What do you use in forex charts

ktrs · Dec 18, 2008

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.

rsikit · Dec 18, 2008

price action

4XQs · Dec 18, 2008

Support and resistance, trendlines. And price action +1.

GCSICLRBC · Dec 18, 2008

Quote from 4XQs:

Support and resistance, trendlines. And price action +1.

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!

4XQs · Dec 18, 2008

One thing I keep on my chart is Donchian channels. You know, the turtles...

bugscoe · Dec 18, 2008

If you're stuck on using volume, chart the Euro 6E futs contract.

davidmaria1 · Dec 18, 2008

Quote from 4XQs:

One thing I keep on my chart is Donchian channels. You know, the turtles...

Donkian chart

All in good fun

maria_chen · Dec 19, 2008

I use Bollinger bands too, in addition to an accelerator oscillator and sometimes, Williamâs percent range.

mindmerge2k · Dec 19, 2008

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~

killthesunshine · Dec 19, 2008

Quote from rsikit:

price action

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