Trending & Ranging
Support & Resistance
Retracements & Breakouts
Is this really all there is to it?
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Don’t know bro. What do your book studies say!
They all say the SAME things - Trending & Ranging, Support & Resistance, Retracements & Breakouts.
I don’t think so.
Whilst these things may describe what one could call the “street map” of price movements, some people also place great importance on how many people are actually travelling along those streets, and so volume and open interest are also significant factors.
I noticed that you posted this under the heading including candlesticks and patterns as well as price action. Of course there is also the analysis of many different candlestick and pattern setups.
But all these are “external” issues, i.e. ones that are going to occur whether you are personally involved or not. What is more important to you as a participant are the “internal” issues, i.e. your entry/exit criteria, position size(s), timeframe horizons, pyramiding, scaling, risk managment, equity management and so on. Issues that define your personal scale of success/failure compared with that of the other travellers on the same highways…
There again, some claim that the Hokey Cokey is what it is all about,
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Yes, that’s all there is to it.
The crime of many writers, trainers and systems vendors isn’t that they won’t help you make money, its that they dress trading up as either some hyper-complicated science or a black art that can only be learned by an 10-year apprenticeship in some black arts of price manipulation.
As you mention trending, long-term trend-following is about the easiest approach to trading and I recommend it to every beginner.
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You are talking about price based analysis
There is 2 more aspect that is hard to master.
- psychology and discipline
2.Time based analysis ( Time marker/cycle )
The guru’s would have you think so. I wish it were that easy. I would challenge you to read the book Trading Trends by Al Brooks. It’s the first in a series of three. It’s highly technical and goes over every nuance of trading from a scalper’s perspective.
With that said, I find for myself, it is much simpler to trade the higher timeframes, probably because I don’t have to try and navigate intra-day volatility.
But that’s all part of the fun, certainly keeps you on your toes…
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It was my understanding that volume information wasn’t available to retail FOREX traders. Am I wrong? 'Cause if I am then that makes a HUGE difference.
Hello Ph, tick volume, on your hub only, virtually worthless. No central exchange, no central volume.
The Ever No Volume VIPER
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There is no overall volume data available directly covering spot forex because, as Viper says, there is no centralised market or exchange. But there is volume data on the currency futures markets which is used by currency traders wishing to analyse price on this basis. I have never used it but I guess that data is available via a futures broker, maybe even at a price?
I remember that Lexys moved her trading from spot to futures and based her trading on constant volume bars? She claimed her results improved measureably even using the same trading method. If you search “Lexys” and “volume” you may pick up some of her earlier posts on this?
There isn’t a need to know when there will be high volume because everyone already knows during high impact news hour, volume will be high. Almost every market 1st to 3rd hours after market open, volume is automatically high.
Asian open GMT 0000HR
European open GMT 0600HR
London open GMT 0800HR
US open GMT 1300HR
Certainly, it is important for many methods to identify active market times. I remember that Clint posted some interesting facts on busy periods and overlaps in the various time zones. But this is also a consideration of volume albeit not numerically formulated.
The OP asked whether there is more to it than:
Clearly, volume, whether quantifed (futures) or just identified in terms of specific busy market times is an additional factor that can be considered when implementing certain trading styles.
I see what you mean. Yes, i think specific busy market times is an additional factor. Especially so for intraday trader. To further expand on why i think so is because, in my humble opinion, during busy market times, market tend to trend and is more suitable for swing trading on a lower timeframe chart, namely 1min or 5min chart, perhaps tick chart as well.
The main idea i want to express with my post earlier is to tell the OP there isn’t a need for volume indicator specifically, not that volume is not an important additional factor for consideration when implementing certain trading style.
Thanks Manxx, for pointing out the inadequacies of my writing expression.
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There was no inadequacy at all. You really helped to expand the understanding of an additional aspect to appraising price. Thank you for that. 
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I’m really glad to see that you think i have contributed constructive ideas here. 
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Trending & Ranging, Support & Resistance and Retracements & Breakouts these things are called “street map” of price movements. You will find many traders in the market who put importance on how many people are currently travelling along required streets. For me these are not under main candlestick and patterns. These are optional subject. I give importance on entry & exit, size of position, time frame, scaling, risk management, equity management etc.
You are talking about technical analysis; there have also two more analysis! Fundamental and sentimental.
I’m reading Bob Volman right now. I’ll put Al Brooks on my reading list. I’ve seen his stuff before, and hear it was well respected. If it’s the same stuff I’m thinking of, it has a reputation of being difficult to understand.
steve, what’s your take on Forex Patterns and Probabilities by Ed Ponsi?