How to choose the best pairs to consider on the currency heatmap
How to choose your pairs using the currency heatmap
https://youtu.be/rMPE8a0mQGM...
The volume point of control confirmed it all!
Another session for day trading the US indices where patience and more patience was required, but as always it’s volume spread analysis coupled with the Quantum Trading tools and indicators which helps to keep us safe and stop us from jumping in and then regretting this decision. The volatility indicator was once again much in evidence as indeed was the accumulation and distribution indicator for NinjaTrader, helping to define those key levels of price support and resistance which are so important.
The volume point of control was also much in evidence with the primary US indices of the ES, the YM, and the NQ all rotating around key levels as price agreement was reached in the faster timeframes. The tick charts too also confirmed this lack of interest and participation with the tickspeedometer indicator delivering very clear messages of danger ahead as the red warning signals flashed loud and clear. The messages were clear – wait and be patient. The trades...
Great forex session with the GBP/AUD, the GBP/JPY and the AUD/JPY all in focus
A great forex session this morning in the live webinar with David and myself, and one where we were spoilt for choice in terms of trading lessons and also trading opportunities. The pairs we chose were the GBP/AUD on the MT5 platform and the AUD/JPY on the NinjaTrader platform, before moving to look at the GBP/JPY later in the webinar and of course all analysed through the prism of volume price analysis and the Quantum Trading tools and indicators. For the GBP/AUD is was a case of further heavy selling in this pair and reflected in the time based charts supported by the MT5 renko chart. As always the currency strength indicator signalled the strength of the move and again using multiple timeframes giving the clear signals we need to select the currency or currency pair for further analysis. One of the keys to success is in applying volume price analysis which then helps to identify whether a reversal is...
Volume point of control (VPOC) holds key for gold
All traders understand the significance of price levels, and use any number of methods of trying to establish which are important and which to target not only as potential price objectives, but also try to try and establish where price is likely to stall.
And what makes a price level significant is whether it is reflected across different time frames, and we have a great example from the daily and monthly charts for gold.
On the daily chart we've seen some reasonable buying coming in at 1235, and perhaps even the start of a double bottom with the Camarilla marking the upside levels that need to be breached. But the monthly is looking bearish as the gold price is trying to break away from VPOC in the 1260 region, but what is significant this is also the R4 level on the daily and which is where only a break and hold here would signal the resumption of bullish sentiment.
However, short term the...
Classic VPA on GBP/JPY
A classic VPA on 5 min chart of GBP/JPY on the release of NFP today. Huge down candle on light volume, before we saw a switch back higher as market absorbed poor numbers, and likelihood of a September FED hike in interest rates disappear faster than snow in July.
The trigger of the volatility indicator (purple arrows) also signaled high probability of a re-trace to within spread of the down candle. Volume simply validated this point.
Indeed FED Funds Rate now pricing in a 44% probability of a rise in rates in December which is a re-run of last year's interest rate saga. As of yesterday FED funds showing a 30% probability of a rise in September
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