Research this fella and read through this thread, The VIPER Couch
A quick quote from one off his posts
What is your point?? I am fully aware that there is no central exchange in FX and I am fully aware that the use of volume in FX trading is nothing more than a guide at best. So you are telling me nothing new. I don’t know if you know the difference between volume and volume at price. I have posted a chart of the EUR with volume at price bars on that chart. Where there is the strongest volume is called the point of control and it is normally where there has been or is accumulation or rather consolidation of price and you can be sure it is a point of high liquidity.
Having said this it is again only a guide but viewed by me as a point of interest and I will watch price action at that area for potential trades.
One thing that I will say is I find it strange when traders say I don’t want to reveal my trading strategy or the way I trade for fear that someone will copy my trading style and steal my edge. This is nonsense. I don’t care who I tell about the way I trade because I can tell a dozen people and I guarantee that they will not be able to make money because they don’t see the charts the way I do. I am a discretionary trader and I see what is happening and know what is going on. That takes a loooong time to learn and even then some never learn that skill. Having said that I don’t always get it right and that is just trading.
In regards to Wyckoff, Wyckoff is a very old style of trading that has stood the test of time. But it was designed for the stock market and it is very affective. It can be used on commodities but I give it little value with the Spot FX Market.
I will say this. Who cares how people make money in this game. I certainly don’t. What works for some may not work for others. There is no right or wrong way to trade. You just have to know how to trade successfully.
Blackduck
1 Like
Well said @Blackduck , but again i would ignore the other guy. As you can see his only thing he can say and bring is volume is not real on FX and from the beging no one said it was real except that its a guide to see what is happening with price, but anyways @blackduck keep it up and trading suites everyone differently as you said.
1 Like
Hi again on Election day Volume bars with Supply Demand Zones and No Demand or No Supply come through, a quicker drop then expected at this supply zone that i will show.
Also all the smart money was talking about yesterday was price stay where it is or go higher, but charts show otherwise with volume bars.
PS. i am showing my Instagram link so some don’t think i am posting after the fact, but i did post as it was happing. https://www.instagram.com/p/CHJcwsLF5NX/?utm_source=ig_web_button_share_sheet
Also this was my analysis on it yesterday from YouTube i posted…
1 Like
I too believe that our trades are somehow based on historical data. As long as you are reading price action, you can be right.
I think this is a very good analysis, it’s more fruitful than simply looking at price and trading. However I feel if this would coincide with supply or demand zones, it would give a more clearer indication.
People and even machines are moving in cycles, so those cycles will repeat and you can spot them. I made a video on my Youtube about what Gold did in the month of December for the past 5 years and it did it again this year, its like clockwork.
Ya it will not work for me personally without Zones, which i show in all the pink areas on my videos
There are a number of chart patterns in the market that help you understand the price movements. I don’t think that it is necessary to learn all of them. You can learn at least one of them properly and make your decisions accordingly.
Again how i determined Gold would rise off zones with Volume indicating that there was no break out to the down side after we broke the low… As you can see my video i made it showed that Volume was very high for that time of Day after we broke and then a bullish reaction.