https://youtu.be/UJI7ImQo5_k
Much to the dismay of the BOJ (Bank of Japan), the yen continues to weaken, which has provided many trading opportunities. However, are we seeing this weakness coming to an end? In this video, David & I explore this reversal in sentiment in the gbp/jpy, across the timeframes. The daily chart can be extremely useful as it can signal the following day's trading environment. Meanwhile, David considers the faster timeframe and explains how the use of multiple timeframes and the Time Adjusted Renko can be used in trading.
By Anna Coulling
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Trading using multiple time frames is a skill all traders need to master, but this also applies to using our specialist forex indicators, such as the currency strength indicator. In this video, David explains how this approach can highlight potential trades and setups. In addition, he explains how the csi highlights flows into risk currencies, which can help us determine market sentiment. And he also looks at several vpa anomalies.
https://www.youtube.com/watch?v=_c-hAs2L69A...
Some dramatic price action with the sterling pairs on news the UK and the EU may have reached an agreement on the impasse over Northern Ireland. News that a deal had been agreed resulted in GBP soaring higher across all our pairs, but as always with anything Brexit related, today has seen a cooling in the price action with the biggest reversal in gbp/jpy - affectionately known as the Yeppy.
We can see the setup clearly in the csi and captured with great precision by the Renko chart for MT4.
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Since posting the above, the DXY has managed to test the volume point of control but is looking to close out today's trading session as a long-legged doji candle.
By Anna Coulling
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The Quantum volatility indicator captured dramatic price action in the yen pairs during this month's BOJ meeting, confirming what had already been signaled in the options market for the currency. The overnight implied volatility, which is the metric we watch, was at 50% (a six-year high), so violent price action was expected, of which the aud/jpy was one example. As we can see on the hourly chart featured above on the MT4 profile for the pair, we can see the relentless move higher and the volatility trigger on the huge up candle. This trigger of the purple arrows happens in real time and warns us that the price action is outside the average true range for this time frame. Trader reaction is usually one of FOMO, with many jumping in just when the price is likely to pause or reverse, as in this case. This is a classic trader trap and happens all the time. However, when we read the...
We are seeing some significant moves in sterling this week, and none more so than in the gbp/cad, a commodity cross pair that can often deliver solid and consistent trends. However, on a time chart, it can be challenging to gauge the strength and momentum of a trend, which is why traders use either tick or Renko charts. For traders who like to use tick charts, the problem has always been knowing what tick value to use, so they either guess or rely on values suggested by other traders. However, as activity and momentum in the market are constantly changing, these static values are no better than a time chart.
This is why we developed the Quantumtickspeedometer, which calculates the optimal value for the chart and, in addition, uses a traffic light system to tell us when the market is active or not. The indicator is attached to a time chart, allowing us to use our volume price analysis methodology, which...
As the DXY index (USD) continues to strengthen, many traders would like to know how much further it is likely to rise. The simple answer is that from a historical perspective, the DXY reached a high of 151 in 1984, so there is plenty of travel left. We must consider the daily and monthly charts to view their current trajectory. The monthly is interesting because last month's price action triggered the Quantum Dynamic Volatility indicator confirming the candle range is outside the ATR for this time frame. The reaction to this trigger is that the price action will most often retrace into the spread of the candle and consolidate before any direction is re-established, which is what we are seeing now. In addition, last month's volatility candle gives us key support and resistance levels for the DXY.
The daily chart below is where we will find the week's important support and resistance levels. On this chart, we are using both price...
Over the past few days, volatile price action in the euro currency has highlighted how using a Renko chart can help us deal successfully with such market conditions, and the pair I want to focus on is the eur/cad. Yesterday the euro had a good day with strong up moves across its matrix, but this was ahead of today's important ECB meeting. Whilst the bank raised interest rates as expected, the accompanying statement resulted in volatile price action and a fast move lower. Rather it was what was not mentioned in the statement, as the ECB removed
any reference to rate hikes continuing at the next 'several' meetings. The 15 min and Renko charts above capture this moment for us.
By Anna Coulling
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The market scanner we have developed for Tradingview can be used for all markets but is particularly powerful for forex trading as it allows us to monitor our preferred pairs simultaneously. In this video, David explains how to use the scanner.
https://youtu.be/uTIWxqM_c50
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A roundup of one of the busiest days for forex traders that started with the RBNZ interest rate decision and ended with the FOMC minutes. In this video, David & I cover the events of the day and their impact on the relevant currencies and currency pairs. We also focus on the Heatmap, an indicator that can be used both for intraday and longer-term trading. Intraday, the indicator can be used to monitor existing positions across multiple timeframes as the values are based on the currency matrix. The indicator then weights these values to rank the pairs allowing traders to look for reversals.
https://youtu.be/7HeHoUriok8...
