Thanks man! I tried to use volume on UWC Bank! but there it’s very unreliable! Does IBFX use 5 numbers after .? (1.29345 for ex.)
Yes they do. In the meantime, you can get a Gomarkets (gotrader) demo. That was my main source of volume before I switched to IBFX. Reason for switching, Gotrader had some price data missing for a few days…gaps and very low volume. (happens with all mt4 brokers on very rare occasion) and my results with IBFX were good, and I got used to it.
Right, and the bullish reaction confirms it. I was referring to both those points you correctly marked.
So, we finally have what looks like a stopping volume on 1h. M5 is a total mess, but m15 makes it quite clear with a highest volume of the day perfectly matching 1h. Will be looking for NS bars or break above AR level with a confirmation, but I get a feeling that SM not done yet and we might see a final push to 1.2860 just like Traderjoo predicted. That would be great!
I think what we want is a Low volume test of support then an NS for an entry.
Here’s my take now from 15m, I reckon we are hitting double bottom, we have the highest volume, Ok it’s a big spread, but large spike, volumes are getting low, are we testing support? probably. Go Long on an NS.
Looking at the 5m, the story is the same.
Let’s see if it reads the script?
Or maybe wait for the push through supply if we want to be super safe? 
Yes, but looking at the 1hr chart, same thing…
Inside Close on the 1HR, could well be bottom here.
Aye, there is always one more, surely the market isn’t bearish, far too much buying into lows no?
Deja vu all over again lol. Last year the first week in Jan had a large down move that seemed to come out of nowhere. In fact it was looking very bullish just before it. Then look what happened. …patience.
Well, my chart didn’t show any NS or push through supply, so by following the rules I avoided going long too early… The background is strong tho IMO.
Gee wizz, I can’t remember last month, let alone a year ago!
Ok, I have a potential NS bar on the 15m, so a close above 1.2845ish, could be long, but there’s not much time 'till news, might well wait until after the ISM Non-Manufacturing PMI.
A potential setup, but not the greatest.
It really stuck in my mind because the end of 2010 had shown a lot of accumulation, so the down move didn’t “make sense”. But it only lasted a week then trended up smoothly for 4 months to follow. Seared in my memory lol.
Was it big shake out, that shook you up and seared it?
That move was around 500 pips, so that means we’re only half way through and a bottom of this markdown should be 1.2400ish.:o
LOL, LOL, if only it were that simple, we still have a potential NS on the 15m, but I’m getting less convinced by the minute.
Yep, that gave me another notch of experience that stuck with me. Let’s see what news does in the next hour. If it’s bad and price reacts bearish initially, it could mark a bottom…you know how they do.