https://www.youtube.com/watch?v=Q56dIbUtIgQ&ab_channel=QuantumTradingIndicators
An interesting forex session in which there was little activity in the London session was confirmed by the low numbers on the hourly matrix chart as traders awaited the CPI releases in the US. Whilst this is not the FED's preferred inflation metric it nevertheless gives the market some insight into how fast inflation is rising.
Despite the subdued London tone, there was a really nice trade in the eur/cad. Indeed, the cad is very much the currency to watch and it often moves quite strongly outside of his natural timezone. The trade setup was on the 5 min chart as a break away from the volume point of control and S3 on the Renko with a reversal then coming on a bullish engulfing candle. The reversal saw the pair move back to the S3 so a round trip ahead of the release.
Meanwhile, Gbp/jpy was also in focus with a reversal on positive US market sentiment - as we can see...
There was some great price action in the London forex session with the US dollar reacting to Janet Yellan's comments yesterday and delivering some excellent two-way price action.
https://youtu.be/qcIjglGynl4...
Choosing the best currency pairs to trade is straightforward with the currency strength indicator from Quantum Trading Ltd. Whether you trade trends, reversals, or congestion, the currency strength indicator which works on NinjaTrader, MT4/5, TradingView and now Tradestation is always the starting point as it breaks the world of forex down into the building blocks of the currencies themselves which is the starting point for analysis from the ground up.
https://youtu.be/QY5skhZFqao...
In the latest session from the forex trading webinars, I explain the importance of support and resistance in the context of some recent trades on MT4/5 and also on TradingView.
https://youtu.be/wM6SH96NROY...
At the start of the London forex trading session the market was buying the US dollar across the complex, a fact confirmed by considering this in both the spot and futures markets along with the currency array indicator for NinjaTrader. The GBP/USD was one in particular with an excellent move lower, before reversing with a terrific volume signal as the buyers stepped in to reverse the trend with the BOE chairman helping to drive the sentiment.
https://youtu.be/NrF8j0XGJjg...
As the FED strives to maintain confidence in US markets, all eyes are now focused on the US dollar in the run to the US elections, and with so many factors driving sentiment each and every one could be a factor. This week alone sees eighteen comments from FED members and with the pandemic continuing to dominate, the death of US Supreme Court judge Ruth Bader Ginsburg, this too has added an significant twist to the possible outcome. All of this and much more will play out in the US dollar over the next few weeks and with it languishing in the low 90's on the daily chart, from a technical perspective it has the potential to regain the 100 handle once more, a level not seen since May.
https://youtu.be/yV4ARqhmvt8...
In this video, we explain how to read the chart and trend using volume price analysis and supported of course by the Quantum Trading tools and indicators.
https://youtu.be/TSHRLbFQr44
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In this video, I demonstrate the power of the Camarilla levels indicator on NinjaTrader and in particular with regard to the Nasdaq NQ Emini futures contract which continues to lead the other US markets higher, but for how much longer?
https://youtu.be/-7HbhFndaM0...
