I am very bullish on the Aussie. I think long-term, there is room for growth. We may see a bottom but the more I look the more convinced I am the downside is over.
Greetings everyone . this is my first post in babypips. This has been my third week doing forex. I finished reading through the entire syllabus at babypips school . very interesting indeed. I dint have any system to go by in demo ACC. Soon I traded on cowabunca. I follow up with cowabunca but I did some minor changes to the tf. 1h for main trend and 1min for my trading . as a newbie I didnāt know what those stoch , RSI , EMA and mcad really are. I just follow the rules. My trading is fine for now but I still have trouble with the risk/reward. All those I mention , believed to be laggin indicator. Simple reason as, most of the time the system gives the all go green light to trade. After a reversal candlestick had appear. So to me. Candlestick is very important to me. Only problem is , isnāt 100% that after a good reversal candlestick had formmed with the system align. Would I get a high probability to win the trade. Hence I was looking for another indicator. Something which isnāt a laggin indicator but show what happens with the current time. Found this thread after searching all around the forum in babypips. You guys are great . thanks man . I currently reading the anna cullingās book, chapter 5. Hope to learn more.
Happy trading .
Glad to hear that you have found Emeraldās thread useful!
Anna Coulingās book is useful, indeedā¦ Remember that another way to look at forex volume is through currency futures, either through the (lagging) C.O.T.
report or live on the chartsā¦
Currency futures are USD-denominated, however, so if you were trading crosses you would only get the equivalent major, for example the COT report will only give GBP/USD contract figures, rather than any other GPB pairā¦
Thanks pipsmehappy for tips. May I know where can I look for resources , article or books regarding using currency futures as volume indicator . more precisely, do you have any good recommendation for me to study this ? Thanks
Hi!
Well,you could start with thisā¦
FX Daily Exchange Volume & Open Interest
Oanda use some of the CFTCās COT report to produce a handy graph every week:
Here is an example of what the currency futures COT report looks like:
CFTC Commitments of Traders Short Report - Financial Traders in Markets (Futures Only)
Also, read here how to interpret the report:
Daniel (Emerald), is there anything else that you could add or suggest regarding currency futures volume ?
Tick volume is just as good, and maybe it is a better proxy for trading activity, than real volume. Only thing is, your tick volume data has to come from a proper source. The biggest brokersā feed or eSignal does the job.
You are looking for the activity. Volume equals activity. But they can tamper with real volume, and they actually do, because they want to hide it as much as they can. Because smart money knows how important it is for trading.
They canāt tamper with tick volume.
Thanks pipmehappy , really appreciate it .
Centralised futures volume has no reason to be hidden, though, and is more reliable than retail volume for size and sentiment, so I agree with you on the usefulness of tick volume but would also look at COT reports to better gauge wider speculator sentiment (beyond the retail trading world)ā¦
Just to stress the point about transparent volume in currency futures, read this:
āCentralised futures volume has no reason to be hiddenā
Are you sure about this? 
āis more reliable than retail volume for size and sentimentā
Are you sure about this?
I know nothing else about trading, just price and volume. I donāt care how anybody trades, I only say, that volume is highly underrated and very unknown part of trading. And it is not a coincidence. 
Above a certain size, real volume can be withheld by the exchanges for a given timeā¦they tell you a bunch of stupid reasons why they do that. In reality the less you know about volume, the better for them.
I only say, donāt disregard any volume tick or real. But it has to be known, that real volume is easier to tampered with. Exactly for the reason, that it is centralized. Lot of people would think otherwise.
Whatever, point is, keep an eye on too high, or too low volume, let that be tick or real.
I agree with thisā¦look out for extremes, as a measure of a possible turn in sentimentā¦
Hi all, have some questions here, hope to hear from you all in this thread.
Vpa which stands for volume price analysis, is basically using the volume to validate the price action. in particular, for this example lets use the morning/evening star reversal patterns.
if the trend is heading upwards, suddenly evening star candlestick pattern has appeared. we will assume the trend might head downwards from here. most of the time is true. sometimes it goes down a tad bit sometimes more.
now we look at the direct relation between the volume and price action of the three candles which formed in the evening stars. if the volume does not stack up to the effort of the spread/body of the candle. result of this will mostly likely a short lived out come. means it is not a valid evening star to say the least. I hope Iām making sense?
I just started reading anna coullingās book, on chapter 5. so this is where i come from. and also from this thread. also, having a hard time to digest the accumulation phase , test period, multiple test period to distribution phase. also the analogy of this to how a wholesaler operates. so yea this is where Iām coming from.
good day & happy trading
This is what Iām saying Joe. This is how I trade and make a living. VPA (originally it is called VSA, Volume Spread Analysis), which is derived from Richard Wyckoffās Tape Reading Method. It is all about volume and price relation. You canāt really go wrong with any of these strategies, trust me (they are about 98% the same).
But I guess since PipMeHappy has more than 3000 comments and he is here all day, he must be right about volume. Who am I to question him?
Szia 
I agree with youā¦
The discussion is open to allā¦ I am no expertā¦ but I am, like you, interested in volume as a meaure of sentimentā¦
However, my positioning is over many months, so I only use the COT report to monitor sentiment changes over timeā¦ Intraday VPA is great, I just donāt use it because it is not in my trading style, but yes, it worksā¦As Couling said, though, VPA is more of an art than a science, so it is not always easy to read candle-volume interaction at firstā¦it takes practice (and it can still wrong foot you)
Thanks for both your replies. Vpa is interesting to me simply because I understand with my limited knowledge that price , time with the volume would tell a story . is more of an art. I like that
You are welcome, Joe ā¦