Stop getting caught in reversals – learn to spot the sumo candle
In this video David explains how to spot the sumo candle and the signal that it sends for volume price analysis traders. These candles are often seen at turning points and are therefore key indicators to watch out for in all timeframes.
[00:20]
Introduction to Forex Workspace and Manual Matrix Setup
The presenter has transitioned focus to Forex trading and highlights a preferred workspace setup called the manual matrix.
The matrix includes six major currency pairs arranged in a grid:
Top row: Pound Dollar (GBP/USD), Aussie Dollar (AUD/USD), Euro Dollar (EUR/USD)
Bottom row: New Zealand Dollar (NZD/USD), Dollar CAD (USD/CAD), Dollar Swiss (USD/CHF)
All pairs are displayed on the same timeframe to facilitate comparative analysis.
The platform used is NinjaTrader, though the presenter notes similar functionality on other platforms.
The key feature emphasized is interval linking, which allows the trader to switch timeframes across all charts simultaneously, enhancing efficiency.
[00:52]
Use of Accumulation Distribution Indicator for Automated Levels
The only active indicator on the charts is the Accumulation Distribution indicator, which automatically identifies key price levels.
This indicator:
Automatically plots support...