I am considering trading forex on a demo account. I understand that there are no volumes recorded in forex as there is no central regulating exchange. Therefore I can only see the usefulness of Bollinger Bands on an hourly chart, I see no way of determining an impending reversal from volume. Can anyone suggest something in addition to Bollinger bands and share their insights in general? Thanks in advance.
Support & Resistance; trendlines PRECEDE price action. I.E., if support holds, new longs are added while shorts cover...price action headed higher. People who focus on price action are putting the cart before the horse. KUDOS to those with enough clarity of thought to use what really works while eschewing what doesn't. It took me 18-months before I learned these hard lessons! Best wishes!
I use Bollinger bands too, in addition to an accelerator oscillator and sometimes, Williamâs percent range.
flip a coin... same results in currency fx trading. day trading this with the pip spread is like gambling with 90/10 odds against you~
i think that 'price action' can work only if you can get continuous fluid movement to your quotes to watch and interpret. mine are 'herky jerky' with periods of frenetic activity followed by relative quiescence. am i wrong here