those sellers came in at 1.5424. I think we will get a pull back come Monday.

emeraldorc · February 21, 2015, 4:17pm

My latest upload on youtube. All my intraday moves last week. All good this side. Hope you are all enjoy trading. Anyway, enjoy this video on volume price analysis.

PipMeHappy · February 22, 2015, 2:21am

Morning!! How are you? I agree, the Cable did nothing since that Quarterly Inflation Report push up a few days ago…an accumulation phase, or a stall? Well, the US Dollar’s push higher has stalled, so I believe that the Cable’s strength is due to US Dollar weakness (with the strong possibility of a correction lower), because on that bull day the Pound did not perform bullishly in a uniform way across Pound pairs… Also, UK core economic figures are not exactly stellar (we are at risk of deflation), so Carney, like Yellen, cannot push for rate hikes just yet: therefore, the Cable’s lack of follow through to the upside is indicative of a lack of renewed rate hike speculation, and that last year’s Pound rise, like the US Dollar’s rise in the last seven months, is a sign that the markets have already priced in a hike from both banks, so in a way there is now an equilibrium: is the Fed more hawksih than the BoE? The March FOMC meeting will be key to give an insight into how close they are to a rate hike…

PipMeHappy · February 22, 2015, 2:47am

‘Boom’ ‘Boom!’ ‘Bam!!!’

You make trading sound very exciting indeed!

Nice, clear video… Thank you for the time spent explaining volume-price connections, and for the Trading Economics website tip.

Good luck!

emeraldorc · February 22, 2015, 8:41am

You have to let me off. It is my wild side. It was Saturday and it is my birthday today, so some exciting that I notched a another year and had a stellar week my educational webinars also brought in the highest number of attendees since I started. So a job well done.

Don’t worry more next week, might not be so exciting, we shall see.

emeraldorc · February 22, 2015, 8:47am

PipMeHappy:

Morning!! How are you? I agree, the Cable did nothing since that Quarterly Inflation Report push up a few days ago…an accumulation phase, or a stall? Well, the US Dollar’s push higher has stalled, so I believe that the Cable’s strength is due to US Dollar weakness (with the strong possibility of a correction lower), because on that bull day the Pound did not perform bullishly in a uniform way across Pound pairs… Also, UK core economic figures are not exactly stellar (we are at risk of deflation), so Carney, like Yellen, cannot push for rate hikes just yet: therefore, the Cable’s lack of follow through to the upside is indicative of a lack of renewed rate hike speculation, and that last year’s Pound rise, like the US Dollar’s rise in the last seven months, is a sign that the markets have already priced in a hike from both banks, so in a way there is now an equilibrium: is the Fed more hawksih than the BoE? The March FOMC meeting will be key to give an insight into how close they are to a rate hike…

Well you are right. Buyers are still in control. Look at that daily chart. 1.5496-00 a huge possibility but we are coming into that structure.

FxPro GBPUSD D1 qXkwn | cTrader

emeraldorc · February 22, 2015, 8:50am

[video=youtube_share;o-kOPu6nlhQ]http://youtu.be/o-kOPu6nlhQ[/video]
Lol!!!

Love this guy. Ex special ops and he just tells the cold hard truth. Very descent trader. One of my clients has been to his trading room so we had a long chat about him.

PipMeHappy · February 22, 2015, 6:20pm

Ha, yes, I saw him before… Good stuff…

PipMeHappy · February 22, 2015, 6:22pm

[B]Well, happy birthday, then!!!

YouTube [/B]

PipMeHappy · February 24, 2015, 5:26pm

A lot of talk, today, but very little action:
Session Recap: USD little changed after Yellen testimony

Libertysilver · February 24, 2015, 8:46pm

[QUOTE=“emeraldorc;684482”]http://youtu.be/dVYlX4zlNTQ/ My latest upload on youtube. All my intraday moves last week. All good this side. Hope you are all enjoy trading. Anyway, enjoy this video on volume price analysis.[/QUOTE]
Subscribed!!! Great video!!!

emeraldorc · March 1, 2015, 4:44pm

[video=youtube_share;0uyUsAdqfCM]http://youtu.be/0uyUsAdqfCM[/video]

emeraldorc · March 9, 2015, 10:56am

https://www.tradingview.com/x/8S7ymNtF/

Looking at GBPCAD, fibs continue to cluster at the 200EMA looking for a good risk reward opportunity in that area.

By the way Pipme, I did end up subscribing to tradingview, they finally got tick volume as they have 2 feeds. So all good. Unfortunately my analysis is on the old feed so npo on this shot.

PipMeHappy · March 12, 2015, 4:06am

Hi Emerald! Are you enjoying TradingView?

Did you happen to see anything exciting, on your charts, for equities, for example?

I was a little wary of going short, pre-RBNZ yesterday, even as the pair had gone down
from 0.75 to 0.72 since last Friday’s strong NFP print; sure enough, big buying volume (250m units) came in on the hourly chart as RBNZ’s rate hold and downgraded inflation expectations hit the wires…

This is what happened since:

So now I am just waiting for either a

a failure of the rally at 0.74, or even higher

at 0.75: fundamentally, the NZD has weakened

its monetary policy outlook considerably, and

its US counterpart has taken the opposite path.

I am short in my bias, but having to wait a little

longer, probably until next week’s quarterly FOMC

policy update…

How are your Sterling positions looking, if any?

EUR/GBP seems to have stalled

between 0.70 and 0.71 for the last three days…

emeraldorc · March 12, 2015, 2:16pm

PipMeHappy:

Hi Emerald! Are you enjoying TradingView?

Did you happen to see anything exciting, on your charts, for equities, for example?

I was a little wary of going short, pre-RBNZ yesterday, even as the pair had gone down
from 0.75 to 0.72 since last Friday’s strong NFP print; sure enough, big buying volume (250m units) came in on the hourly chart as RBNZ’s rate hold and downgraded inflation expectations hit the wires…

This is what happened since:

So now I am just waiting for either a

a failure of the rally at 0.74, or even higher

at 0.75: fundamentally, the NZD has weakened

its monetary policy outlook considerably, and

its US counterpart has taken the opposite path.

I am short in my bias, but having to wait a little

longer, probably until next week’s quarterly FOMC

policy update…

How are your Sterling positions looking, if any?

EUR/GBP seems to have stalled

between 0.70 and 0.71 for the last three days…

Hi Pip, MSFT has been a good short for sometime. Advised on this trade, I got an invite to Edinburgh…

https://www.tradingview.com/x/Q1De9vz5/

Trading view is great. They got volume so I subscribed.

https://www.tradingview.com/x/9Qk3JC1r/

Yes! Another great Cable trade. My best for the past 2 months 109 pips, it seems to be resting. Americans love buying their own currency so seeing Cable struggle at 10-11am I knew this was a good trade. Entry was 1.5010 (So damn happy with myself). Had a feeling NZD was a bit weak seeing the Aussie held off the Dollar onslaught till late NY. Just needed instinct to tell me NZD is being sold off against it.

Good day. Hopefully tomorrow yields. Setting up a live trading room soon. More info coming… Can’t wait!