USD index

Cswim63 said:
To your last point--we are taught in school to think that way. Most schools are using an assembly line as their model.
The first part where you talk of looking at volume at a certain price, that's interesting. I follow futurestrader71 and am starting to integrate volume profile into my thinking. I think that's what you are saying.
More...

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 :D .

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.
 
Cswim63 said:
Then again, sometimes less is more. It's up, down, or sideways for this trader. Mostly sideways is what I see. Sometimes I'll see a great setup, then I realize I'm looking only at a 15 min chart. Time to zoom out. Things take time to develop. Also, I think you can sort of eyeball where the volume is taking place just from the lower timeframe charts and from watching the tape. I know when I went from es to currencies I noticed immediately how much longer it took for things to move once support or resistance was violated, and how many more shakeouts there were before the real move resumed.
More...

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 :D:cool:
 
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.

eurt.jpg
 
You must log in or register to reply here.
Back
Top