Another excellent session in the London forex markets as we explain how to use the currency dashboard and the components of the currency strength indicator, the currency matrix, the currency array and finally the currency heatmap.
Then we cover some great volume price analysis lessons on the GBP/JPY and the EUR/JPY, with the volatility indicator in evidence as always!
https://youtu.be/F97OuXpR7ws...
Another great forex session as the US markets get underway following the overnight news in the Far East and in particular with regard to the Aussie dollar. Once again some great examples of volume price analysis in action which then provides the foundation for all the other technical analysis on the chart and supported by the Quantum Trading indicators.
For forex traders the Quantum Trading currency dashboard is a great place to start with the currency strength indicator revealing individual strength and weakness across the eight major currencies. Then it’s on to the currency matrix and the currency array to consider the pairs and the complex of currencies, before moving finally to the currency heatmap.
The importance of using multiple timeframes is once again highlighted both on the charts themselves and also on the indicators, with key indicators such as the trend monitor and trend dots helping to keep you in a position during the inevitable pause points in any trend higher...
This morning's forex trading session was a masterclass in trading, combining every aspect in one powerful lesson. The GBP/JPY provided a perfect example, starting with the base methodology of volume price analysis as the move higher came to a temporary halt in the faster timeframes and duly reflected on across the currency dashboard in terms of the currency strength indicator, the currency matrix, the currency array and finally the currency heatmap.
Multiple timeframes are a key aspect coupled with support and resistance, the volume point of control and of course related markets in terms of risk sentiment. The currency indices too also play a pivotal role in identifying the intraday moves of the three major currencies of the US dollar, the Japanese yen and the euro in all timeframes.
https://youtu.be/HRgkvTJjJRY...
Another interesting session with the British pound once again in focus for several reasons.
First of course Brexit continues to dominate the news, and whenever an item of fundamental news is released it is the context of the bigger picture, and therefore has relatively little impact. Second, a volume price analysis anomaly was clearly in evidence on the daily chart for the GBP/AUD. Here we saw a wide spread up candle, yet the associated volume was not in agreement with such a strong move. Clearly the market makers were not participating in the move higher, with the pair duly rolling over a few days later to deliver a clear trading opportunity to the short side.
Finally we focused on the new release of retail sales to demonstrate volume price analysis in action on the 1 minute timeframe, and moreover the trap moves initiated on any such release, with the volatility indicator revealing its true power.
https://youtu.be/bb_ENLt0X8o...
A terrific trading session which once again had so many lessons for traders in all timeframes, emphasizing the power of volume price analysis and supported by the Quantum Trading tools and indicators.
As so often happens at the session crossover periods, reversals take centre stage as the market makers move in to trap traders into weak positions. Putting Brexit to one side, the focus here was on the commodity currencies and in particular the cross-currency pairs of the euro, the Aussie dollar, and the Canadian dollar.
The forex market is one of mean reversion and none more so at these times, when the market makers are at their most active. For the EUR/AUD the solid bearish trends intraday were duly reversed, but as always it's a question of identifying whether this is a change from a primary bearish to a primary bullish trend, or simply from a primary bearish to a secondary pullback or reversal before the primary is re-established once again....
If there was one word to define the end of 2018 and the start of 2019, that would be......volatility. Over the holiday period and at the start of the new trading year we have seen extreme and volatile moves across the markets. First was the biggest single-day points gain ever for the DOW which climbed over 1000 points. Astonishing by any standards, even in a 'normal' session and not one sandwiched between two holidays. Next came the flash crash for currencies with the yen pairs plunging several hundred pips in minutes, only to recover equally quickly over the next few hours.
And all of this price action given further impetus from the thin liquidity and low volumes. Both these moves were associated with average volume, and sending a clear and unequivocal signal of traps laid by the market makers and big operators. Volume price analysis as always reveals the truth behind price action and whether the major players are participating in...
With over 400 five star reviews, this box set is the ultimate foundation library to set you on the right road trading forex with four classic forex trading books.
A Complete Guide To Volume Price Analysis
This is the place to start with your foundation in volume price analysis. The book explains all you need to know from first principles, and how to apply this powerful methodology to the spot forex market in all timeframes. As forex traders, all we are trying to do is to forecast where the market is heading next. Is there any better way than to use the only two leading indicators we have at our disposal, namely volume and price?
Forex Trading Using Volume Price Analysis
The second book in the collection takes these principles and using over 100 worked examples, walks you through, step by step with clear annotated charts and supported with a full explanation of the price action and associated volume. Here you will see accumulation,...
In this session, we stressed once again the importance of distinguishing between the signal and the noise from the FED ahead of the FOMC minutes later. Once again we have seen how the Federal Reserve is the most powerful central bank in the world and how its words and actions impact all markets and the global economy.
We then focused on the pound in a variety of timeframes, with some great volume price anlaysis lessons in several pairs.
Finally we looked at the currency heatmap and the extremes for some longer term trading opportunities.
https://youtu.be/6PuiHUClDhM...
https://youtu.be/RALighYqu0Y
Choosing which currency pairs can be a tricky decision, and one each forex trader has to make for themselves, and as this is a frequent question, it's one we answer in this morning's forex session. And always there is no right or wrong answer, only what suits you, and perhaps the key here is patience. If you have the patience to wait, then reducing the number of pairs to trade can be an excellent way to become an expert in one or two, perhaps also with a preferred tactic. However, this can create problems as boredom can often be an issue as other pairs are then sought out, and very quickly all the initial discipline has gone, and the trader is then taking trades in all pairs, as before. So it's not easy.
Another question frequently asked is how to use the currency dashboard and the four trading indicators it contains, and here David walks through the three-step process, with the...
And once again it's the power of volume price analysis which reveals everything.
Some great volume price analysis lessons once more as we move into the European session followed by London, and the signals could not be clearer supported by the Quantum Trading tools and indicators with the British pound in focus on the MT5 and NinjaTrader platforms.
https://youtu.be/Ab_xg8KLIrU...
