How to determine volume on chart?

Hello everyone,
I have here a chart of NZDCAD (Weekly) and (Daily).

The Weekly shows upward bars with LOW volume. What does this mean exactly?
I’m not exactly understanding why the push upwards is happening.

The Daily shows a NO DEMAND bar but the next bar is a significant UP BAR.

If someone can explain what happened prior that made the bar go up that would be very helpful.

I’ve read the Tradeguider books but personally didn’t help me understand all that well.

Thanks.

1 Like

What volume does this chart show? i.e. volume where?

1 Like

If we could do that bro then none of us would be here. Fact is you can’t explain price action. Nor should you try to. Just accept it and hope it keeps doing what it is already doing.

ok 1st things 1st, volume in daily and weekly, mean very little,

why? you may ask and well asked indeed

well because within a 1D candle you might have different areas of volume distribution, what do I mean I mean that and now that’s where it may get confusing, I mean that in order for you to read where those significant areas of volume happened you need to look at that same 1D period in a more fractioned way, so if you lower to the 1H charts, you will see in that same day 24 candles and 24 areas of volume they will give you a more detailed information of the same volume produced on the 1D, if for example you get a increase of interest in a lower area of that day with a consequent rejection of lower prices then, depending on the amount of volume produced due to this increase of interest and also depends on where the high volume candle closed and what is the reaction to that increased interest, then you may have a picture of where the SM is positioning, and you can assume a probability of price moving in a certain direction.

No demands and no supplies on a daily and weekly are nothing they mean nothing, you need to look into them in more detail, in order words in lower TF, 1h charts are my base of study for background reads.

hope it helped cheers mates.

PS - _bob don’t be so harsh mate, we are in the forums not because we know it all but exactly the opposite we are here because we want to learn, and it’s a shame that most people when they get profitable they disappear and forget that once they were here learning, and that is their time to teach. anyways done and dusted see you later.

1 Like

Sorry if it sounds harsh bro, but I don’t really care. My perspective is you take everything everyone wants to teach about speculating on the spot market, put it on a bomb fire and burn it. Otherwise you will fail and fail miserably. In this game you have to do your own thing.

The fact 5 years on, your here, I’m here, tells me that we must be doing something right even though what we do is totally different. We just view the rubiks cube from opposites sides so it’s only natural we see different colors.

1 Like

completely in agreement here mate :smiley:

you trade your way not mine or bob’s or mike’s or whoever, that’s the thing grab the information, learn what isformation is viable and trusted, study it and evolve your trading method, adapt it and make it your own… if you are just searching for the perfect method that uncle ben used to make fortunes it will never work, because of a simple fact you are not uncle ben :smiley:

it’s true like I said if done properly there are many ways of trading a chart.

cheers mate :smiley:

1 Like

Volume has stronger signals when the price is in an uptrend and is endorsing the upward move, so the volume is moving to the upside. On the other hand, if the trend is bearish and the volume is moving to the upside then is confirming the bearish trend.

HMMM I don’t intend to be harsh here GerhardtW but I really think you need way more study, or perhaps a clearer idea of how tick volume works… that’s not quite right what you just said, it’s actually not right at all mate :smiley:

maybe re-read my earlier post and things may click :smiley:

cheers.

Then I’m wrong about volume too.

I’ve read lots of your recent posts without ever disagreeing with you before, Bob, but I think a bomb fire might be a bit over the top? A bonfire would do the job well enough?

This was a ridiculous comment.

1 Like