As the London forex session gets underway, we start with several of the forex specific indicators, such as the currency strength indicator, the currency array indicator forand the currency matrix. In this video we are using the MT5 trading platform, and then move on to consider some of the basic principles of volume price analysis applied to the forex markets and using Wyckoff's three laws.
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The Fear of Missing Out at the London Open!
The fear of missing out (FOMO) hits hard at the London open. High liquidity drives sharp moves. Traders rush in, fearing they'll miss the action. This often leads to emotional entries and traps.
There are many traps set for the unwary forex trader and the London session crossover is one which occurs each day at precisely the same time. It is immensely profitable for the market makers as so many traders are unaware of this simple trap which plays on the fear of missing out, or FOMO. The volatility indicator is very evident and signals either congestion or a reversal from the primary trend to the primary trend.
Why FOMO Traps Traders
London's opening overlaps with Europe. Volume surges early. Price gaps or spikes trigger FOMO. Many buy highs or sell lows without confirmation. Volume price analysis (VPA) exposes these traps—low volume on spikes shows weakness.
Avoiding FOMO with Discipline
Wait for volume confirmation. High volume on...
At the start of the trading session Anna gives a brief overview of Wyckoff's three laws and how they apply to volume price analysis.
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Why Is GBP/JPY So Volatile?
GBP/JPY is one of the most volatile forex pairs. Traders call it "the beast" or "dragon." Sharp swings create big opportunities—and big risks. This volatility comes from the pair's unique characteristics. Volume price analysis (VPA) helps navigate the chaos. In the video we apply Wyckoffian principles and volume price analysis to the 10 minute chart for the GBP/JPY.
Drivers of GBP/JPY Volatility
The pair combines two contrasting currencies:
British Pound (GBP): Sensitive to UK data (GDP, inflation, retail sales) and BoE policy. Political events add swings.
Japanese Yen (JPY): Classic safe-haven. Strengthens sharply in risk-off (equities drop, uncertainty rises).
This opposition amplifies moves. Risk-on weakens JPY—GBP/JPY rallies. Risk-off strengthens JPY—pair plunges. Carry trade (borrow low-yield JPY for GBP) unwinds fast in fear—adding fuel.
VPA confirms—high volume on spikes shows conviction. Low volume extremes warn of reversals.
Why It's More Volatile Than Most Pairs
No USD buffer—pure GBP vs JPY dynamics. London session (GBP focus) overlaps Asia (JPY flows). News clusters create spikes....
The renko optimiser for NinjaTrader is a powerful non time based charting indicator which works with time based charts and gives you the confidence to get in and stay in a trend once underway. In this video we see it applied to the YM emini futures contract and delivering some unbelievable trends with the trend monitor and trends indicators also working perfectly in harmony with the renko indicator.
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Using the Renko Indicator for Trading Forex
In the final section of the webinar we explain the power of using the renko indicator for MT4/MT5 when used in combination with time based charts and applying the other Quantum Trading indicators. The Renko indicator is a powerful tool for trading forex. It focuses on price movement. Time is ignored. Bricks form only when price changes by a set amount. This filters noise. Trends appear clearer.
How Renko Charts Work in Forex
Renko bricks are simple. Green for up moves. Red for down. Brick size is customizable—small for scalping, larger for trends. In volatile pairs like GBP/JPY or EUR/USD, Renko removes chop. Volume price analysis (VPA) pairs perfectly—high volume on brick formation confirms conviction.
Benefits for Forex Traders
Renko helps spot trends early. Long brick runs show momentum. Reversals appear as color changes. Avoid ranging markets—flat bricks signal wait. Quantum's Renko Optimizer on MT5 or NinjaTrader finds ideal brick sizes automatically. This enhances VPA signals.
Practical Tips
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US indices lead the way on Globex as the London forex session began with sentiment changing. As a result the VIX fell with indices rising and strong selling of the Japanese yen.
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As the London forex market gets underway, equity markets signal a reversal in sentiment along with risk currency flows such as the AUD/JPY. It is interesting to note the currency strength indicator on the daily timeframe with the commodity currencies heavily oversold and risk currencies overbought, so setting up for some excellent longer term trading opportunities for the yen currency pairs.
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A nice congestion phase building on the 5m chart for the GBP/JPY and one which introduces several elements of volume price analysis. First we have support and resistance here we see a strong region of resistance building with the red dashed line. This is on the accumulation and distribution indicator which displays graphically the strength of such regions. In other words the thicker the line, the stronger the region, so a strong ceiling of resistance building at 129.75. In addition we are also trading at the volume point of control at 129.52. This is the fulcrum of the market at present with no bullish or bearish bias. In other words the market is in price agreement where we have the heaviest concentration of volume. The key now is to wait for the breakaway from this region which will come - it's a question of being patient and waiting. And on the move away we then move to consider the volume...
A Classic Volume Price Analysis Signal
A classic volume price analysis (VPA) signal appeared on AUD/USD. The pair was in a clear downtrend. Downward momentum looked set to continue. This signal was hard to miss for VPA traders.
In Falling Markets
In falling markets, one of the great signals we always look for as forex volume traders is the candle highlighted on the chart, and it is often an excellent re-entry signal to any trend if you have missed an opportunity higher in the trend. And the signal is simple and clear. Price weakness as denoted with the deep wick to the upper body of the candle, but associated with high volume. The market has tried to rally on excellent volume but closed lower on the day.
Clearly, the market makers are selling into weakness, and therefore, we can expect the trend lower to continue. You can join me in my free forex webclass where I explain this and other principles of volume...
