Discussion in 'Forex' started by Piptaker, Jul 22, 2016.
If you know anyone who's selling one, I'd be interested.
I have some different views about schools, education and society these days and the way kids are now indoctrinated to play a role in a system that just requires you to be just a good follower but I'll leave it at that for now .
I've been studying price and volume for a long time and still learning everyday but I would say now it's definitely worth the effort, it takes a lot of time and effort that's why most people don't understand it and say it doesn't work, but I'm not trying to convince anybody to use it I really don't care..
Don't know much about volume profile I just use the tick volume indicator and always look at price and volume together never in isolation. I look for volume peaks and low volume in swings and approaches to areas of price structures for clues in where price wants to go rather than me having an opinion and trying to choose a direction while trying to keep things as simple as possible. Will put some charts up later with some simple setups if your interested.
Yes I think it's important to get the right context for example you might be looking at the 15m chart and watching a swing high break out but the move is actually on a 4hr tf breaking out of a level where the longer term players are involved and it may take longer to clear the levels.
Currencies are definitely trickier than the es. They do fake you around a lot and can be testing at times, they are very good at taking advantage of current situations to remove your money and put it in their pockets
The mind can trick you into seeing things that are not there.
Yes I'm interested of course always something new. It just reminds me so much of the peaks and valleys in volume profile where you can see over time the most traded price then the valleys where volume cuts off. It definitely begs the question --why did so few traders want to trade at that price? And why so many there? Obviously, there is no answer, just clues.
I think it all came from the floor traders, and the developer of market profile talks about it. They were seeing first hand where price and volume came together. It's a lot different when you're there and you see big volume cross at a certain price. It sticks in your mind if you are any good. I used to love to listen to Ben Lichtenstein call the pit audio in Spooz
One of my short trades last week. Price makes a volume peak then a few weak attempts to get above the swing high. Price and volume had no interest in going higher which made for an easy short.
Speaking of crosses, I've been stalking the EUR/AUD for awhile. Looks lower to me, ultimately.
AUD/Cad cup w handle on daily. Been watching Cad drop with oil. Might be less difficult to trade than USD Cad.
Nice clean open Japan, Australia.
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