In the London forex session, the pair to watch was the AUD/CAD with the Aussie dollar rising strongly and the Canadian dollar falling equally strongly on the faster timeframes of the currency strength indicator, with the currency matrix indicator confirming this sentiment.
https://youtu.be/90P6wUlmqXE
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https://youtu.be/-UXiblDcAho
What a combination, and even in thin markets, the renko indicator from Quantum Trading with the trend monitor and trends indicators deliver. With the US markets closed for the 4th July celebrations, volumes were thin, but with the renko indicator coupled with the trends and trend monitor indicator scalping trades were delivered....
The London forex session delivered a terrific trade on the GBP/AUD, as strength in the Aussie dollar coupled with weakness in the British pound sent the pair falling overnight and into Europe. A great example of how to use the trend monitor indicator across multiple timeframes, and its power at keeping you in to maximise profits with the currency strength indicator signalling those all important reversals and pullbacks.
https://youtu.be/379jnwC3Jsw...
The starting point for finding the best trades for forex starts with the currency strength indicator, and from there moving on to the currency matrix. Isolating out the currencies and using the bookmark function then provides an excellent focus.
https://youtu.be/AjnzbKyikpU...
A shorter session than usual for technical reasons, but nevertheless some great price action as the London forex markets open.
https://youtu.be/fw0LcOh9mwo...
A terrific trading session as the London markets gets underway with heavy selling of the British pound across the complex and clearly signaled on the currency matrix indicator for MT5.
https://youtu.be/ZHhXr93Aowo...
Trading success is all about timing and here we use the currency stregth indicator and the currency matrix to explain the principles.
https://youtu.be/LMgQgIjTpPM...
It was all about the euro in early trading with the currency strength indicator, the currency matrix and the currency array all in focus in the forex trading session.
https://youtu.be/jeoO0esSLBc...
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...
