An interesting session for US indices where despite the relatively narrow price action, the tick charts delivered some solid trading profits for intraday scalping traders. The focus in this session was on the ES emini, the most heavily traded index, and using tick charts in combination with the Ninjatrader Tickspeedometer indicator. This approach delivered some solid results despite the fact markets were waiting for FED chair Powell to deliver a speech to the Economic Club of Washington DC, with a question and answer session to follow. It was no surprise to see markets trading in a relatively tight range, but nonetheless delivering for the emini scalping trader.
https://youtu.be/5D7MM3Ffik8...
More great volume price analysis lessons this morning in the London forex session as we focused on the British pound, with further volatility expected as Brexit continues to exert its influence across the complex.
But we started with a look at the NZD/CAD on the daily timeframe which continues to remain firmly anchored to the top of the heatmap, as we wait for the pair to weaken and move away from this extreme position. As always, patience is required, and the approach here is the same, whether for the currency strength indicator or the currency heatmap when trading extremes. For the former it is the currencies themselves, and for the latter it is the currency pairs. In either case, patience is required along with wide stop loss positioning and then waiting for the move to develop.
From there we moved to the British pound and in particular a move on the GBP/JPY with several signals suggesting a reversal following the initial move...
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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?
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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...
Another great session with all the markets in focus from commodities and indices to stocks. Some great trading lessons here in all markets and timeframes on the NinjaTrader platform and using the Quantum Trading indicators.
https://youtu.be/sXhakmOYIDE
Indicators from Quantum Trading...
Choosing the best stocks for day trading can be tricky and if you choose the wrong ones, it can be tough make money as a day trader.
In this session, we cover some of the basics of stock selection for day trading and also highlight one of the key issues which is understanding floating supply.
Floating supply is one of the most important factors to consider for the simple reason if the floating supply is small, then volatility is likely to be high as the price can be manipulated by the market makers very easily, or indeed a single large order. The opposite is where floating supply is large and in this case volatility will be reduced as these stocks are harder to corner for the market makers and insiders.
This was also a great trading day with the opportunity to make money in all markets, with the ES index falling strongly along with the sister indices of the YM and NQ emini,...
Using multiple timeframes is one of the keys to trading success and in this morning's forex session we explain why, and using several of the GBP pairs.
The reasons are many. First, using this approach reveals how price action in one timeframe, can reveal so much in another. Overlaying two candles is easy, but doing this with several is hard and almost impossible to do quickly. The Quantum Trading indicators for MT5 and NinjaTrader then help, with different signals in different timeframes. One may be signaling a change in trend which is developing, or perhaps a volatility signal is triggered.
Finally, the price action itself reveals areas of support and resistance, of deep concentrations of volume which are not apparent on the timeframe of choice. All of these then provide the pieces of the jigsaw, which answer the simple question 'where is the market heading next?' And all underpinned of course by volume price analysis, which again offers powerful insights when applied...
It's often hard to find trading opportunities which just deliver, and keep delivering, but for oil this has been the case over the last few weeks, and this was no different yesterday, with the WTI futures as the price of oil fell once more, and offering straightforward, low risk, high return trading opportunities in all time frames.
The primary decision trading decision here is the number of contract to trade, with the time and non time based charts providing those key insights to maximize returns. And here, it really is a case of make hay while the sun shines. These fantastic trading opportunities don't come along every day, and until OPEC moves and potentially introduces supply cuts, this bearish momentum looks set to continue, but as always it will be volume which reveals any turn points or primary reversals in due course. So enjoy the ride lower!
https://youtu.be/YRj70Ia-HEo...
Waiting for the US mid term elections was reflected in the markets this afternoon, and following an initial move higher, that was it for the rest of the session as all three indices rotated around the VPOC on the fast timeframe charts and lacking both direction and participation. The price action was no great surprise given the political landscape along with the FED decision due on Thursday.
But as always on such days, it reminds us we have to be patient and wait for the trading opportunities to arrive and not force them, where none exist which was the case for index traders today. This general lack of momentum was also reflected in related markets with the US dollar and gold both trading in narrow ranges. The terrific price action of October, a nightmare for investors, but joyous for traders, now seems to be a dim and distant memory as we wait for the Santa Claus rally to appear on the...