Guys pls I need help

Am on chart patterns and bullish and bearish rectangles! I found this word volume, I couldn’t understand what they were trying to say!

What is volume in forex trading??

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Hope I’m right sir

High activity buying ,selling or both

Particularly news anoucement s , or first 40 minutes of USA / GB opening ,or a strong conviction for buy or sell

Volume is more important as guidance to traders in stock market trading than in forex. If you’re a new forex trader, it just isn’t something to get deeply involved in understanding. Price is the key to your decisions.

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I agree. For some reason, the question of volume never comes into play in forex.

I imagine because foreign currency is also exchanged as part of international business, not just investing.

Whereas with shares, it’s generally not the case. What do you think?

Volume on FX is order flow that moves price action. Which is very useful when either high and low.

MACD 3 -10 16 set up will show on the histogram where volume high or low is moving with every candle. An ideal entry and exit signal. Test it out.

it’s a count of the volume-summation of all transactions taking place at each price-level

for trading spot forex, the key thing to know is that because it isn’t a centralized market, there’s no way of knowing what the volume is (it isn’t recorded anywhere, as it is with stocks and futures)

the only “volume” figure that any broker can give you is their own volume (which is of very limited, if any, value at all to you)

there are some people (i think not many) who trade spot forex and look at the volume of the corresponding CME currency futures (when available) as a guideline, and that can perhaps be helpful to them, but then again people looking at that are mostly trading currency futures anyway, not spot forex

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Hope this helps.

there’s nothing factually wrong on that page, but it’s TERRIBLY misleading because it doesn’t stress (doesn’t even mention!) the essential points that for trading spot forex, because it isn’t a centralized market, there’s no way of knowing what the volume is, and that the only so-called “volume” figure that any spot forex broker can give you is their own volume (which is of very limited, if any, value at all to you)

without understanding these two points FIRST, anyone reading that page is just going to get more and more confused, and waste more and more of their time on something that is neither relevant nor helpful to them, though they won’t understand why

In forex trading, volume refers to the total number of currency units that are traded during a specific period of time.